Race course's history
Race course road at Coimbatore is a famous,aswell as popular, joggers’ track in the city. The history of this road dates back to 1815 when this area was used by the British for horse racing. And John Sullivan, the-then collector of Coimbatore district was the one who laid and beautified this road with trees on either side giving it the look of a boulevard. The Coimbatore City Municipal Corporation (CCMC) has taken steps to give the area a facelift by improving the road conditions of this area and making it a pollution-free zone.
The 2.5-km path with cement concrete tiles had been renovated recently with many private sponsors providing the tiles, improving the gardens, putting up children’s play area and also models of monuments such as Eiffel Tower, the Hawa Mahal and the Bahai Faith Temple. One of the posh localities in Coimbatore, rentals has reached astronomical heights in this area. Commercial: Race Course road is the gateway to Avinashi Road that is dubbed as the prime business corridor in the city. Race Course is dotted with recreational clubs like the century - old Coimbatore Cosmopolitan Club and restaurants like Annalakshmi Annexe, Surya International (which is now giving way to Taj Hotel), Cafe Coffee Day and offices of trade bodies like the Southern India Mills’ Association (Sima) and the Southern India Engineering Manufacturers’ Association (Siema).
The rental value of commercial property hovers between Rs 20 to Rs 40 per sq ft. Residential:Considered as the upscale location in Coimbatore, the area boasts of having the District Collector Bungalow and the large Palatial houses of the families of industrial houses like Lakshmi Mills, LMW, LG, KG, Rajshree group, Premier Mills and Super Spinning. It also has the 250 year old “Bungalow 5” which was the residence of late G K D, founder of LMW. It is being preserved as a heritage property. Congress leader and former Minister R Prabhu from Nilgiris Lok Sabha constituency has his house in the area. State Bank of India has its prime property in the area. T Stanes and Addison of Amalgamations group own large properties in the area. Rahejas were the first to promote a major apartment complex here early ninties. Some of the bungalows have been transformed to resemble like apartments. A report on Emerging Growth Centres by Knight Frank predicts that this road will emerge as an important, high - end residential area in the city.
Presidium Constructions’ KG Gardeneia -the Rs 1-crore apartment project -is situated on this road. Srivari Property Developers has started construction for an apartment complex in Race Course area in the price range of Rs 55-65 lakh. And, more and more residential developers are eyeing this area for their premium and ultra luxury projects to cater to the needs of the well-heeled. The capital value of residential property isRs 2,700 to Rs 3,500 per sq ft which is the highest in the city. Cost of one ground is pegged at Rs 1 crore.
