Wednesday, November 30, 2022

Kovaipudur, Coimbatore’s next big real estate investment hub

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November 7: Kovaipudur, popularly known as Little Ooty, famous for its serene environment and pleasing climate at present is slowly gaining a reputation for being the latest hotspot of real estate investment in Coimbatore.

Coimbatore termed as the ‘Manchester of South, is already considered a paradise by people due to its amalgamation of nature-friendly climatic conditions and the strong presence of reputed industrial companies. Its presence in the rain shadow region of the Western ghats enables it to enjoy a very pleasant climate throughout the year, aided by the fresh breeze that flows across the city. The region’s rich black soil which benefits the agricultural industry, mills, and factories in addition to the ongoing industrial development wherein the numerous prominent IT giants such as TIDEL park, Tata Consultancy Services, Cognizant Technology Solutions, Robert Bosch DELL, KGISL, and CSS Corp Pvt Ltd have already set up their bases makes Coimbatore one of the top preferred destinations to reside within the state.

Kovaipudur, the large township at the foothills of the Western Ghats, within Coimbatore is now grabbing the attention of real estate investors and buyers. The locality acting as a residential cum industrial neighborhood due to its recent infrastructural developments is beginning to see the setup of fine civic amenities such as educational institutions, entertainment avenues like malls and shopping complexes, industrial companies, and residential projects. The presence of these amenities along the area’s beautiful landscape, the population’s communal harmony, and the resident’s etiquette and respectful mannerisms are further adding beauty to the already alluring picture of Kovaipudur’s residential market.

The most recent progress of the Western Ring Road has already increased the momentum of land acquisition by real estate plot developers. The 32.4km-long, four-lane road which will connect Madukkarai on Coimbatore – Palakkkad Road to Narasimmanaickenpalayam on Mettupalayam Road will be instrumental in reducing traffic congestion on city roads by almost 40%, mainly for motorists who will take the route to travel to Mettupalayam, Nilgiris, and Mysuru. The project currently has picked up pace after lagging execution for a long time due to numerous land value fixation delays.

Real Estate Analysts are expecting the large parcels of land in Kovaipudur to have high demand once the Western Ring Road becomes operational. The locality already shares very close proximity with prominent landmarks with educational institutions like CS Academy and Sri Krishna College of Engineering and Technology, business establishments like The Ganga Super Market Chain, Gowtham Industries, The Banyan Infotech, JRD Realtors, Aura Contrivers, Server Cake, and Punjabi Dhaba Chain of Restaurants. Residential real estate development has already started to skyrocket in the area with the establishment of projects such as JRD Presidential Villas, MPR The Basava Residency, and Terraspace Sumeru. 

The growth however is just in phase 1, with the work on Western Ring Road still in progress. Analysts are claiming that this might be the only right time for buyers to purchase land plots in Kovaipudur at an affordable rate. It is common knowledge that once the development of the locality has peaked and completed all phases, the price of the land will be high. A smart real estate investor will know the right time to invest in a good locality, and with the recent scope for future development, this is for sure the right time to invest in a place like Kovaipudur.

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