Coimbatore Airport Expansion to Fuel Real Estate Growth in Neelambur, Singanallur, Kalapatti, and Irugur
The expansion of Coimbatore International Airport is set to boost real estate prospects in nearby localities, including Neelambur, Singanallur, Kalapatti, and Irugur, with increased demand for housing, commercial spaces, and infrastructure.
Coimbatore Airport ExpansionReal Estate GrowthNeelamburSinganallurKalapattiIrugurTamil NaduIndiaReal Estate MaharashtraAug 21, 2024
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 the establishment of new businesses. This, in turn, will spark a surge in real estate growth across these localities, driving the demand for housing, commercial spaces, and infrastructure.
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 will witness a spurt in housing properties such as apartments and villas.
In addition to conventional real estate mediums such as apartments and villas, new-age real estate investment options such as plotted developments are also witnessing a rise. 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.
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 residential and commercial properties, mainly plotted developments.
About Coimbatore International Airport
Coimbatore International Airport is a major airport serving the city of Coimbatore, Tamil Nadu, India. The airport is located about 13 km from the city centre and is well-connected to major cities in India and abroad.
About National Highways Authority of India (NHAI)
The National Highways Authority of India (NHAI) is an autonomous agency of the Government of India, responsible for the development, maintenance, and management of the National Highways network in India.
About NewsVoir
NewsVoir is a leading press release distribution platform in India, providing news and content to media, investors, and consumers.
Frequently Asked Questions
What is the current status of the Coimbatore Airport Expansion project?
The runway expansion at Coimbatore International Airport is nearing its final stages, with the land acquisition process almost complete.
Which localities are expected to benefit from the airport expansion?
Neelambur, Singanallur, Kalapatti, and Irugur are the localities expected to benefit from the airport expansion.
What type of real estate developments can be expected in these localities?
Housing properties such as apartments and villas, as well as new-age real estate investment options like plotted developments, can be expected in these localities.
What is the significance of the Multimodal logistic park in Neelambur?
The Multimodal logistic park in Neelambur is expected to further boost the development of the locality and provide employment opportunities.
What is the expected impact of the airport expansion on the local economy?
The airport expansion is expected to drive significant economic benefits for the region and the residents, including job opportunities, increased tourism, and the establishment of new businesses.
Tags:
Related News Articles
Pune Luxury Car Accident: Court Grants Bail to Father and Grandfather of Accused Teen
A Pune court has granted bail to the father and grandfather of a 17-year-old accused of running over two people with a luxury car while intoxicated.
Japan's Commercial Real Estate Market Sees Mixed Q2 2024 Results
Commercial real estate transaction volume decreased by 25% year-over-year, but hotel transactions and office acquisitions saw significant increases
Suraj Estate to Raise ₹500 Crore via Preferential Issue of Shares and Warrants
Suraj Estate Developers Ltd. is set to raise up to ₹500 crore through a preferential issue of shares and warrants to eligible shareholders. The company's board has approved the fundraise, which will see shares issued to notable names including Vanaja Sund
Maharashtra Assembly Elections 2024: Thane Police Launch 'Operation All Out' for Safe and Peaceful Polls
The Thane Police have initiated 'Operation All Out' to ensure a safe and peaceful environment in the lead-up to the Maharashtra Assembly Elections 2024. The objective is to maintain societal peace and a fear-free atmosphere for voters.
NIFTY Realty Index Soars 38% in 2024: Top Performing Sectors and Key Players
The strong performance of the real estate market and consolidation among large players have provided essential stability to the sector. Government initiatives and growing investor confidence have further bolstered the industry.
Mumbai Dominates Ultra-Luxury Real Estate Market with 52 High-End Deals in 2024
In 2024, the ultra-luxury real estate market saw a significant surge, with 59 homes priced over ₹40 crore sold across the top seven cities. Mumbai alone accounted for 52 of these deals, representing an 88% share of the total market.