Coimbatore: Consumer sentiment in realty sector shows improvement
The consumer sentiment in Coimbatore real estate sector has been showing a noteworthy improvement of late. According to CREDAI-Coimbatore President Rajesh B Lund, ‘good, steady sales’ were recorded by all developers in the city last year.
Lund said that, with improved consumer sentiment, there has also been a significant increase in realty bookings in recent months.
However, against that backdrop of the fact that Coimbatore city does not feature on the State Government’s list of announcement with regard to several infrastructure development initiatives, Lund said that investments in Coimbatore’s housing market are chiefly made by people from outside the city.
Nonetheless, Lund also asserted that it is about time that the State Government focuses on infrastructure projects – including flyovers and scheme roads – for Coimbatore. Lund also said that the city needs to have more industrial units, so that more employment opportunities can be created.
Drawing attention to the fact that construction costs are on the increase, Lund said that a lot of developers are looking at affordable housing as a profitable business opportunity; and are launching housing projects aimed at buyers looking for properties up to Rs 50 lakh, with the size of the residential units in these projects ranging between 800 sq.ft and 1300 sq ft, depending on the location.
Source – The Hindu Business Line
Coimbatore housing market, Coimbatore Real Estate, investments in Coimbatore, Rajesh B Lund, Realty sector
