Coimbatore, sometimes called the textile city, is one of the few cities in the country that offers low-budget real estate investment opportunities. Located in the southern state of Tamil Naidu, Coimbatore has come a long way from its roots as a sleepy little textile hub. It has grown from a small town to a smart city, housing numerous major industries and businesses. Coimbatore has seen rapid development recently and is also one of the 20 cities that are to be developed during the first phase of the Centre’s Smart City Mission.
Coimbatore is famous for its thriving cotton and textile industry and there has been a large influx of modern industries, primarily in the service sectors. The city is fast emerging as a favorite destination for residential home buyers. Here are a few good things about buying residential plots in Coimbatore.
- Real estate sector is flourishing and is the safest option for investment especially residential properties as compared to other volatile investment options such as stocks and commodities. Despite the recession, fluctuating economies and financial crisis, purchasing residential property in Coimbatore or any other city is an all-around safe investment for everyone
- Residential plots in Coimbatore are easy to be financed. Bank can loan up to 95% of the value of property. This is the maximum percentage of loan credit that they offer for any form of investment. Even if you have a small capital to invest in real estate, you can obtain a loan for rest of the amount
- Investing in both commercial and residential property will make you witness exponential growth. However, if you are purchasing a residential plot which is not yet completed or buying a ready-to-move house, you can always rent it out. This will be a good source of income for you and your family. And with time, your property will appreciate in its value thereby generating more money. Later you can renovate the place to sell it at a better price
- Investing in residential plots is easier than investing in other forms. Other forms of investment require time to read and understand the know-how of the field. However, you do not need a lot of knowledge and experience to buy a residential plot. Just do proper research about the locality and budget and go for it
If you have never bought property in the past, you can hire a real estate agent to help you find the right residential plot in Coimbatore for you.