Madurai Land Registration Procedure

If you are buying land in Madurai, be careful of any evil real estate agents and brokers and be aware of the procedures, before you register a land on your name and make a purchase of real estate.

This message is to be read carefully, because there are complaints regarding this.

Madurai Pazhanganatham (Palanganatham) Registrar official Annamalai explains to Dinamalar. Please read the procedure and how to be careful in madurai real estate registration.

By the way - this does not complain all the real estate agents. This posting is just for consumers to be aware of evil elements in Madurai, if any.

Global recession hits Madurai too

There is a record of decrease in land transactions for the past couple of months in the tamil nadu state itself. Looks like there is a loss of Rs.50 crores approximately lost in revenues for Government of Tamil Nadu on land transactions.

This is a bad sign to be noted. Hopefully it is temporary and everything would come back. There is a little apprehension in everyone's mind whether market would be down for sometime or will it be back to normal!

People are holding off in investing in any assets. Instead, it is safe to keep everything in cash - may be!

I will be talking to realty consultants in Madurai today. I will get back to you all with some expert views on this.

Allotment orders to the Top IT Companies - HCL, Satyam, Sutherland, Scope, Tessolve, Honeywell etc., in Madurai IT Park

Madurai IT Park was in PAPER and DOCUMENTs so far.

Now, it is becoming reality.

Tamil Nadu Chief Minister Kalaignar M Karunanidhi had allotted lands to the top IT companies from HCL, Sathyam, Sutherland, Scope, Tessolve and Honeywell in Madurai IT Park in Vadapalanji.

Madurai is on the IT revolution right now. Karunanidhi granted allotment orders for 160 acres in Madurai, Tirunelveli, Tiruchi and in Chennai, to top 8 companies that have come forward to set up shop in IT Parks being set up by the state owned Electronics corporation of Tamil Nadu (ELCOT).

The IT companies have surely realised that they stand to gain by moving to the IT SEZs in Tier II cities, like the ones in Madurai, Tirunelveli(Nanguneri SEZs) and Tiruchi. As the STPI benefits will last only till 2010, the IT SEZs are the preferred destinations as companies can enjoy benefits for 10 more years.

Reliable Source for Madurai Machan.

International Terminal in Madurai Airport Function: A Recap

The Tamil Nadu government had given administrative sanction to acquire 614.33 acres of land to expand the Madurai airport, Chief Minister M. Karunanidhi said, laying the foundation stone for a terminal building here on Saturday.

By March 2009, we would have the first international flight from this new terminal, he added. - Bureau Report

Chief minister M Karunanidhi on Saturday April 26th 2008 laid the foundation stone for a new integrated terminal building at the Madurai airport, a facility that would handle 500 passengers at a time.

Airport officials said the integrated terminal building would be ready by March 2009. Constructed at a cost of Rs 130 crore, it would have state-of-the-art facilities and amenities, including aerobridges, flight information display system and centralised air-conditioning.

The present terminal has the capacity to handle only 200 passengers.

Karunanidhi said all airports in the state would be pieces of architectural excellence and match world class airports.

Karunanidhi also laid the foundation stones for IT parks developed by Electronics Corporation of Tamil Nadu at Ilandaikulam and Vadapalanji in Madurai.

Great Madurai spreading wings!!! Dream come true for Madurai

Madurai, a tier-two city in southern Tamil Nadu, best known for its temple and jasmine flowers, is expanding on all sides, thanks to height restrictions on buildings within the city, growing wealth, increasing availability of facilities such as mini-bus services to suburbs, and anticipation of investments especially in the IT and BPO sectors.

On the residential side, good quality constructions range from Rs 1,000 a sq ft to Rs 2,000 a sq ft in up market areas, while residential rentals vary greatly based on location. Sahara City Homes is setting up a huge project in the suburbs. Local players such as Visvas Promoters and Sashwath Constructions have a good number of residential projects under development.

Organised retail is just beginning to get a toe hold in the city and the real estate valuations are largely built on the hope of IT majors setting shop in the city in the next few years.

The article was very impressive about Madurai. Please read the original in economictimes

Real Estate Status in Madurai, Chennai and India

Real Estate Status in Madurai, Chennai and India

Sponsored by Sun City - Real Estate Agent, Madurai

In most parts of Chennai, apartments in new complexes cost between Rs 70 lakh to Rs 1 crore. As for adjoining suburbs, prices are in the range of Rs 40 lakh to Rs 50 lakh.

For instance, ongoing projects on the Madurai Highway are priced at Rs 45 lakh and above.

Consider the economics. To buy a flat worth Rs 50 lakh, a salaried employee would have to pay Rs 7.5 lakh upfront and an equated monthly instalment (EMI) of Rs 50,000 to service the balance Rs 42.5 lakh home loan over the next 20 years. Going by bank eligibility norms, he or she would need a salary of Rs 1 lakh per month to obtain a loan to pay such a high EMI. Obviously, those with such high salaries are few in number and on the highest rung of the corporate ladder.

It is getting tougher and tougher to buy a property in India. Normal people cannot afford a property in Madurai, Chennai and India.

There is nothing we can do, while the economy and markets takes its own course.