Luxury Apartments in Coimbatore sold for Rs 2 crore
The city’s most expensive apartment is coming up in bustling R S Puram Coimbatore. For the first time, a fully air-conditioned flat in the city has been priced at a record Rs 2 crore.
Exorbitantly priced luxury apartments are cruising into Coimbatore’s landscape now. The city’s most expensive apartment, being developed by Coimbatore-based Foundation One, offers covered swimming pool, a 260 sqft deck balcony and a glass-walled bedroom too. While the 2,600 sqft flat is sold for Rs 2 crore, the 3,400 sqft apartment has been priced at Rs 2.5 crore. In up-market localities of the city, new flats are priced between Rs 75 lakh and Rs 1.5 crore.
The city’s most expensive apartment is coming up in bustling R S Puram. For the first time, a fully air-conditioned flat in the city has been priced at a record Rs 2 crore, with the cost per square-feet being Rs 7,500. R S Puram is a nice residential and commercial area in Coimbatore. R S Puram is the shortened form of Rathinasabapathy puram.
The real estate sector is now on a healthy bounce-back after the slump two years ago.”As of now, the going rate is about Rs 5,500 to Rs 6,500 per sqft in R S Puram and Race Course and flats are being sold for up to Rs 1.5 crore in the four prime localities of Race Course Road, R S Puram, Ram Nagar and Saibaba Colony,” says V Subramaniam, president of Coimbatore Confederation of Real Estate Developers Association of India (CREDAI). Villas have previously been sold or resold for Rs 2 crore but it is the first time in the city that a flat has been pegged at Rs 2 crore, he says.
For the first time, a fully air-conditioned flat in the city has been priced at a record Rs 2 crore. “Almost all the 17 units have been booked. Most of the buyers are up-market businessmen. The demand for extravagantly luxurious apartments is growing in Coimbatore,” says Foundation One executive director, Akshay Khanna.
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Now luxury apartments are increasing very fast in Coimbatore. Availability in city areas like R.S. Puram is happier news.