India’s reputation as an attractive global investment destination has soared over the last decade. In fact, real estate now comes second to the agriculture industry, in terms of being the country’s largest employer. Its numbers are only expected to grow even more over the coming decade. Real estate has brought about skyrocketing demands because of many diverse factors like more consumer-friendly financial organizations and greater availability of banking facilities, not to mention the increase in purchase power and the creation of better government reforms. Its all-time high record of $93 billion in 2014 is expected to increase twice as much by the year 2020. Of the different real estate locations in the country, Tier II cities like Coimbatore are receiving increased interest as more and more developments continue to spring up in and around its neighborhoods. Individual villas in Coimbatore are in great demand as the city’s economy continues its upsurge.
The increased sale of individual villas in Coimbatore is a major indicator of stronger real estate market. In the past decade, the real estate market in the city, as with the rest of the country, has been increasingly attracting business from across the globe, triggering many positive changes not only in India’s economy, but more importantly in the quality of life, as well as the opportunities for more lucrative investments for private consumers and typical home buyers as well as for serious investors.
The rapid growth of India’s real estate industry has also influenced many policy reforms in terms of real estate regulation and tax laws, the most notable of which are the Real Estate Regulation Bill or RERA and the Goods and Services Tax, more popularly known as the GST. Both of these reforms are positively affecting the way consumers are perceiving real estate investments in the country, urging more homebuyers to buy into growing markets like individual villas in Coimbatore.