Real Estate Properties in Madurai

One of South India's great temple towns, Madurai is the administrative headquarters of the Madurai district in the South Indian state of Tamil Nadu. Due to its antiquity and great historical importance, Madurai is also referred to as the Athens of the East.

Madurai is a key industrial and educational hub in Tamil Nadu. The city is home to various textiles, automobile, chemical, rubber, and granite manufacturing industries. Having developed as a tier-II city for information technology (IT), quite a few software companies have started operations in Madurai.

Geographically, the city of Marudai lies on the flat and fertile plain of the river Vaigai, southeast of the Western Ghats. Clay loam is the main soil type in Madurai, while red loam and black cotton types are also prevalent in the outer regions of the city.

The strong industrial sector in Marudai attracts many people from across the country. The location of the city and the presence of a large number of schools, colleges, offices, and hospitals make Madurai a great place to live in. Therefore, there is a constant demand for housing and land in Marudai.

Stats And Facts

• The population of Madurai, as per the provisional reports of the 2011 census, is 10,16,885. The urban/metropolitan population, on the other hand, is 14,62,420.
• As per the census 2011 reports, Madurai has a near-ideal sex ratio of 997 per 1000 males. The city also boasts of an impressive child sex ratio of 956 per 1000 boys.
• The same reports indicate a remarkable average literacy rate in the city, at 91.42%.
• The city of Madurai is known by many names, including Koodal, Naanmadakoodal, Malligai Maanagar, and Thirualavai.
• The region has rich black soil, which is the primary cause for the flourishing agriculture scene in the region.
• Madurai is one of the few rubber-growing areas in South India with many rubber-based industries being based in the city.
• One of the ancient cities of India, Madurai ranks top among historical places in Tamil Nadu.
• The city is constructed in the shape of a lotus and hence, it is often called the Lotus City. It is also called as the Temple City due to the large number of temples located in the region.

Agriculture, Textiles, And Tourism

• Although Madurai is chiefly an agrarian society, the textile and tourism industries have been contributing significantly to the local economy.
• Madurai has a thriving flower industry. Jasmine is a case in point. It is exported to Middle East where they are mostly used in perfumes.
• Software services have also been growing rapidly in this region. Reputed companies like Honeywell Technologies, HCL, Satyam, Oracle, and many others are located here.
• The government of Tamil Nadu has proposed two IT-Special Economic Zones (SEZs) in the city of Madurai.

Connectivity

• By air, Madurai connects to major Indian cities like Bengaluru, Mumbai, New Delhi, and Kolkata, and international destinations like Sri Lanka and Dubai. Air India, SpiceJet, and Jet Airways are the carriers that operate from Madurai. The Madurai Airport is located just 12 km from the city.
• Four National Highways, namely NH-7, NH-45B, NH-208, and NH-49, pass through the city. The state highways passing through the city are SH-33, SH-72, SH-72A, SH-73, and SH-73A. Through the national and state highways, Madurai is connected across India.
• Madurai has excellent rail connectivity. It holds the distinction of being the second largest revenue division in Southern Railway after the Chennai division. A number of super fast trains from Madurai connect to most major cities in India like Bengaluru, Mumbai, New Delhi, Chennai, Hyderabad, Coimbatore, Vijayawada, Calcutta, Nagpur, and Bhopal.

Madurai Civic Administration

• Headquarters of the Madurai district, the city of Madurai is a municipal corporation.
• The city has four administrative zones, with each zone featuring 25 wards. The zones are North, South, East, and West.
• Elected directly, a councilor represents a ward. Councilors from each zone elect the Deputy Mayor.
• The city’s voters directly elect the Mayor.
• The corporation is responsible for the provision and upkeep of basic services like roads, water, and sewage.
• A corporation commissioner heads the executive wing of the corporation.
• There are 27 Police stations in the city, with a commissioner heading the Police force.

Madurai Infrastructure

Madurai has an exceptional transport infrastructure, especially because of the presence of a large industrial base. The economy being primarily industrial in nature, the real estate infrastructure has also remained strong and resilient.

Education and healthcare services in Madurai are also quite impressive. The district is also home to a whole array of schools, colleges, and universities. The same can be said about the massive network of hospitals in this region. The city has seen tremendous growth in the hospitality industry in the recent years. Madurai is also a major center for medical tourism.

Infrastructure Projects

Madurai Real Estate Market

• The Madurai real estate market has witnessed a gradual yet steady development in the recent past.
• Thanks to the entry of IT majors, the city is witnessing frantic activity in commercial real estate.
• The demand for residential properties in Madurai is mainly inclined towards independent houses. However, the emergence of apartments has also picked up because of an active investor base and migrant population who are exploring flats.
• Currently, there are almost 30 active developers functioning in this market with several infrastructure development proposals.

Key Localities In Madurai

Charges By Different Government Bodies

Property Registration

Stamp Duty: 7% on the market value of the property

Registration Fee: 1% of the property

Tamil Nadu Electricity Board Ltd. (TNEB)

The Tamil Nadu Electricity Board Ltd. is responsible for power generation, distribution, and transmission in the state of Tamil Nadu, including in Madurai. Three separate bodies have been created within TNEB to undertake each of these functions.

Electricity Tariff

Industry: Rs. 5.50/unit

Tamil Nadu Water Supply And Drainage Board

The Tamil Nadu Water Supply and Drainage Board is responsible for providing water supply and sewerage facilities to the state of Tamil Nadu (except the Chennai Metropolitan Area).

Water Tariff

• For Rural Local Bodies: Rs. 3.00/kL
• For Urban Local Bodies: Rs. 4.50/kL
• For Industries/Commercial Organizations who have paid proportionate cost of CWSS: Rs. 15.00/kL

For industries or commercial organizations who have not paid proportionate cost of CWSS:

• Industries/ Commercial Organizations: Rs. 60.00/kL
• Hospitals: Rs. 50.00/kL
• Educational Institutions: Rs. 30.00/kL
• Orphanages: Rs. 10.00/kL