The commencement of the first phase of the Coimbatore Western Bypass has accelerated investment activities in the Coimbatore area.
This is a significant development for the area. Furthermore, this 11.8 km long road connecting the area from Milekal to Madhampatti Junction is part of the overall 32.43 km bypass road project. This will significantly reduce the traffic congestion of passengers.
This four-lane road, with flyovers, underpasses and bridges, reduces the travel time between Maykal – Madhampatti from around 45 minutes to just 10-15 minutes. It makes Coimbatore more accessible than ever, as it facilitates transportation to key locations in Coimbatore city such as Ukkadam, R.S. Puram, Race Course and Town Hall.
Known for its clean air and peaceful environment, Coimbatore is now emerging as a major growth zone with improved road facilities. The new road facility has increased the attractiveness of Coimbatore among home buyers and investors as it has made transportation easier. Improved road infrastructure is often a major factor in the rise in real estate prices; Coimbatore is expected to benefit greatly from this.
As transportation facilities improve, land prices are likely to rise steadily. This will encourage investors, developers and landowners to take advantage of the opportunities in the area. The vast expanse of land in the area and its proximity to the new road network make it a very suitable place for long-term investment. Coimbatore is expected to attract the attention of both individual investors looking for long-term appreciation in land and construction companies planning large residential projects.
In the short term, the area is likely to see an increase in residential projects, including villas and mid-to-high-end housing projects. The pleasant environment here is ideal for ‘second homes’ and retirement living for those looking to take a break from their busy lives. As the demand for housing increases, social infrastructure such as schools, hospitals and retail outlets will also develop further.
Once the second and third phases of the Western Outer Ring Road are completed, its long-term impact is likely to be manifold. The second and third phases, which are scheduled to commence soon, will not only further improve the transport connectivity but will also significantly boost the real estate opportunities in the surrounding areas. Once these phases are completed and operational, the Coimbatore area is likely to witness rapid growth in commercial offices, residential centres, co-working centres), restaurants/hotels and logistics centres and warehouses near major junctions.
Land prices in the Coimbatore area are already seeing a steady increase. As infrastructure development works and transportation facilities continue to improve, land values in the area are expected to increase even faster. Since the announcement of the road project, there have been signs of initial land prices in the area increasing.
