Chennai has seen phenomenal growth in the past decade thanks to the growth of the IT industry, similar to Bangalore. But heavy industries too have contributed to the expansion of the city’s suburbs making them highly viable residential areas to invest in. Take Maraimalai Nagar for instance.
Once filled with vast tracts of farmland, Maraimalai Nagar was developed in 1980 by the Chennai Metropolitan Development Authority (CMDA) as a satellite city. The appearance of Mahindra World City immediately boosted its attractiveness as a place to invest and with companies like Ford and BMW setting up their production units here, Maraimalai Nagar has become a sought-after location. Does it continue to have good potential today for investing? Definitely. Here are some of the factors that make Maraimalai Nagar a great place for the future.
Pricing
Maraimalai Nagar currently caters mostly to the middle-income group, which means there is a high preference for properties in the Rs 20 lakh to 40 lakh range.
Supply is high, and therefore rents are low.
The average price per sq ft right now ranges between Rs 3,200 and Rs 4,400 making it ideal for investors looking for budget properties.
Employment opportunities
Maraimalai Nagar offers a wealth of opportunities for jobseekers. In addition to Mahindra World City, which houses numerous multinational companies, this is one of the prime locations for manufacturing and global software companies.
Top companies in Maraimali Nagar:
Accenture
Infosys
Ford India
TAFE
Siemens
Multiple engineering, automotive, and ancillary industries have factories here, as well, making Maraimalai Nagar a prime area for residential investment. It is also located close to the industrial area of Sriperumbudur and Oragadam.
Connectivity and transport
As recently as 2010, Maraimalai Nagar residents struggled to commute to the city due to a glaring lack of infrastructure. But today, with the locality being one of the fastest developing areas, infrastructure has developed by leaps and bounds.
Key note:
Its strategic location along the Grand South Trunk road (GST) and the Trichy-Madurai-Kanyakumari highway makes Maraimalai Nagar a viable neighbourhood to settle in.
Maraimalai Nagar is 40 km away from Chennai city and around 10 to 12 km
away from Tambaram. It is also near the Outer Ring Road that connects Vandalur to Nemilichery. It now also boasts a railway station and frequent buses.
Schools, colleges, and hospitals
Several prestigious educational institutions have come up in Maraimalai Nagar as part of its rapid development.
SRM School of Management
Valliammai Engineering College
St Joseph’s Higher Secondary School
Hospitals like SRM Hospital and JS Hospital provide world-class facilities.
Other amenities
Easy access to water
Chennai has its share of water battles but the Marimalai Nagar municipality has ensured that its residents get purified RO water at all times.
In 2016, RO plants were set up all around the neighbourhood at a cost of Rs 10 crore along with 139 purification stations. Lakes all around were de-silted and cleaned and geared for rainwater harvesting. Garbage collection also occurs on a regular basis ensuring that the roads are clean.
Maraimalai Nagar’s impeccable roads, green surroundings, and enviable amenities can make it the perfect place to build your home.
This article is contributed by RoofandFloor , part of KSL Digital Ventures Pvt. Ltd., from The Hindu Group
