Medavakkam, a rural place in Tambaram is filled with necessary amenities that match to the urban location in Chennai like Mogappair and Perambur. In 2012, knight frank, India’s leading real estate consultants, released a report stating that Medavakkam would see close to 90% of property price appreciation by the year 2017 due to its location advantage, connecting facilities, closeness to the IT hubs and amenities it has. As predicted, the property value in Medavakkam has reached to 5020 ₹ per sq. ft in 2017 which was just around 2500₹ per sq. ft in 2012; this is an enormous growth than any other residential properties in Chennai.
Even though there are a lot of location advantages and connectivity advantages associated with Medavakkam, one of the major reasons for the increase in residential projects in the Medavakkam would be, because of its ever-growing amenities. The following are the list of necessary and sophisticated amenities that are contributing to the residential real-estate growth in Medavakkam today.
#1. EDUCATIONAL INSTITUTIONS
Medavakkam is surrounded by many matriculations as well as CBSE schools. Some of the reputed schools in and around Medavakkam are Christ the king matriculation higher secondary school (1.4KM from Medavakkam), Velammal New Gen CBSE school (2.5KM from Medavakkam), Vista Billabong High International School (2.2KM from Medavakkam) and Narayana e-techno CBSE School (2.2KM from Medavakkam). All the above-mentioned schools are just less than 10 minutes’ drive from Medavakkam. The proximity to many CBSE schools has made suburb Medavakkam a preferred location for housing than the other suburbs.
#2. TRANSPORT FACILITIES
Medavakkam has easy access to three prime roads of Chennai such as the Perumbakkam main road, Grand southern trunk road (GST) and Velachery main road. Travelling by these roads you can get easy access to all the busy locations of Chennai such as Guindy, Tambaram, Porur, and Velachery in less than an hour. In addition to this, Medavakkam has a frequent public transport service (Government bus) throughout the day by which you can travel all around Chennai & especially the locations like Chennai international airport, Central railway station, Egmore railway station, and CMBT bus terminal.
#3. IT CORRIDOR
Special Economic Zone (SEZ) in Sholinganallur is located at a distance of just 6 KM from the Medavakkam bus stop. SEZ incorporates multinational companies like WIPRO, HCL, CTS, and Sutherland. With a land space spread over 377.08 acres, SEZ provides employment opportunities for more than a lakh of people, and it is also considered as one of the largest IT hubs of Chennai. The total investment made by ELCOT in this SEZ is around 195.35 crores Rs. to this date. As the IT sector contributes a lump sum amount to state income, the Tamil Nadu government has plans to extend the SEZ land area. As a result of this, we can expect the entry of a few more Indian companies in the SEZ in a short time. This is also one of the reasons why IT employees from Chennai (buying) and other states (rental) are looking for residential projects in Medavakkam.
#4. VARIOUS AMENITIES
The most commonly found restaurants in Chennai such as Anjappar and Sangeetha are available in Medavakkam as well. In addition to this many European, Italian, and Chinese restaurants are found in and around Medavakkam. A few of those restaurants are La Festa, Haven Sampoorna, 72’s Pasta and Tacos, The Pasta Land, The Cascade, Gourmands Delight among others. All the above-mentioned restaurants are destined at a distance of less than half an hour drive from Medavakkam.
Hospitals are found abundant in and around Medavakkam location due to the increase in the number of residents in Sholinganallur, Karapakkam, Perumbakkam, and Medavakkam location. Right from ortho hospitals to multi-speciality hospitals, you can find all types of hospitals in this location, which is quite similar to an urban location. A few of the hospitals found inside the Medavakkam territory are Radial ortho-speciality hospital, Arun hospital, Annai Teresa hospital, Suraj hospital, Radiant dental care, Shri Balaji dental speciality clinic, Adhiran multi-speciality hospital, Mathious ENT clinic, and Swastika hospital. Apart from the above-mentioned hospitals, the Gleneagles Global Health City, one of the biggest hospitals in Chennai is located at a distance of just 4km from Medavakkam which can accommodate more than 1000 patients. It is one of the very few hospitals in Chennai which does heart transplantation.
There are several parks, playgrounds, indoor gaming centres and stadiums in and around Medavakkam. Many malls, theatres, amusement parks, parlours, gyms and hangout spots are located within a 15 km radius of Medavakkam.
The real-estate price in Chennai is increasing every year both in the Urban and suburban parts of Chennai. People who are wealthy enough prefer buying a residential apartments in Chennai urban places (less than 20% of the population). But, nearly 80% of people prefer buying a residential apartment in a suburb because of the affordable price level in those locations. From the above data, it would be clear that when you choose residential projects in Medavakkam as your location to buy a dream home, you can expect to fulfill the desire of not only buying your dream home but also buying it in the right spot.