08-08-2025
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.
