Real Estate Situation in Madurai

The article is sponsored by OruAcre.com and if you want to contact, please call 9994262942 or email oruacre@gmail.com.

Till the beginning of 2001, land price was affordable in the Temple City for many people.

But, from the beginning of 2001, things started to change. Prices moved up. As the news spread that the then government was keen on establishing IT Parks in Tier-II cities, many property owners suddenly joined the list of crorepathis.

Real estate sector got heated up. Prices of land shot up so much so that buying a small piece of land anywhere in the city limits became expensive for many. Whoever had invested before 2005 has got the real estate profits effectively, because of the upward curve. Buyer's market. Now, it is all seller's market.

New Apartment projects are also visible on the Madurai sky — one can see them in not only thickly-populated areas such as S.S. Colony, off Bypass Road and near Mattuthavani Integrated Bus Stand, but even in suburbs such as Vilangudi and Paravai on the Dindigul highway, near Agricultural College on Melur Road, and Tirunagar in the southern parts of the city. The flats are available from the ‘affordable' Rs. 25 lakh to upscale Rs. 75 lakh and even more.

The passion for investing in housing plots is still there in Madurai.

The peripheries of Madurai such as places off Tirumangalam Road, Sivaganga Road, Melur Road and Dindigul highway gave become favoured destinations for plot buyers.

Though not many houses have come up in these areas, people have invested money hoping that it would bring in good appreciation in value in the coming years.

A piece of land in these stretches is sold at Rs. one lakh and above for a cent that measures 436 square feet.

Still, there is lot of opportunity to invest in Madurai and tap the potential, because once any major company comes in and invests, then Madurai is going to go to TOP.

The article is sponsored by OruAcre.com and if you want to contact, please call 9994262942 or email oruacre@gmail.com.