Salarpuria Sattva Group to Launch Affordable Housing in Coimbatore
Bangalore-based Salarpuria Sattva Group is expanding its presence to Coimbatore before venturing into Chennai. Despite the current real estate slowdown in Coimbatore, the company remains optimistic about the market's resurgence, recognizing its potential to attract investors.
Coimbatore: A Budding Real Estate Market
"From an investment view Chennai is a mature market, but Coimbatore market is just beginning so it is the right time to enter Coimbatore property market clarified the group." The group views Chennai as a mature market, while Coimbatore presents a nascent opportunity, making it an ideal time for entry. The state government's focus on city development, industrial growth, and an influx of cosmopolitan residents further strengthens Coimbatore's appeal to real estate developers.
Strategic Project Location and Focus on Affordability
Addressing the challenge of high unsold inventory, Salarpuria Sattva Group emphasizes the strategic location of its first residential project in Coimbatore—situated conveniently between the railway station and the airport. This prime positioning aims to offer residents excellent connectivity. Furthermore, the company plans to offer homes within an affordable price range, emphasizing quality construction, desirable lifestyle amenities, and adherence to project completion timelines.
Coimbatore's Diverse Economy and Future Prospects
The city's economy draws strength from diverse sectors, including IT, support services, educational institutions, healthcare, and retail. While acknowledging the present market downturn, the group believes this period offers a lucrative investment window, poised for future returns as the market rebounds. "The city was going through a rough phase but it has industries to IT, support services, educational institutions, health care, retail etc. The Group is hopping that the down time is the best time to invest to reap awards when the market will bounce back in near future."
Future Expansion Plans
Beyond the initial residential project, Salarpuria Sattva Group intends to acquire additional land in Coimbatore for future ventures. The firm is also exploring opportunities in commercial, retail, and township projects within the city, underscoring its commitment to Coimbatore's emerging real estate landscape. They also expressed potential development of retail, commercial, and township projects in the near future.