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Rural Land Realty in Coimbatore...


Land selling has picked up in Coimbatore with the advent of more realty promoters as they try their hands in it as well as the help offered by the local media and above all agriculture in Coimbatore gets a downfall due to expansion of city, growth of population and reducing water tables that don’t allow agriculture to flourish. Mostly vast land owners themselves have become land sellers and turned out to be realtors. Once considered to be an agricultural property which pulled out most of the weight of the land owner, the vast properties nowadays tend to yield riches in the form of flats and farm houses either approved by the DTCP or not. Coimbatore’s outer region starts in the east from Chinthamanipudur and in the west from Vadavalli and Vedapatti and in the south from Kurichy and Madukkarai as well as in the north and north east from Chinniyampalaiyam, Thudiyalur and Vilankurichi etc. Coimbatore we can’t say is a vast city like Chennai or Bangalore. The expected growth of the city getting expanded in all directions is not on the expected line as though it was debated even before 5 years that the city was expanding. We can find in the last couple of years the city is really expanding and real estate business is rolling.

Coimbatore was initially a city based on agriculture that is 30 years ago as the much harvested cotton has made the cotton industry to reach its pinnacle. The industry nowadays has reached its nadir as more unionism has spoilt modernisation and the support to the agricultural products have become low. The loss of big textiles industry has otherwise provided the empty cups a different kind of tea as more small industries have evolved. We have a series of gear manufacturing industries nowadays, all small and medium industrial sectors along with pump and wet grinder or related industries. There is always a saying which goes Coimbatore is a modern city without electronics as the electronics industry still does not have its firm foot here. Construction sector is getting a boost as a few multinationals are trying to have their establishments here to tap the technical potential of the city. Even they don’t have their main centres here. They can at least have their recruiting as well as training centres here. A few to note are the TCS, COGNIZANT and a few medical transcription companies. The hospital industry has gone ahead as they have vast potential man power here, and with the advent of medical tourism, the industry is going to catch a lot more falling stars. Governental projects like the ESI at singanalllur soon will have its multispeciality hospital with advanced MBBS and nursing programmes which has already got hundreds of north indian workers contribute their labour to the core. Such types of innovative scenes have provided fresh potential to the construction industry as more individuals are having more money and more industries are going to have more infrastructure.

Of course other than Chennai what is Coimbatore which is the second best centre of development. The city needs more space to accommodate more human beings and hence the rural lands of Coimbatore need to be marked for residential as well as industrial projects. Already there is a textile park established at Avinashi and one more software park is going to come. Rural lands are sold to individuals in different varities. There are big players like Ramani’s realtors and Daksha or there are small land developers like the Thiruvathirai builders and Green Home promoters, different investments and different business models. Nowadays, all sorts of people prefer to have apartments and individual built houses as per their budget and needs. Houses are nowadays available for a budget of meager Rs 7 lakhs to 1.5 crores and they are sought out as per the individual needs and family status, but a purchased site is a site that is believed to have an ascending value. Mr Ramakrishna, a retired teacher, has got vast 7 acres land at the Naickenpalaiyam village near Pattanam which is very close to the small town Singanallur has become a millionaire after selling his agricultural land which has been a failure. Nearby found is the ESI land which is meant for the quarters built for the sake of ESI employees. Ramakrishnan mostly sells his land for the NRIs and hence is going to build a small row of apartment buildings around 25 houses with intrinsic value. They would be liked by the NRIs he feels. GVS Property Developers are selling their sites for a low price of per cent Rs 25000.

Gokulam Gardens established in the Sathy road costs around 90000 per 1000 sq feet and can be registered for just Rs 1000 as advance. Senthur Gardens at Annur will have built in houses for Rs 7 lakhs with a plinth area of around 1000 sq feet. The villages near Trichy road area are buzzing with a lot of land selling activity as the villages near Sulur, Irugur, Karanampettai etc all have their lands split and sold. Muthu City Developers have their houses sold for Rs 25,00,000/Rs 26,00,000/and Rs. 22,00,000 and Chola Promoters will have their individual houses for a paltry sum of Rs. 33 lakhs which is so nominal for a built in house at Sulur. Vel promoters sell their individual built-in houses for a cost of Rs 7,00,000 which is available near Pappampatti a small village near main Trichy road. There are also a few prizes offered like the first come ten registrations would be offered with free individual houses. Soon Ramani’s Realtors will have its Coconut Garden in Vellalore an apartment built with modern facilities in a village like Vellalore. These are the developments taking place in Coimbatore and with proper banking and other types of financial support, the real estate industry will achieve the task of providing houses to each and everyone as per the vision of Bharathi the famous tamil poet, “kani nilam vendum”- a piece of land for everyone to live.

At Pappampatty and Bogampatty, house sites ranging from 2.5 to 3 cents cost around a paltry Rs 50,000 per cent. Garuda Promoters are active in selling farm land in palladam a small town near Coimbatore as well as house sites for just paying Rs 10000, near karadivavi they sell lands for just Rs 30000 per cent. Legal professionals feel such type of active selling of lands need to be carefully watched whether they have DTCP approval, whether the documents are clean. However, there is a general feeling that most lands are far higher than their guidance value fixed by the government and the government has to check this. Beyond this, individuals buy around 5 to 10 cent of lands and collectively build their own apartments sharing the right over the ground equally.

This is the trend that is catching up with like-minded people and friends. Gone are the days where the employer will build quarters for their employees and nowadays a spirit is found looming large among individuals for buying and building properties.

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