Track2Realty Exclusive: If you think Coimbatore is a typical Tier II city with no lifestyle that can match a hip and happening city like Bangalore, then probably you have not been to Kalapatti in the city. In over a decade this location has transformed into a property paradise where lifestyle galore and is too cosmopolitan as per the standards of not just Tamil Nadu but entire South India. The young professionals in the region are changing the spending pattern and the lifestyle choices and it has a chain effect on the overall economy of the region in general and property market in particular.
Kalapatti is a suburb of Coimbatore which has now merged with Corporation of Coimbatore. Because of invasion of IT companies surrounding in and around Kalapatti like Peelamedu, HopeCollege and Sarvanampatti there is a fast rapid improvement in this place. It is close to the Coimbatore International Airport which is just about 7 km away.
Traditionally, Kalapatti had agriculture as its key business till late 80s and it was known more for the cotton industry. It was also a supplier of agricultural products to the city with its key crop as corn and vegetables like tomato, bringal and ladies finger.
Kalapatti was the head place for the surrounding suburbs of Valiyampalayam, Vilankurichi, Veeriyampalayam, Kaikolapalayam and Mylampatti. Not any more. The urbanisation has completely transformed the look & feel and outlook of the place and at present Kalappatti is on a highway of rapid development. The start of Sharp industries in 1976 turned the key for its developments. Later a lot of machining industries (lathes) and motor industries grew up.
Today some of the world class motor pumpset brands Sharp, Ventura, Fisher and Point originate from Kalapatti. It is also home to many solar water factories. Kalapatti has the geographical advantage of in midway between two National highways, Avinashi Road NH-47 and Sathy Road NH-209.
The southern part of the suburb, which is closer to NH-47, had better development when compared to the other parts of the suburbs. The southern part of the suburb known as Nehru Nagar is well known for the rapid growth in recent years. Some of the upscale residential developments are located over here.
In the recent days many Restaurants, Coffee Shops have opened changing Kalapatti’s rustic Culture. The IT boom has caused land rates to rise, so many farmers who had land sold to real estate companies at very high rates and settled in other outer areas. Lot of new apartments are coming up in these farm lands. There are many midnight clubs in Kalapatti which attract college students and IT Professionals.
The exiting property rates in the region are Rs. 9000-12000 per sq yard for plots and apartment price is between Rs. 3500 to Rs. 4800 per sq feet. Till a few years back the focus was more on the residential land but that has been changing in the last couple of years with a number of apartments coming up in this market. Also, the entry of IT professionals in the market has completely changed the way housing choices were seen in this part of the world.
