Latest news with #CREDAICoimbatore
The Hindu
08-08-2025
- Business
- The Hindu
Coimbatore sees a steep rise in residential property development
COIMBATORE The number of new residential units launched in Coimbatore has grown 52% in 2024 compared with 2019. According to 'Coimbatore Real Estate : Leading the Upswing', a study by JLL India that was commissioned by CREDAI Coimbatore and released at the inauguration of Fairpro 2025 on Friday, the number of residential projects launched in 2024 is 70% more than the launches five years ago. There is a strong demand for mid-segment housing in the price range of ₹50 lakh to ₹70 lakh each and new housing hubs are coming up near the IT parks, including Keeranatham, Vilankurichi, Saravanampatti, and Kalapatti. The premium villa projects in the price range of ₹2.5 crore to ₹3.5 crore are now popular among high network individuals and non-residential Indians. In the case of office, the white paper highlights that market absorption has gone up by 2.3 times to 8.8 million by 2024. The average rental value is ₹55 per a month and in 2024 alone 1.4 million was absorbed. In the case of logistics and industrial space, the availability has expanded 47% to 6.6 million and Coimbatore has captured 16 % of India's total market share in the senior living sector. The retail market space demand is driven by rapid urbanisation and rise in white collar employment. While there are three grade A malls, two more are coming up. The white paper was released by Haritha Poornima, General Manager, Network 3, State Bank of India, in the presence of JLL vice-president S. Shrivignesh.
The Hindu
04-08-2025
- Business
- The Hindu
CREDAI looking at joint representation on changes needed in Coimbatore Master Plan
The Confederation of Real Estate Developers Associations of India (CREDAI), Coimbatore, will look at a joint representation for the changes that need to be made in the Coimbatore Master Plan released by the Tamil Nadu government recently. Arvind Kumar S.R., president of CREDAI Coimbatore, told the media on Monday that the Master Plan has multiple elements apart from land use classification. It is a vision document for the next 16 years and has earmarked the areas that will see expansion of Coimbatore International Airport and the Coimbatore Metro Rail project. On reports that the new plan requires land use reclassification in several areas, he said the CREDAI is studying the possibility of taking it up jointly with all the stakeholders. On increase in raw material prices, he said the CREDAI and other associations take measures jointly whenever there is a hike in prices. While the demand for housing is more than the residential units available in Coimbatore, he added that the requirement of residential units in each area should be studied and more projects should come up in areas that have higher demand.
The Hindu
04-08-2025
- Business
- The Hindu
Property expo, Fairpro, to be held from August 8 to 10
The Confederation of Real Estate Developers Associations of India (CREDAI), Coimbatore, will organise the 15th edition of property expo, Fairpro, in Coimbatore from August 8 to 10. S.R. Arvind Kumar, president of CREDAI Coimbatore, Surender Vittel, chairman of Fairpro 2025, and Sanjana Vijay Kumar, secretary of CREDAI Coimbatore, told the media on Monday that the event would have 30 participants who would display details of more than 100 projects, including villas, plots, and holiday plots. Nearly five bankers and raw material suppliers would also participate in the fair. 'There are a lot of new projects launched in the recent months. Fairpro will give the customers the best of these,' said Mr. Vittel. It would be a festival for home buyers, he said. According to Ms. Vijay Kumar, the event this year also has a panel discussion on August 9 and JLL India, which is the knowledge partner, will release a white paper on the real estate sector in Coimbatore. There were multiple developments happening in and around Coimbatore and the white paper would give details related to these developments, she said. The event, which will be held at the CODISSIA Trade Fair Complex from 10 a.m. to 8 p.m., is expected to attract nearly 10,000 visitors. Mr. Arvind Kumar added that Coimbatore was adding six million of IT space that would generate almost 20 lakh jobs. The demand for houses would be proportionate to this, he said. According to the event organisers, the demand for houses is currently more than the supply and inventory of ready-to-occupy houses is almost nil.
