The recent floods in Chennai have bought some promising news for Madurai real estate. Many companies are looking to shift their base from Chennai to a safer location and real estate in Madurai could be the alternate place where companies could set up their offices. A lot of IT companies are now looking for new place to set up their base. During the floods some offices had put up temporary offices in the city. Now many companies are looking at real estate in Madurai in positive light.
This is bought movement not only in the commercial but also in the residential Madurai real estate. Suddenly the demand for real estate in Madurai like apartments in Madakkulam has risen and investors too are rushing in to invest in properties of the city like flats in Madakkulam. If IT companies do relocate here properties of the city like apartments in Madakkulam will see a huge appreciation of prices. Also the rental earned by flats in Madakkulam will also increase.
If offices do relocate the whole face of real estate in Madurai will change. Madurai real estate will see a lot of investor activity and the number of transaction will see a huge rise. However development will also play a major role for Madurai real estate. Till now slow pace of development was one of the prime reasons why companies did not want to invest in Madurai real estate. But things have changed now but still the government needs to proactively work towards developmental and infrastructural projects. The city could shine but proper infrastructure and facilities need to be provided to new companies willing to invest in the city. There are various areas like flats in Madakkulam where one can invest in. One should do a proper research and then look to invest in most promising areas.
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