Tuesday, 15 September 2015

Mantri Developers Reviews- Chennai working professionals favour Madipakkam

Buoyed by its proximity to the OMR and Velachery, residential and commercial spaces in Madipakkam have changed significantly.

Many parts of the city saw major development when the realty boom happened in Chennai. R Ramkumar bought a plot in Madipakkam 20 years back and the scenario was drastically different then. “Madipakkam has developed a lot in the last six to seven years in a way that I had never imagined. Twenty years back, there were just a couple of houses around our plot but today, I can hardly see any vacant space,” he says.

Connectivity and social infrastructure have played a major role in changing the face of Madipakkam. R Sivakumar, CEO, Palace Homes says, “Residential and commercial spaces in Madipakkam have changed significantly in recent years due to its proximity to Velachery and affordability. The scenario here is quite similar to Anna Nagar and Mogappair. Its connectivity to OMR, Velachery and Alandur through the inner ring road, affordable pricing, the presence of schools, hospitals and other social amenities in and around Madipakkam have made the area a favoured location for working professionals in OMR and Velachery.”

The micro market has been seeing a lot of action from small scale builders as well. “As far as the residential market in Madipakkam is concerned, the area is dominated by small scale builders, who construct six to 12 homes in a project. Commercial space has seen a surge with a lot of well-known retail chains setting up outlets here. Prime spaces for commercial property are witnessing a huge demand in the locality,” says Nataraja S, chief manager, sales, Navin's.

Sivakumar feels that though there isn't much residential space left now towards the west of Madipakkam, a strong flow of residential and commercial activities can be seen in Ram Nagar and Kuberan Nagar. “Projects that cost around 30-50 lakh have been in huge demand in the locality.” he says.

While social infrastructure has seen only minimal changes in the past few mal changes in the past few years, physical infrastructure has undergone a massive change with the development of new roads, underground sewage and storm water drains.

Source from: http://content.magicbricks.com/industry-news/chennai-real-estate-news/chennai-working-professionals-favour-madipakkam/82821.html.

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