Great Madurai spreading wings!!! Dream come true for Madurai

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Madurai, a tier-two city in southern Tamil Nadu, best known for its temple and jasmine flowers, is expanding on all sides, thanks to height restrictions on buildings within the city, growing wealth, increasing availability of facilities such as mini-bus services to suburbs, and anticipation of investments especially in the IT and BPO sectors.

On the residential side, good quality constructions range from Rs 1,000 a sq ft to Rs 2,000 a sq ft in up market areas, while residential rentals vary greatly based on location. Sahara City Homes is setting up a huge project in the suburbs. Local players such as Visvas Promoters and Sashwath Constructions have a good number of residential projects under development.

Organised retail is just beginning to get a toe hold in the city and the real estate valuations are largely built on the hope of IT majors setting shop in the city in the next few years.

The article was very impressive about Madurai. Please read the original in economictimes