Madambakkam property market: An overview

[ecis2016.org] Madambakkam is one of the rapidly-developing areas of Chennai and is located very close to the industrial zones and IT parks of Chennai. The area has good civic amenities and is very well-connected to the other parts of the greater city of Chennai

Madambakkam is a residential area located in the southern suburbs of Chennai. Nearby Madambakkam localities include areas of Chennai such as Ambika Nagar, Aditya Nagar, Sabhapathy Nagar and Mohan Nagar. The varieties of projects which are available in the area are many and they range from affordable to luxurious. There are a lot of reputed builders like the Siddhartha group, Nahar Foundations Group and JK Developers, who are working with their different projects in Madambakkam. Some of the premier projects in Madambakkam include Vijay Saras Builders Private Limited Swarnabhoomi, JK Barkkavan and Nahar Foundations Regency.

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The area lies in close proximity to the IT hubs of Chennai. As a result, there has been a surge in the demand for residential apartments in Madambakkam. Although the prices of flats in Madambakkam are going up at a rapid pace, affordable housing for the needs of the mid and the junior-level executives of the various companies, can still be found here.

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Madambakkam is in Kancheepuram district and the plans for a number of infrastructure projects have been drawn to be implemented. The civic amenities have also improved. The industrial growth and the growth of the IT sector, have also led to the development of the retail and hospitality sectors in the area. The town is well known for the Dhenupureeswarar Temple and the abundant natural sceneries.

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Connectivity with nearby Madambakkam localities

• There are a few major roads which run through the area, namely, the Velachery Main Road, The Chennai Bypass Expressway and The Grand Southern Trunk Road (GST).
• The area has an extensive bus service and the Adambakkam Bus Stand, the Tambaram Bus Stand and the Chromepet Bus Stand lie in close vicinity.
• There is a railway station at Tambaram from where the train services can be availed. The railway stations are approximately about 14 kilometres from Madambakkam.
• The International Airport Metro Station and the St Thomas Mount Metro Station lie in close proximity.
• The International Airport is located at a very close vicinity.

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Employment hubs near Madambakkam

• The MPL Towers are located at approximately 14 kilometres from Madambakkam.
• TECCI Park is located approximately 13 kilometres from the area.
• Pacifica Tech Park and the Varalakshmi Tech Park are approximately 14 kilometres away.
• Alpha City SSPDL is located approximately 15 kilometres away from the area.

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Schools in Madambakkam and other social amenities

Madambakkam offers very good social infrastructure to its residents. Some of the reputed schools in Madambakkam include the Chellammal Vidyalaya Senior Secondary School, Loyola Matriculation Higher Secondary School and Srimathi Sundaravalli Memorial School. Some of the leading hospitals in Madambakkam include the Dr Kamakshi Memorial Hospital, Chennai Krishna Hospital and Global Hospitals. The shopping needs of the residents are catered to by malls in Madambakkam such as the Phoenix Market City, Vantage Plaza and DLF Mall.

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Price trends in Madambakkam

• Price appreciation- Around 20% in the last one year.
• Current property rates- Rs 3,519 – Rs 4,664 per sq ft.

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Reasons to invest in Madambakkam 

Considering the price trends in Madambakkam and the rising demand, the locality should prove to be a good place for property investment. There is excellent appreciation of property rates, with a number of projects being developed here. Moreover, the area is also located in close proximity to the IT parks and the industrial zones of Chennai and hence, there is scope of development of infrastructure facilities here. Considering all these factors Madambakkam is an excellent place for investment.

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Source: https://ecis2016.org
Category: Lifestyle