Madipakkam

 

Madipakkam is a growing suburb situated in the Southern Chennai. This region has been recently added to the limits of Chennai Corporation. It possesses many schools, colleges, shopping places, hospitals, restaurants, banks, and recreational venues.

 

Madipakkam has a close access to the IT companies in Old Mahabalipuram Road (OMR) which attract a huge realty demand. The place is apt both for residential and commercial purposes and is the center of many international companies and amenities. This region is also fairly close to Chennai International Airport and St Thomas Mount Railway Station.

 

Apart from the proximity to various multi-national companies and good connectivity, this region is much sought-after for the various hospitals and educational institutions. The region is witnessing a major growth recently since various renowned developers showing interest for residential projects. 

 

The locality has well-maintained drainage system. Middle class and lower class community are most commonly found in this micro market but this trend is likely to change in future. With important connecting roads, international food chains and clothing brands and increasing residential areas, Madipakkam is turning to be a hotspot for real estate.

 

Key Projects in Madipakkam : 

TTE Kavyam

 

Connectivity and Transit Points

 

Connectivity is a key factor for the growth of Madipakkam. This region is along State Highways which connects the locality to Tambaram. There are frequent buses that travel to various regions around Madipakkam like St Thomas Mount Railway Station, Velachery Railway Station, OMR and Thoraipakkam. Buses are the most preferred mode of transport in this region. 

 

Since auto rickshaws are costly for daily transportation, people prefer share-autos, a vehicle which carries numerous passengers at the same time and charge significantly less than the conventional auto rickshaws.

 

Though it has two railway stations nearby, Velachery MRTS Station is the nearest among the two. Chennai International Airport is just 6 km away from Madipakkam. Numerous call taxi companies operate their cabs in this region to various other parts of the city. The important roads in and around Madipakkam are Inner Ring Road, OMR, Medavakkam High Road and Madipakkam Main Road.

 

Major Landmarks

 

•          Badhala Vigneshwaran Temple
•          Ponniamman Koil
•          Ayyappan Temple
•          The 6^th Sense Hospital
•          Vasan Eye Care Hospital
•          St Thomas Matriculation Higher Secondary School
•          Kings Matriculation Higher Secondary School

 

Factors for Growth in the Past

 

One of the major factors for the growth of Madipakkam is its proximity to Velachery and various IT companies in Old Mahabalipuram Road. The growth of this region can also be attributed to the numerous educational institutions and hospitals located here.

 

The locality also has various commercial centres and recreational venues which was the reason of the increased residential growth of this region.

 

People working in IT sectors can majorly be found here and people from various parts of the country live in this region. This has accounted to the diversity and ultimately the growth of the region.

 

Residential & Commercial Market

 

Residential Market Trends

 

Madipakkam has a growing residential market. Due to various important factors discussed above, this place is one of the most sought after residential location in South Chennai. The residential property trends have seen ups and downs in the past but it has a great potential for future growth. The dominant property type of this area is apartments with individual houses taking the next place. In the Jan-Mar quarter of 2014, the residential properties for sale in Madipakkam have seen an appreciation with an average price range of Rs 4815 per sq. ft.

 

Commercial Market Trends

 

Madipakkam is a good blend of both commercial and residential place. The commercial market in this locality is flourishing with various brands and markets having their branches here. The average commercial property rates in this region are in the range of Rs 5000 to 8000 per sq. ft. 

 

Major Challenges

 

Traffic congestion is a major problem in Madipakkam. With various offices in and around the locality, traffic is highly concentrated especially in the morning and evening times. This also creates a problem in parking vehicles.

 

The lack of a well-facilitated government hospital is another major drawback of this place. Certain areas in Madipakkam don’t have good access to the main roads and interior areas in this region have water logging problems.

 

Factors for Growth in the Future

 

Real estate will be one of the major growth factors of Madipakkam in the future. The area houses various residential and commercial plots for sale and investors are keen on this locality. Various well-known builders like Srivari Constructions, Afraah Building Constructions, and Bhuvaneshwari Constructions are active in this region. Many multi-storey apartments are being built here and the residential and commercial potential is expanding.

 

The diversity of the crowd in the region, mainly due to the presence of IT companies, also can give birth to a variety of infrastructure developments. The proposed Metro railway line can also bring growth to Madipakkam, making it one of the preferred locations not just for staying but also for investing.