Medavakkam is adjacent to the suburbs of Sholinganallur, Selaiyur, Madipakkam, Keelkattalai, Velachery and Tambaram. What works in favour of Medavakkam is that it is strategically located between the Old Mahabalipuram road (OMR) or IT corridor and Grand Southern Trunk Road (GST Road) with easy connectivity to Velachery and Pallikaranai. Medavakkam is a perfect centroid of major hot-spots like Velachery, St. Thomas Mount and Tambaram. Added to this, the location of Medvakkam is so strategic that it’s far from the bustle of the city, and it’s close to major amenities, and importantly, the OMR that’s the hub of major IT companies. Upsides of the area include wide interior roads, good connectivity to Old Mahabalipuram Road, Velachery, Pallavaram and Tambaram. It is in close proximity to multiple residential areas, IT parks, schools, entertainment facilities as well as commercial establishments. With a list of upside that every home seeker looks checked off, Medavakkam for obvious reasons has become the most sought after locality. This micromarket a decade ago started off as a small investment home zone and now with more and more IT companies coming into the market the real estate market seems no dusk here.
The demand for affordable homes is predictable to possibly pick up, as the growth of the Chennai is more southwards. Investors who are looking at capital investment can choose to invest in residential apartment in Medavakkam. There are quite a lot of projects with very attractive valuation within a reasonable budget. Like wise the villa projects that were introduced around this locality has also become a huge hit in this market. Considering a number of reasons, many people still prefer to buy plots or lands and still build their own homes in this micromarket. any ways to invest in the areas has been noticed in the residential sectors, mainly apartments and villas. Medavakkam supports realty drivers like availability of high end office spaces, access to social infrastructure and planned developments. Moreover, with the scheme for a future metro rail strip, the area seems to have a real stimulate in real estate development.
Investing in a land or plot in Medavakkam works well within budget and serves as a dream destination for its proximity to work place, schools and other important everyday commute places. A ride around this locality is sure to prove how infrastructurally well developed this area is and how much further the development looks to be. Investment in a property in the CBD, the Central Business district of Chennai is almost impossible, keeping in mind the property rates. Over the past two years capital values in Medavakkam have moved up by 15-20 per cent. Though the returns seem to appear bigger, the ROI percentage in Medavakkam and other suburban markets is likely to be higher that the ROI percentage of CBD. Hence, Medavakkam promises to be an ideal real estate investment spot in Chennai. Investing in a land at Medavakkam now can positively make a huge impact on the benefitial future.