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.

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• 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

   

  

Do Apartments available for sale in Chennai Suburbs worth the Investment?

Most investors seek important destinations for investing their money. Real estate in Chennai is a significant medium for receiving large returns on investment especially when the choice of location is made with some diligence. In this case, apartments for sale in Medavakkam and Perumbakkam, Chennai are emerging as a hub for Real estate Investment. Chennai has been witnessing exceptional Real estate growth over the last two decades. While the Central Business District (CBD) has always been the primary center of attraction for both Commercial and Residential Real estate investment; there were other regions that gradually but firmly established their presence in the market. 

OMR and ECR were the forerunners of Real estate progress in Chennai. They were the first regions in the suburban market to observe massive focus from an otherwise conventional mindset of residents in Chennai. Today, these regions witness maximum prices that can be compared to the CBD of the city.

Gradually, as industries made their advent in Chennai; other locations like Sriperumbudur, Grand Southern Trunk(GST) Road, Medavakkam, Tambaram and Perumbakkam also rapidly followed suit in terms of Real estate development. Several Realty reports have identified Medavakkam and Perumbakkam to be the nest destinations of Real estate boom after OMR and ECR. There are substantial reasons that support this forecast.

1. Location advantage

Medavakkam and Perumbakkam are located close to each other and together they are located in close proximity to the important neighborhoods of Chennai namely Tambaram, Sholinganallur, GST Road and more importantly the IT/ITES corridor of Chennai, OMR and ECR. 

2. Connectivity

Connectivity is an important factor that drives decision making when it comes to seeking property either for purchase or rentals. When a location is well connected to other parts of the city through several mediums of transport and speed and convenience play big roles, those locations yield big return on investment. Apartments for sale in Medavakkam and Perumbakkam, Chennai qualify under this category.

3. Price

Real estate Investors across all sections of the society consider price as one of the important factors that drive a decision making process. Apartments for sale in Medavakkam and Perumbakkam, in Chennai are relatively more affordable than the properties in CBD or other parts of the city. However, they are expected to yield more returns and better capital appreciation in the years to come. Therefore investing in properties here is a wise investment choice.

4. Facilities                                                       

The modern man is a slave of lifestyle. He prefers to lead a life of high standards, live in large homes made of reputed builders and stay in places filled with urban amenities within the premises and in the surrounding areas. Therefore, besides location and price, amenities have changed the way people consider Real estate investment. Properties with swimming pool, tennis courts, fitness center, clubs have become fundamental options and amenities such as and preferably international schools, medical centers and retail centers further the value of the property. The elite and a significant part of the middle income groups prefer such properties today and this number is only increasing. Hence, such properties are great investment options today and  the future.

Chennai Lifestyle reflection on a mini public transport

- Sumangali Homes

Builders in OMR

          

Flats in Medavakkam pioneers Real Estate development in Chennai

Flats for sale in Medavakkam, Chennai have today emerged as worthy Real estate investments since the capital appreciation offered by them in the long run is expected to be exponentially high. Located in South Chennai, Medavakkam has been observed by Real estate Experts as a destination poised to transform the face of Real estate in Chennai, in the next five years. As a matter of fact, reports released by Realty consultant Knight Frank even brought Medavakkam under the list of 13 most happening regions of the country and this same list also features Ulwe, Wadala and Chembur from Mumbai. The kind or quantum of development has been marked dependent upon certain factors that include creation of jobs, infrastructural progress and changes in lifestyle.

There are specific reasons on why flats for sale in Medavakkam are expected to observe such exponential appreciation and these include

• Road infrastructure: People today expect wide roads for reasons that include better breathing space, efficient parking space and less traffic congestion. Medavakkam is favored with wide interior roads thereby making them the best destination for setting up Residential and Commercial properties in the city.

• Efficient connectivity: Medavakkam is one region that is well connected to different parts of the city that include OMR, Tambaram, Pallavaram and Velachery. Interestingly, these are also the areas that enjoy maximum Real estate progress and great infrastructural development with wide ranging amenities. People who work in any of these areas that account for maximum industrial growth can stay at Medavakkam, enjoy great returns and also minimize on travel time considerably.

• Well equipped with amenities: Real estate investors look for the presence of fundamental and desired amenities before investing in a place of their choice. While location and price are primary factors, amenities such as proximity to workplace, good schools, entertainment hubs and retail establishments also drive preferences towards Real estate growth in any city. Medavakkam in this case is well endowed with all of the above stated facilities and further amenities that drive Real estate choice.

Flats for sale in Medavakkam, Chennai therefore have a number of reasons why they are preferred by both Residential and Commercial Real estate investors. The higher the residential demand gets, the bigger is the impact it makes on other kinds of Real estate progress and other kinds of development a city can be defined by. 

A Model flat in Medavakkam, Chennai

source: 99 acres

- Sumangali Homes

Builders in Chennai

Why and Where you should Invest on Flats in Chennai?

Located just 2 km from OMR, flats for sale in Perumbakkam and Medavakkam, Chennai have gained attention and exponential capital appreciation in a very short span of time because of their proximity to the IT corridor. Tambaram and Sholinganallur are other important neighborhoods of Perumbakkam. A mammoth rise of 21 percent is expected in the price of properties this increase will get double fold in the next five years. There are reasons on Perumbakkam, witnessing high demand and supply for real estate and these include the following.

1. Close proximity to the IT and ITES corridor renders Perumbakkam its maximum share of benefits. This is because a large percentage of population working in the IT companies of OMR and ECR find it difficult to pay exorbitant rentals or property prices in OMR and ECR and instead prefer flats for sale in Perumbakkam and Medavakkam that are relatively more affordable and also do not compromise on travel convenience.

2. The Government policy of Premium FSI that came into act in 2010 permitted creation of larger buildings. The current demand from real estate investors is large homes and properties so that there is maintenance of high lifestyle standards and greater spaces for the entire family to live luxuriously. Also, bigger spaces allow for the creation of several amenities that smaller homes cannot even dream of.

3. Relative affordability is a concept that interests Real Estate investors of Chennai. While it is difficult to think of investing in Real estate in most metros owing to ridiculously high prices; some regions in Chennai and more importantly, Perumbakkam and Medavakkam are more relatively more affordable enabling even the middle income groups of the society to find their choice of property here. 

4. Excellent connectivity to every important destination of Chennai has enabled investors to favorably consider the Real estate growth prospects in these regions today. Unusually high travel time, inconveniences during travel and lack of public transport are not some of the problems that characterize Medavakkam and Perumbakkam.

5. Good roads are constructed in Perumbakkam and Medavakkam regions thereby gearing the area for exceptional infrastructural development. Progress in infrastructure is one of the primary drivers in determining a city’s growth and development metrics.

Flats for sale in Perumbakkam and Medavakkam thus have instant appeal, relative affordability, bigger homes and exceptional connectivity making them instant hit amongst Real Estate investors.

The IT Highway, OMR

- Sumangali Homes

Builders in OMR

Apartments in Medavakkam, Chennai enhance Lifestyle standards of Real estate Investors

Not too long ago, properties in the Central Business District(CBD) of the city were the only ones in focus but as the CBD became characterized by lack of space and exorbitant prices, builders and investors alike shifted focus to suburban regions. However, as supply and demand started playing their consistently expanding hands in the city, even the suburbs started observing high prices. So, areas like Medavakkam and Perumbakkam assumed never-before-seen changes in the past decade. Apartments and the builders in Medavakkam witnessed landmark changes both in terms of supply and demand.

With steep increase in demand, land pockets started declining and construction rates grew higher. Naturally, property prices also witnessed appreciating prices. The real estate market in Medavakkam is expected to grow faster in the subsequent few years due to rapidly rising social infrastructure facilities. Schools, shopping facilities, amenities, road development, entertainment hubs and connectivity make the regions susceptible to overall growth and development. As a matter of fact, realty reports have shown that the prices in Medavakkam are expected to increase by at least 103 percent by the year 2017. Apartments in Medavakkam are increasing by leaps and bounds because of the plethora of amenities and infrastructural development the region takes pride in.

Abundance of amenities at Medavakkam

The region has a plethora of premium educational institutions namely PSBB Millennium School, Hiranandani Upscale School, Kendriya Vidyalaya, St. Pauls Matriculation School, BVM Global and Padman Matriculation School are some of the renowned schools in the region. Similarly, Prince Sri Venkateshwara Padamavathi Engineering College and Asan Memorial College of Arts and Science are two of the popular colleges at Medavakkam. The area is also home to some of the city’s state-of-the-art and well equipped modern hospitals including Karunya Hospital, Global Health City, Kamakshi Memorial Hospital and Ainthiram Siddha Hospital.

Face value of the builders in Medavakkam and the apartments in Medavakkam are further enhanced by exceptional infrastructural development such as the Chennai Mass Rapid Transit System(MRTS), Grand Southern Trunk(GST) road connectivity and other road development projects. The much awaited monorail project is also an important factor that influences a major part of the real estate progress the city has been witnessing in the last few years. And added to all the infrastructural development Chennai has been making, the Chennai Metropolitan Development Authority(CMDA) project to create outer ring road helps to bring down traffic congestion especially between Medavakkam and Sholinganallur.

Medavakkam Highlights obsessed with Educational Institutions

Source: 99 acres

- Sumangali Homes

Builders in Medavakkam

Connectivity facilitates Decision making of Real Estate Properties in Medavakkam and OMR, Chennai

Many builders in Medavakkam and OMR, in Chennai, have proactively judged the real estate demand these regions are expected to generate and constructed milestone real estate projects. Many other builders have reacted to the scenario and continued the saga of construction so as to facilitate the increasing demand for commercial and residential projects. A few decades ago, OMR and Medavakkam had vast stretches of land with little development in terms of real estate. Today, the landscape has completely transformed to accommodate large and modern apartments, villas, farmhouses and commercial properties.

There are many properties built in Medavakkam and OMR are tastefully designed and meticulously constructed using the best of resources and exceptionally qualified and trained staff. These apartments and homes stand the test of time since they are durable, well maintained and constructed using quality resources. They are also Eco-friendly homes with large breathing spaces in the right location thereby offering capital appreciation in the long run. Perumbakkam near Medavakkam is another region that is quickly garnering a lot of attention and is poised to observe real estate boom.

Proximity to important Neighborhoods 

Medavakkam is located near Sholinganallur, Selaiyur, Madipakkam, Keelkattalai, Tambaram and Velachery. This rapidly developing region is also situated near the city’s IT/ITES corridor and SEZ. OMR is no stranger to this concept as well. Of the two, OMR was the first to develop in terms of real estate development. And today, the prices here are almost close to the rates seen in the Central Business District. Medavakkam may not be as exorbitantly priced as the properties in OMR or ECR. They are a lot more affordable now but are expected to increase in prices in a few years from now. Owing to the proximity to important neighborhoods, both OMR and Medavakkam have no dearth of best-in-class hospitals, international schools, important colleges, entertainment hubs and places of worship.

Builders in OMR and Medavakkam, Chennai have constructed high quality homes closer to significant destinations. The main modes of commuting include bus, vans and autos. MTC(Metropolitan Transport Corporation) bus service is commendable at Medavakkam.  Buses plying between Velachery and Tambaram pass through Medavakkam junction. Residential projects are usually built to analyze the current and future needs of customers to design homes that possess a long term perspective.

Interview with a Real Estate pundit on OMR & Medavakkam

- Sumangali Homes

Builders in Chennai

Soaring Popularity of Apartments at Medavakkam

Apartments in Medavakkam are making quick progress. Every arterial road of Chennai has been contributing to the real estate development the city has been making in the last decade or two. As OMR and ECR occupy their share of progress in the city’s realty; Medavakkam is not too far behind. A report published by realty consultant Knight Frank has shown

"Medavakkam that is a part of South India will do better than most other residential hubs of Chennai in the next five years"

Medavakkam belongs to the 13 most happening places in India, a coveted list that also names the significant areas of Mumbai.

8 out of 13 search Images represent the Residential properties in Medavakkam for the keyword

"Medavakkam Chennai"

          
So, why is Medavakkam emerging as a significant Real Estate destination?

• Medavakkam is an emerging location and hence relatively nominally priced when compared to most other regions of Chennai. 

• Existing infrastructure in Medavakkam like roads is strong but the city here is gearing up for the future projects as well. Further, the region is close to other vital areas like OMR, Velachery, Tambaram and Pallavaram. 

• Proximity to hubs of importance such as IT parks, hospitals, schools, recreation centers and commercial establishments.

Investors who have invested or about to invest in Residential properties of Medavakkam have taken a wise decision of doing so. While the city’s Central Business District is inevitably and indispensably the highest in terms of offering return on investment, Medavakkam investors can observe exponential capital appreciation in the long run since the quantum of progress the region is making is tremendous. As infrastructure develops and commercialization gets in at full swing, residential realty is proving its mettle as well.

An Excited woman on Buying an Apartment in Medavakkam

- SUMANGALI HOMES

Builders in Medavakkam