Land prices are an area of concern in Coimbatore as it impacts the competitiveness of industries, said V. Parthiban, Managing Director of Bull Machines, in Coimbatore on Saturday.
Speaking at a panel discussion organised by the Confederation of Real Estate Developers Associations of India, Coimbatore, on “Coimbatore Real Estate : Leading the Upswing”, a report by JLL, he said that in a globally inter-connected business environment, industries need to be competitive. Manufacturing units require large space and availability is an issue. The return on investment is affected by the high land prices. The top 100 cities in India should each have at least three ring roads. It will free up land for development, he said.
Three-day property fair, Fairpro, takes off in Coimbatore
According to Rajesh B. Lund, president of the Indian Chamber of Commerce and Industry, Coimbatore, education, healthcare and Information Technology are emerging sectors in Coimbatore. Several hospitals are looking at opening facilities here. Regarding the trend in demand for residential units, Mr. Lund said customers now prefer larger spaces, be it for villas or apartments.
Gugan Ilango, president elect of CREDAI Tamil Nadu, said Coimbatore saw launch of 50 projects in the last eight months. The government should support the property sector with higher FSI and lower GST so that the affordable housing sector can get a thrust, he said.
