NewsVoir
Coimbatore (Tamil Nadu) [India], August 21: The runway expansion at Coimbatore International Airport is nearing its final stages, with the land acquisition process almost complete. The ambitious project, spanning 627.89 acres is reported to include development works that includes extending the current runway from 9,500 feet to 12,500 feet and significantly enhancing the airport's capacity. The airport expansion is also projected to set in place numerous infrastructural developments within the city. Key areas including Singanallur, Uppilipalayam, Kalapatti, Neelambur, and Irugur villages are at the forefront of this development. The airport expansion is expected to create a ripple effect across these regions including job opportunities, increased tourism and establishment of new businesses. This, will in turn spark a surge in real estate growth across these localities driving the demand for housing, commercial spaces, and infrastructure.
Real Estate Developments around the vicinity
The strategic location of Neelambur, Singanallur, Kalapatti, and Irugur, combined with the government's focus on development, makes these areas highly attractive for the city's real estate prospects, investors and homebuyers. These localities as a result will witness a spurt in housing properties such as apartments and villas. In addition to the conventional real estate mediums such as apartments and villas, new age real estate investment options such as plotted developments are also witnessing a rise, which comes with developments offering the unique opportunity to build a customized dream home within a secure and well-planned environment. Plotted development happens to be the latest homebuyers preference in the real-estate trend.
As Coimbatore strengthens its position as a commercial and industrial centre, the expansion of the airport also drives significant economic benefits for the region and the residents. Neelambur, Singanallur, Kalapatti and Irugur with their strategic location, growing infrastructure, and proximity to the airport, are poised to become a prime investment destination right now in Coimbatore, transforming it into a thriving residential and commercial hub also with many lined up commercial spaces like Malls, Shopping complexes and Cinema theatres.
Multimodal Logistic Park in Neelambur
Certain locations within these zones, such as Neelambur, are also anticipated to experience further development. Recently, the state government identified Neelambur as an economic capital growth area in its master plan for Coimbatore development. The locality has emerged as a focal point, as the National Highways Authority of India (NHAI) recently identified 219 acres at the neighbouring Karavazhi Madhapur village to set up a Multimodal logistic park.
Most of these developments are already in plans promising rapid growth in both real estate and connectivity in the coming years, which will further witness a surge in the residential and commercial properties, mainly plotted developments. This will also be further boosted by its strategic location, improved infrastructure, and proximity to the expanding airport and Bypass connectivity.
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