Property demand has picked up in Coimbatore, say developers
Property developers in Coimbatore report a recent uptick in property registrations and housing loan demand. While demand for plots has slowed, the premium segment remains strong despite rising construction costs.
Why it matters
This provides insight into the current health of the Indian real estate market and the inflationary pressures affecting urban development.
Property registrations have picked up in the last one month in Coimbatore, according to property developers in the city.
S.R. Arvind Kumar, president of CREDAI Coimbatore, told the media on Tuesday that in the ready to occupy properties, the stock available for sale was just 7 % and in the ongoing projects it was about 15 %. The registrations slowed down in the first few months of this financial year and picked up last month. Even banks saw high off take of housing loans in July. The demand for plots has slowed down in Coimbatore and premium segment in the price bracket of ₹3 crore to ₹3.5 crore for about 2,200 sq.ft in the city is seeing a growing market.
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