Why Medavakkam has been a preferred choice for Real Estate Builders and Buyers?

The builders in Chennai have turned their focus on specific locations for the construction of residential apartments and villas. This is reckoned as a significant move in realty especially when the demand for residential Real estate in Chennai city is location specific. And although there is staggered demand, the overall prospect of Chennai emerging as a prime destination for Real estate investment is huge and burgeoning. So, if you are considering to invest on Real estate in Chennai, then you should look at the hot spots in the city and analyze before arriving at a decision. There are specific pockets of Chennai that are doing exceedingly well than many others. Medavakkam, one such kind of a location in Chennai has emerged as an aspiring choice of realty suburbs in the city as several Real estate experts vouch for its growing potential in the years to come. The demand of apartments in Medavakkam stands as the clear evidence.

Reasons that makes Medavakkam an ideal choice

• The quantum of development Medavakkam has made in the last 5 years has been absolutely dramatic and unbelievable. The area once observed very little commercial and residential growth but today it is witnessing some exceptional construction activities. The construction design of moderate budget apartments in Medavakkam  too seems to grab the attention of luxury lovers.  Also, the growth of commercial enterprises, recreation and infrastructure is also one of the best here.

• Several Real estate reports by prominent experts including the global Real estate consultant Knight Frank has shown that the number of builders in Chennai is predominantly making better inroads into Medavakkam. The reports put the locality in the sixth position in the list of biggest destination choices for Real estate investment in the country.

EXPERT VOICE

• Medavakkam enjoys a favorable location, close to Chennai’s best and flourishing neighborhoods including Velachery, OMR, Tambaram, Madipakkam, Perumbakkam and Kilkattalai. Located close to the important road junctions of the city, Medavakkam is easily accessible and is in the heart of both large scale commercial and residential development.

• Medavakkam is also closer to the industrial hubs of Chennai and hence employment prospect around this part of the town is tremendously higher. OMR’s IT/ITES corridor and the technology firms in Tambaram and Sholinganallur are worth mentioning. People who work in these IT parks prefer to stay at close proximity and hence Medavakkam emerges as an ideal choice. The IT staff are sighted as one of the key reasons for the high demand of apartments in Medavakkam, neat construction, design and amenities too. 

• Residential units, particularly the apartments for sale in Medavakkam are also relatively more reasonably priced(affordable too) compared to OMR and ECR. Hence, pricing serves as a favorable trend that tilts housing demand from OMR to Medavakkam and also Perumbakkam.

• Physical and social infrastructure is rapidly developed at Medavakkam thereby making it a great destination for futuristic growth as well. Besides the nearby GST road, even the interior roads are wide and connectivity is at its supreme thus accelerating further scope of development here.

• Since the international airport is quite near to Medavakkam, the need Medavakkam to be maintained as an up-market locality is very high.

• The development of Outer Ring Road(ORR) is yet another milestone in the path of development prompting the builders in Chennai to shift interests towards Medavakkam. The proposed road infrastructure is expected to reduce traffic and congestion. 

All these developments indicate increase in Real estate prices that mean exponentially high returns in the long run.

- Sumangali Homes

Builders in Medavakkam