[ecis2016.org] Madipakkam, located very close to the industrial zones and IT parks, is one of the rapidly developing areas in Chennai. The area has good civic amenities and is very well-connected to other parts of the city
Madipakkam is a residential area located in the southern suburbs of Chennai. Nearby Madipakkam localities include many famous areas of the city such as Velachery, Medavakkam, Nanganallur, Adambakkam, Tambaram, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like Arun Excello Group, Rammiyam Group and Navin Housing who are working on their different projects in Madipakkam. Some of the premier projects in Madipakkam include Doshi Symphony, Navin Housing Sristi, Arun Excello Arunanjali, Rammiyam Homes Rammiyam, etc.
You are reading: Madipakkam property market: An overview
The area lies very close to the IT hubs of Chennai. As a result, there has been a surge in the demand for residential apartments in Madipakkam. Although prices of the flats in Madipakkam are going up at a rapid pace, still, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can be found here.
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Madipakkam has been recently brought under the purview of the City Corporation of Chennai and the plans for a number of infrastructure projects have been drawn up. The civic amenities have also improved here. The industrial and IT sector growth have led to the development of retail and hospitality sector as well.
Connectivity with nearby Madipakkam localities
- There are a few major roads which run through the area – i.e., the MKN Road, Inner Ring Road, Grand Southern Trunk Road, Inner Ring Road and Velachery Main Road.
- The area has an extensive bus service and the Adambakkam Bus Stand, Guindy Bus Stand and Chrompet Bus Stand lie in close vicinity.
- There are railway stations at Tambaram and Guindy, are approximately 14 and 7.5 kilometres (respectively) from Madipakkam.
- The Alandur Metro Station and St Thomas Mount Metro Station also lie in close vicinity.
- The international airport is nearby Madipakkam too.
[ecis2016.org] Property rates & trends in Madipakkam, Chennai
Employment hubs near Madipakkam
- The MPL Towers is at a distance of approximately 3 kilometres.
- Bahwan Cybertek IT Park is located approximately 6 kilometres from the area.
- ASV Suntech Park and Prince Info City are also approximately 6 kilometres away.
- Shapoorji Pallonji Infocity and Olympia Tech Park are also only 7 kilometres from the area.
Madipakkam offers very good social infrastructure to its residents. Some of the reputed schools in Madipakkam include the Sivashakthi Matriculation School, New Prince Matriculation Higher Secondary School, Abacus Montessori School, etc. Some of the leading hospitals in Madipakkam include the Dr Kamakshi Memorial Hospital, BM Hospital, Velachery KS Hospital, etc. The shopping needs of the residents are catered by malls in Madipakkam such as the Phoenix Market City, Vantage Plaza, Matrix Mall, etc.
Price trends in Madipakkam
- Price appreciation—Around 36% in the last one year.
- Current property rates—Rs 4,612-Rs 8,015 per sq ft.
Reasons to invest in Madipakkam
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Madipakkam lies very close to the IT parks and industrial zones of Chennai. Also, Chennai City Corporation has recently taken over the administration of the area, so the scope of development of infrastructure facilities is good in the region. Further, considering the price trends in Madipakkam and the rising demand, the locality will definitely prove to be a good investment region in future. There will be excellent appreciation of property rates in the area and with a number of projects which are being developed, the area will only grow further.
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