Madhavaram Rising

Twenty years ago, Madhavaram was a tranquil locality known for its mangroves and farmland where a 2,400 sqft plot cost 18,000. But the Chennai metro has changed the landscape; greenery is giving way to high rises. "The neighbourhood has changed dramatically. In 1987, I bought my plot for a fraction of what it's worth today. That same 2,400 sqft plot now costs 2 crore," says D. Neelakannan, president of the Federation of Madhavaram Resident Welfare Associations. "As Chennai expanded, more people moved here to escape the city's hustle and bustle," he adds.Longtime residents say Madhavaram used to known for the sale of arrack but things started changing from around 2005 as more and more people moved in. A micro market report on Madhavaram by Anarock Property Consultants says that between 2016 and the first half of 2024, nearly 2,200 residential units were launched in the area, making up 22% of the overall supply in North Chennai during this period.Today, Madhavaram offers a mix of residential, commercial, recreational, and entertainment spaces, all just a few km from Anna Nagar. "The locality was merged with Greater Chennai Corporation in 2011 and chief minister J Jayalalithaa sanctioned 650 crore to improve the infrastructure. This attracted homebuyers, and now the area is being compared to Anna Nagar," says Madhavaram V. Moorthy, minister for dairy development in 2011.Much of the greenery has been replaced by concrete structures, and demand for housing is only growing given the connectivity the Chennai metro provides to central areas such as Perambur, Anna Nagar, and Vyasarpadi. Corridor 3 (Madhavaram to SIPCOT) set to be completed by 2026 and Corridor 5 (Madhavaram to Sholinganallur) by 2028. Sanjay Chugh, city head and director, Anarock Property Consultants Pvt Ltd, says the metro encourages real estate developers to launch new projects. "This can lead to a more vibrant community with diverse living options. Young professionals and families seeking convenience may choose to rent property in Madhavaram, resulting in higher returns for property owners," he says.N. Kothandan, secretary of the Federation of Madhavaram Resident Welfare Associations, highlighted the shift from standalone apartments to gated communities in the area. However, he says, several issues need to be addressed for the locality to reach its full potential."There is still no piped drinking water supply in wards 29 and 30, and no underground sewage system. Traffic congestion is acute with container lorries parked between Manali and Madhavaram. The roads between Vadaperumbakkam and the Madhavaram roundabout are in poor condition, and the Thanikachalam Nagar stormwater drain remains incomplete," says Neelakannan. "Still, land prices were affordable compared to the rest of the city," he adds.MSID:: 114087617 413 |
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