Marakkanam, Tamil Nadu Property Guide
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Marakkanam's Real Estate Overview
Location and Access
Marakkanam, a district in Viluppuram, Tamil Nadu, India, lies close to the East Coast Road (ECR), connecting Chennai and Pondicherry. This setting makes it ideal for living or for investment. It’s easily accessible due to its proximity to major cities and the ECR.
Property Types and Prices
Residential Properties
- Houses and Villas: You'll find them in different sizes from 450 sqft to 2000 sqft. Villas rent out at around ₹7,000 per month, while some range from ₹30 lakhs for purchase.
- Apartments: These are not as common. Prices vary with size and amenities, averaging around ₹2,169 per sqft.
Plots and Land
- Residential Plots: Plot sizes range from 600 sqft up to 8000 sqft. Initially, you can get a 1350 sqft plot for ₹2.3 lakhs, while bigger plots reach up to ₹76 lakhs.
- Farm Land: 2-acre plots or more are available, often suited for farms or agri-projects, with prices around ₹1.20 crores.
Amenities and Infrastructure
- Approved Projects: Many residential areas and plots have DTCR and RERA approvals, ensuring legal standards.
- Amenities: Features often include gated communities, clubhouses, swimming pools, games, ATV tracks, and private beach access.
- Utilities: Standard conveniences like electricity, water connections, street lights, and CCTVs are usually provided.
- Facilities Proximity: You’ll find schools, colleges, hospitals, IT industries, temples, pharmacies, supermarkets, banks, ATMs, and malls nearby.
Investment Potential
- Price Trends: Over the past year, Marakkanam's property prices dropped by 16.69%. This fall might create a more appealing market for buyers. Nevertheless, its strategic importance makes this a good market for selling too.
- Long-term Investment: It’s recommended for long-term investments, especially for vacation homes, due to its scenic backwater, and beachfront locations.
Rental Market
- Rental Costs: Renting here starts from ₹1,000 per month but can vary based on area, size, and inclusions. Typical rentals for 1-2 BHK houses and villas range between ₹7,000 to ₹10,500 per month.
- Rental Varieties: Options include houses, villas, apartments, and builder floors to fit different family sizes and preferences.
PropertyWala's Analysis
Marakkanam offers a compelling real estate chance, particularly for residential property or plot investments. With its prime location on the ECR, diverse property types, and amenities, it’s a strong option. While property rates have dropped, the area’s growth and long-term potential suggest it’s a smart investment. For renters, varied options and competitive prices make Marakkanam a good spot for different budgets and lifestyles.