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 sq.ft by 2024. The average rental value is ₹55 per sq.ft a month and in 2024 alone 1.4 million sq.ft was absorbed.

In the case of logistics and industrial space, the availability has expanded 47% to 6.6 million sq.ft, 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.

Published – August 08, 2025 07:49 pm IST

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