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

Madurai Real Estate - Rakindo Developers: Madurai

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Real estate developer Rakindo Developers has unveiled its plan to build a $1.5 billion (Rs 6,000 crore) integrated township at Coimbatore. It is expected to be ready for launch by the last quarter of 2008. The flagship project of Rakindo Developers in the texcity will be developed over 1,000 acres with an 18-hole golf course as the centrepiece, Rakindo Developers MD Prasad Koneru told.

Rakindo is committed to invest $ five billion in India over the next five years and will on a conservative estimate build about 50 million sq ft. It has several integrated township projects in the pipeline. These include 500 plus acre project at Hosur, 1,000 acre at Gurgaon, 450 acre at Cochin, 250 acre in Trichy and 500 acre in Madurai.

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