Change in investor preferences nudge developers to take up high-rise build apartment complexes
Real estate developers in Tiruchi are shifting focus toward high-rise residential projects to meet growing demand for modern, luxury living. This trend is driven by rising urban land costs and preferences from non-resident Indians for vertical housing.
Why it matters
This reflects a significant shift in urban planning and real estate development patterns in Tier-2 Indian cities.
With urban land prices skyrocketing in recent years, real estate developers have forayed into building high-rise residential projects within the city limit to cash in on the growing demand.
The city’s first apartment was said to have been constructed on the Railway Station Road in Srirangam. During the same period, a few projects sprang up in Thillai Nagar and Cantonment areas. Since they became an instant hit, several promoters began launching projects to provide affordable housing. It has now emerged as one of the hot markets for limited story apartments. Almost all of them were confined to building 18.3 metres (tilt plus five floors) apartment projects. The market was dominated by low-rise apartments.
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