Rising locality for perfect abodes – Medavakkam

One of the hottest hubs for residential properties in Chennai is Medavakkam. This is due to the closeness of localities like Sholinganallur, Madipakkam, Velachery , Tambaram etc. Further, the area is under South Chennai Constituency which has endless IT corridors. Its consistent accessibility, transportation has made home buyers swarm like bees to this locality.

The apartments in Medavakkam, are quiet reasonable and within budgets than other localities in the city. The properties here have state-of-art amenities and ambiance which reflects a piece of heaven of earth. Some of the moving areas for apartments in Medavakkam are Babu Nagar, Vimala Nagar, VGP pushpa nagar, Aishwarya Garden, Soumya Nagar, BHEL Nagar, Royal Garden, RG Nagar, Iyyapa Nagar and so on. Apart from this some of the neighbourhoods of Medavakkam are Chrompet, Pallavaram, and St. Thomas Mount etc. Moreover, Medavakkam has soar to 6th largest place in reality out of 13 ideal residential spaces in the whole country as per a study taken in 2012 -2017.

Besides, the locality is best known for its ace and serenity. Adequate and fresh water, 24 hrs power supply and sanitation are the other adding advantage in these residences. The emerging metro is a major advantage for people living in that area. Further it is CDMA approved. Developers have started to excite investors and buyers with varied offers such as holiday packages, discounts on loans, no EMI’s and so on.

There are 1, 2, 3 and 4 BHK apartments at reliable cost. It comes in a minimum of 561 Sq.ft at Rs. 27 lakhs for 1 BHK and 750 sq. ft at Rs. 27 lakhs for 2 BHK apartments and 3 BHK flats at 1242 Sq.ft for Rs. 56 Lakhs. Apart from buying you can avail apartments in Medavakkam for rent within preferred prices.  The minimum price for rentals can be availed from Rs. 14,000 – Rs.21, 000 for 3 BHK with 1269 Sq.ft – 1418 Sq.ft, and 2 BHK from Rs.8000 – Rs. 20,000 with 700 Sq.ft – 1200 Sq.ft.

Apart from this, prominent schools such as Bharathi Vidyalaya Senior Secondary School, BS Matriculation School, Ravindra Bharathi Global School, Velammal New Gen School etc are there and for foodies out there, there are a chain of sumptuous restaurants such as AGS Restaurant, Anjappar , Cascade, Dindigul Thalappakatti, Grand Sweets and Snacks, Gupta Bhavan, Hotel Sri Raj Bhavan, Namma Veedu Vasantha Bhavan and so on. When it comes to healthcare, there many prominent hospitals like Vcure, Global hospitals, KP hospital, Annai Teresa etc. are present.

Other than this you can avail all top banks and atm’s 24/7, cineplexes, malls, etc are available to spend your leisure time and for shopaholics all branded retail stores, and other showrooms etc are just minutes away from the locality.

With these facilities and environment, Medavakkam stands tall amidst other locales when it comes to real estate. It has become a driving factor for people who look to invest in the south of Chennai. This has helped it growing and you can witness more ventures that are yet to come.

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Medavakkam- Hot hub of Chennai

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.

Marathahalli the next investment hotspot

The locality of Marathahalli got its name when the fighter plane Marut crashed into this area. Back then, it used to be a small village in the outskirts of Bengaluru. When the IT industry in Bengaluru exploded, Marathahalli was transformed overnight into a self-sufficient region. Interestingly, the locality is a residential, commercial as well as an industrial hotspot of Bengaluru. Bangalore has seen much of the evolution over the past two decades and with growing number of IT companies and commercial establishments the population in Marathahalli locality is also gradually increasing. As population increases the infrastructural needs also should be increased to meet the demand of the people. Excellent connectivity, good schools and colleges, hospitals in proximity, stores and other utility based shops are some of the social and civic utilities that an area demands to deem itself as a developed locality with possible investment growth. Marathahalli is no less in providing all of this. Marathahalli is well connected to the IT hubs of Whitefield and Electronics City and upcoming residential markets such as the Outer Ring Road and Sarjapur Road. Residential project-wise, the real estate market in Marathahalli is booming. Because of its proximity to the IT hubs like ITPL, Sarjapur-ORR and Whitefield, many IT professionals working in these places choose the locality of Marathahalli to rent or buy.

The locality is about 45 km away from the airport, and there are regular buses throughout the day from the Marathahalli bridge bus stop that travel all the way up to the airport. The closest railway station is the K.R. Puram Railway Station which is about 14 km away from here. The other preferred mode of public transport around the locality are cabs and autorickshaws. Marathahalli has seen rapid development in real estate over the past two decades but infrastructure growth has not kept pace with this. The main factor behind the development of this once sleepy village is the growth of IT hubs around Marathahalli. Professionals working in ITPL, Whitefield, and Sarjapur-ORR prefer to live here, thereby resulting in residential growth in the locality. This can be due to various reasons.

Looking at the diverse market at Marathahalli many builders are offering a varied platter of developments topic from. When a prospective home-buyer is looking to invest in houses in Marathahalli, this area seems very lucrative for its size and cost-effective option. People preferred Marathahalli over Whitefield because prices here are almost 10 per cent lower than the latter. Another advantage of the realty market in Marathahalli is its proximity to the Outer Ring Road. The Outer Ring Road connects different parts of the city instantly and it is an added advantage to be living close to it, as it brings down the commuting time considerably. In the initial days many developers came up with Villas in Marathahalli to promote the area and these are a huge hit amongst locals. Infrastructure in Marathahalli has seen rapid development in the last decade and this is sure to help with the further growth of this locality.

Kanakpura Road fueling the real estate growth of Bangalore

Kanakapura is the hottest investment destinations in Bengaluru today, with the Kanakapura Road real estate market growing, due to its seamless connectivity to the major business zones in the city. Kanakapura is a town located 55 km away from Bangalore. The Kanakapura road is a part of the NH 209 which connects Kanakapura to Bangalore. Kanakapura Road has become active on the real estate especially in the residential sector, thanks to infrastructure developments such as the establishment of NICE (Bangalore-Mysore Infrastructure Corridor) Road which has enhanced connectivity to Electronics City, Bannerghatta Road and Mysore Road. Bangalore Metro Phase 1 till Puttenahalli. There are various reasons for the demand of this area. One of the chief reasons is the advancement of Bangalore attracts people from all over the country to settle in the city. But the city is almost saturated and property rates have also sky-rocketed. So people are slowly moving to the sub

urbs in search of homes. Kanakapura road is hence becoming a one of the most sought after localities. It is also famous for its green reserve, being situated in amidst forest.

The development of the airport opened doors for offices and mixed-use developments along NH-7, connecting Yelahanka and the airport. Availability of large land parcels for big projects and good rail and road connectivity with the core of Bengaluru were also driving the investment sentiments in Yelahanka. Kanakapura road is a key arterial road that starts in Basavangudi and runs through posh localities in south.  Infrastructure in the region is also among the best in the City due to the elevated expressway, monorail, excellent connectivity to prime locations. Another major factor that transformed Kanakapura into one of the sought-after areas in the city is the Bangalore-Mysore Infrastructure corridor project that envisages a 106 Km six lane super highway. The connectivity to different places through NICE ring road and extension of metro has made the area as a real estate hot-spot. The road has transit points that give you several options of connectivity to different locations.

While thinking to invest, one can consider plots and sites, flats, villas in Kanakapura Road, commercial buildings, commercial sites and lands in and around Kanakapura Road for investment purposes. As far as the property appreciation is concerned, the real estate investments will fetch good returns in short time in Kanakapura Road. Increase in demand for properties in Kanakapura Road with directly proportional increase in number of dwelling units has also paved way for a great rental market yielding an average of Rs 15,000 for a reg

ular 2 BHK apartment. The present rates are pretty competitive and there are housing options for every budget. The proposed developments in the area, are bound to ensure good appreciation, while social infrastructure is also rapidly being developed. These points more than evidently prove that Kanakapura Road is a perfect destination to invest and park their funds, these not only will yield good returns, but will also make a wise investment choice.

Investing at Kukatpally

Kukatpally is an ideal, well-rounded neighborhood of Hyderabad. Kukatpally is situated on the north-western part of the city of Hyderabad, in the Ranga Reddy district. The locality of Hafeezpet lies to the west, and Kothaguda, Hitech City and Madhapur to the south of Kukatpally. It is famous for having one of the best developed residential colonies in Andhra Pradesh – the Kukatpally Housing Board (KPHB) Colony. Another special thing about Kukatpally is that it is the commercial hub of the city.  Kukatpally is also known to be an educational hub, with plenty of good schools and educational institutes, which is why many families choose this locality for their home. One of the major advantages that the residents enjoy is that they can easily access shops and malls in this locality. Apart from creating an immense number of job opportunities, this has also meant a boost for the real estate industry, especially in Kukatpally. One of the major factors that has turned Kukatpally into the destination of choice for many home buyers is its proximity to Hitec City and Financial District, Gachibowli. Both the IT hubs are located within 10km from Kukatpally. The shorter commute to work is one of the reasons that has attracted many professionals from the IT/ITeS industry to come invest in the area thus increasing the demand for premium properties in the area.

The Mumbai Highway runs almost through the centre of this locality, and connects it to places like Ameerpet, Banjara Hills, Moosapet and Miyapur. The locality does not have a railway station of its own. It is however quite close to the MMTS run stations of Hitech City, Borabanda and Bharatnagar. To catch express trains that travel to other parts of the country, the stations available are Secunderabad, Nampally and Begumpet. Kukatpally’s is located in Corridor 1 of Hyderabad Metro Rail, covering nearly 12-km Miyapur-SR Nagar stretch with stations in KPHB Colony, JNTU and Kukatpally which also has a significant impact on the connectivity of this region. The accompanying development in physical and social infrastructure in Kukatpally, because of the KPHB colony, led to an increase in demand for other residential projects around the colony. It first saw a spurt in home buyers after the development of the Kukatpally Housing Board colony, Asia’s largest housing board. Kukatpally has also thrived as a micro market. It has everything right from Rythu Bazar (farmer’s market) where you can buy farm fresh produces to major brand outlets.

This growing population of dynamic, highly educated and motivated professionals have attracted like-minded individuals who have contributed to the cosmopolitan community of Kukatpally thus pushing up the demand for premium housing and with that the real estate prices. As Hyderabad gears up to play host to growing list of companies, this demography is only set to grow and with it the property prices as well. Kukatpally is undergoing some major developmental changes. Funds of over Rs 1,500 crore have been allocated for the development of this locality as an even bigger residential hub. he demand for other apartments in Kukatpally around the colony also increased, because of the overall development in physical and social infrastructure in Kukatpally, because of the KPHB colony.

A look at some of Andhra’s top realty hubs

Andhra Pradesh is one of the leading states in the country in terms of job opportunities and providing a great quality of life. Here is a look at some of the cities in state and their real estate scenarios.

Tirupati

While most know Tirupati as the temple city that draws lakhs of pilgrims every years, not many would know that it is also a major educational hub with several universities and colleges including state government and Tirumala Tirupati Devasthanam sponsored medical, pharmacy, agricultural and engineering colleges in the city.

Tirupati’s road and rail connectivity coupled with its accessibility to Chennai, Bangalore and other nearby districts. It is being groomed as one of the commercial hubs of the state with an Information Technology Investment Region (ITIR) being planned in the city.

Real Estate Scenario

According to sources, with the government announcing an IIT, IISER (Indian Institute of Science Education and Research) and a Central University for Tirupati, real estate prices are expected to rise by 10 per cent over the next few months.

Visakhapatnam

Vishakapatnam, also known as Vizag has all the qualities to become the financial capital, IT hub, cinema center and tourism center of Andhra Pradesh.  Besides Hyderabad, it is the only city with two ports, an international airport as well as good railway connectivity. Over the past few years, Vizag has already established itself as a strong IT hub with the government planning an IT incubation center, and an ITIR spread over 12,000 acres. Besides this Vizag is also considered a hub for education with many state-run schools, private institutions, missionary schools and colleges.  Plans are further afoot to set up an IIM and an IIT in the city. With a well-developed retail and hospitality sector, Vizag is witnessing unprecedented growth. The city has a good cosmopolitan crowd, with a mix of all communities and hence is considered a good option by the migrant community as well.

Real Estate Scenario

Real estate prices in this port city have been zooming northward with prices increasing by 10 to 15% during the last couple of months. Properties are becoming popular here by the day.

Vijayawada

Known as the ‘commercial capital’ and also ‘political capital’ Vijayawada is also has great economic prospects and is famous for agro products processing, automobile body building, hardware, textile, consumer goods and small scale industries.

With good quality schools and colleges, Vijayawada is also an educational hub. The city is well-connected by railways and is the vital south-north link. It is the only city in residuary Andhra Pradesh state with rail, road, air and water links with the rest of the state and country. Trains connecting all metros in India pass through.

Real Estate Scenario

This with developed infrastructure and superior connectivity, Vijayawada has everything that a developed city needs. However the real estate sector in the city is reaching a saturation point with skyrocketing prices making buying properties here unaffordable for the common man. According to the Greater Vijayawada Builder’s Association, the quoted price of a square yard of land in in Vijayawada city limits used to be Rs. 15,000 to Rs. 18,000 has grown to a staggering Rs. 1 lakh.

How you can get out of a property deal

Buying a house is a dream that a lot of Indians have had for a long time. But it is not an easy dream to have. It can often turn into a nightmare. So one has to be very careful while going about undertaking this process. Go into it with eyes wide open. No point in regretting this decision later.

Buying a house is a decision that requires meticulous research and precaution as once you sign along the dotted line it is nearly impossible to reverse a sale. However, very often when we invest in a property, we get carried away by an over exaggerated sales pitch or fall victim to an overly aggressive salesperson or you simply get cold feet after paying the initial amount. So what do you do when you want to walk away from a closing?

We bring you a few tips how to cancel your booking after you have made a financial commitment to the builder.

Read all agreements and documents

If you have a sudden change of mind and want to cancel your booking, the first thing you need to do is to read the document, looking for loopholes that would assist you. Many developers have a cancellation clause where they offer a refund option if the project is delayed beyond a specified time. You can take advantage of this clause and cancel your booking whilst claiming a refund with a simple interest rate.

No agreement

If you have made an initial payment, but there is not agreement, then experts claim that the process of purchasing a property has not commenced. If you have paid the amount by cheque you can recover the amount from the builder by showing the developer a receipt of payment or allotment letter. If the builder refuses a refund, you can always go for help to the Indian consumer court or then file a civil case for recovery.

Cancellation fee

Many builders have a clause for a cancellation, wherein if the home buyer changes his mind about the property deal, then a predetermined fee will be levied on them. Paying this fee is also a simple way to get out of a home agreement if you have changed your mind.

However, buyers must know that if they have paid stamp duty, registration charges, service tax, and VAT, it will not be returned back to them in the case of cancellation of the deal. Once made, these payments are non-refundable.

So you have to be very careful before you fork over the money to the developer. Take this decision only when you are completely convinced that the property is what you want. There is no point in regretting once you give away by the money. Don’t get pressured into buying the property. It must be only your decision. Weigh the pros and cons and don’t hesitate to pull out if you think that this is not the right deal for you. Better safe than sorry.