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.

Real Estate Prices in Chennai - Price of Land in Chennai per sq.ft - price of apartment in chennai - house rate per sq.ft

Data from Mettro Pllots website. thanks to them! Localities Residential (Price per Sq.ft) Commercial (Price per Sq.ft) Sale Rent Sale Rent Abiramapuram 11323 30 8950 21 Adambakkam 5112 10 4632 14 Adyar 9885 20 10536 33 Alwarpet 12319 25 14435 43 Alwarthirunagar 4021 11 (Insufficient data) 20 Ambattur 2850 8 2874 29 Aminjikarai 5120 14 7925 20 Arumbakkam 4996 10 5727 19 Ashok Nagar 5681 13 10420 25 Ayanavaram 5608 13 4722 18 Besant Nagar 14729 22 13779 37 Chetpet 10502 22 13095 33 Chintadripet 5834 12 4656 23 Chitlapakkam 3548 6 4012 (Insufficient data) Choolaimedu 4581 12 9847 19 Chromepet 3455 8 4120 20 Egmore 7670 22 5710 30 K.K. Nagar 5700 12 8013 23 Kilpauk 11347 17 6951 21 Kodambakkam 5598 14 10244 23 Kolathur 3496 8 3819 20 Korattur 3759 8 2280 15 Kottivakkam 5525 16 5286 24 Kotturpuram 9476 18 7652 24 Koyambedu 5186 11 10564 28 Madhavaram 2686 7 (Insufficient data) 12 Madipakkam 3235 8 4333 23 Maduravoyil 4386 9 4906 19 Mahalingapuram 7917 16 5200 19 Manapakkam 3635 13 3379 (Insufficient data) Mandaveli 9454 20 10000 42 Medavakkam 3523 9 4925 20 Mogappair 5135 10 6305 15 Mugalivakkam 2984 9 (Insufficient data) (Insufficient data) Mylapore 10237 18 10157 24 Nandhanam 10360 12 13888 21 Nanganallur 3537 9 4121 24 Nanmangalam 2586 6 (Insufficient data) (Insufficient data) Nesapakkam 3984 10 (Insufficient data) 15 Nungambakkam 11729 19 9562 41 Padi 3708 9 2123 13 Pallavaram 3458 8 4332 19 Pallikkaranai 4086 9 3351 13 Pammal 2741 7 (Insufficient data) 8 Perambur 3865 10 (Insufficient data) 20 Perungudi 4387 11 2893 25 Poonamallee 2841 7 6326 15 Porur 3529 8 4028 18 Purasavakkam 8966 14 7278 25 Raja Annamalaipuram 14861 25 (Insufficient data) 35 Ramapuram 4067 11 (Insufficient data) 29 Royapettah 11213 17 10913 27 Saidapet 4797 12 4833 17 Saligramam 4272 12 (Insufficient data) 32 Santhome 10403 26 7500 23 Selaiyur 3642 8 (Insufficient data) (Insufficient data) Shenoy Nagar 11612 15 (Insufficient data) 17 Sholinganallur 3956 14 (Insufficient data) (Insufficient data) T.Nagar 10516 17 15197 35 Tambaram 3294 8 4098 25 Teynampet 8667 17 8550 25 Tharamani 6496 15 (Insufficient data) 14 Thiruninravur 2229 6 2083 (Insufficient data) Thiruvanmiyur 7137 15 7813 27 Thoraipakkam 4610 16 5000 35 Ullagaram 2765 8 (Insufficient data) (Insufficient data) Urappakkam 2288 6 (Insufficient data) (Insufficient data) Vadapalani 4672 12 7276 25 Valasaravakkam 3995 10 4776 21 Velachery 4555 13 7463 29 Villivakkam 3633 9 (Insufficient data) 22 Virrugambakkam 4457 11 4722 17 West Mambalam 8963 13 8111 34