Real Estate

Thinking about investing in Maraimalai Nagar?

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

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | May 30, 2020 3:30:01 PM | https://www.thehindu.com/real-estate/thinking-about-investing-in-maraimalai-nagar/article19896269.ece

Next Story