Coimbatore, known as the “Manchester of South India”, has emerged from a city known for its textiles to a thriving industrial zone. Due to infrastructure, economic activity, and connectivity to essential institutions, Coimbatore has evolved into a prominent real estate destination.
Over the years, the city has attracted students, working professionals, families, homebuyers, and investors, all of whom contribute to the growth of the residential market.
However, not every place is without its challenges, and Coimbatore’s comes in the form of Construction Costs:
In this blog, we explore Coimbatore’s rising residential market, the city’s construction cost challenges, and how they can be reduced with G Square Build Assist.
Coimbatore’s Strong Residential Market Growth:
Coimbatore is considered a strong-growing real estate destination due to its connectivity, infrastructure development, and economic expansion. Key features that contribute to the city’s residential market growth include:
- Coimbatore, a Diversified Economy: The city not only generates revenue from a single source but also has a diversified economy across sectors such as textiles, manufacturing, IT, and healthcare, creating more employment opportunities and driving urbanisation.
- Connectivity: Having connectivity is key to any location thriving. Being close to road, air and rail transport will aid in the growth of Coimbatore. Not only that, but being well-connected to essential services such as educational institutions and hospitals will help boost Coimbatore’s market growth.
- Infrastructure Developments: Upcoming projects, such as the expansion of the Coimbatore International Airport and the widening of National Highway 948, will accelerate economic growth.
- Pricing: Coimbatore is known for its affordability compared to cities such as Chennai and Bengaluru, making it more accessible to a wider range of people.
All these factors will result in greater demand for residential properties in Coimbatore and, in turn, increase the city’s growth.
Construction Cost Challenges:
The homeownership journey is not without any hurdles, a notable one being construction costs. Several factors contribute to construction costs. They include:
Increased Material Costs:
Major materials such as cement, steel, and sand have increased in price in recent years. This is due to the supply chain issues, increased transportation costs, and higher demand.
Increased Labour Costs:
Due to a shortage of skilled workers, construction will be delayed, and labour costs will rise.
Developing Infrastructure:
With the expansion and widening projects in place, land prices will increase, adding to construction costs.
Regulatory Compliance Costs:
Getting land approval not only takes time but also costs have increased in the past few years, adding yet another hurdle.
The G Square Build Assist Advantage:
G Square Housing, one of the top real estate developers in India, seeks to overcome construction hurdles with its post-purchase guidance program, G Square Build Assist. It is a one-of-a-kind program that provides G Square buyers with support throughout the construction process.
How does it aim to solve the construction cost problems?
Connections with 50+ Top Brands:
G Square has collaborated with more than 50 brands across materials, project management, appliances, furnishing and many other brands, to provide the ultimate assistance to buyers from house plans to housewarming plans. In addition, G Square customers receive an exclusive discount that is rarely offered by other real estate developers.
Material Procurement Experts:
These consultants are experts in material procurement. Due to their expertise, they make informed decisions that will help customers immensely. They ensure that the materials obtained meet the requirements, are delivered on time, and comply with safety standards. This ensures that increased costs can be prevented.
Construction Approvals:
Consultants will guide all construction-related approvals to ensure a smooth building process. G Square Build Assist also provides access to Vastu Compliance experts, ensuring that the layout and structural aspects of a house comply with Vastu Shashtra, a set of principles that has guided architecture for centuries.
And that’s not all! You also gain access to:
- Villa design and elevation consultants
- The Best Interior Designers
- Help from Consultants for construction-related approvals
- Floor planner to help plan your space
- Consultants who specialise in Landscape Design and Execution
- Organisation and Execution of your Gruhapravessam (housewarming ceremony)
- Consultants who will help in the purchase of home appliances at the best price.
Conclusion:
Coimbatore’s residential market is rising and will continue to grow in the near future and beyond. As infrastructure and connectivity improve, one must also be aware of construction costs that can pose a challenge on the path to home ownership.
Initiatives like G Square Build Assist can decrease the hurdles by addressing issues through guidance and support throughout the construction process.
If you are looking for a new home in Coimbatore, you have the opportunity to choose any of the following projects: G Square Lavender, G Square The Residency, G Square White Oak, G Square The Paradise, G Square Western Ghats, and G Square Hillview; and these are just a few of them.
Choosing G Square Housing means you choose one of the best property developers in Coimbatore, giving you the opportunity to make your dream home a reality!
