Madurai, another tier-two city in southern Tamil Nadu, and another hot-spot for real estate – thanks increasing availability of facilities such as mini-bus services to suburbs, and anticipation of investments especially in the IT and BPO sectors.
Today, Madurai suburbs are where all the action takes place, as the city spreads out rapidly.
The real estate prices which doubled as soon as this announcement was made a couple of years back, is continuing its upward journey, thanks to investments in infrastructure and IT.
A state government sponsored IT park is also in the vicinity, and a couple of other IT park developers are looking at this location. Moreover, the proposed four way road connecting the state capital Chennai to the southern tip Kanyakumari is set to pass through this area.
The southern side of the city is witnessing frenzied activity as the state government is to set up an IT park there. Large swings in real estate prices have taken place in the area as it is very underdeveloped currently.
1. Emerging as an IT and BPO hub.
2. The northern suburbs is having major construction activities.
3. The city is an education hub of the state.
4. Commercial activity is being happened in the center of city.
5. The residential property segment in Coimbatore is growing both qualitatively and quantitatively.
6.The Government intent on developing Madurai as a tier II city to facilitate the IT sector and industry bodies coming up with plans to industrialize the region, the activity has gained in momentum.
7. K.K. Nagar, KMSL colony, Chokkikulam and Tallakulam areas, DRO Colony Road, K.Pudur are preferred for residential development.