Located in the Southern part of the Chennai city, Medavakkam is one of the emerging residential hubs in Chennai. It was once a sleepy suburb, but due to the rapidly evolving real estate segment, most suburbs are becoming new urban development areas. In recent years, the area has been witnessing a lot of infrastructural developments. The locality is surrounded by Sholinganallur, Madipakkam, Selaiyur, Keelkattalai, Velachery, and Tambaram. But what is the reason for this sudden boom for properties in this region?
Let’s look at the ten reasons why Medavakkam is becoming a popular choice for property investment.
#1. A colourful residential hub
Since Medavakkam is one of the upcoming residential areas, it has a culturally diverse neighbourhood. The residents are a mixture of diverse background and are well-balanced with the immigrant population. Most of the occupants are from other cities and are working in IT companies. The demographics in this region comprises the younger working class with a mix of senior citizens who will be a part of the growing community.
#2. Excellent connectivity to the rest of the city
Despite being nestled away from the city, it is easily accessible and well connected to different areas of the City. Three major roads run through the area. Velachery main road, Perumbakkam main road, and Grand Southern trunk road (GST) road. Medavakkam has a non-stop, round the clock, extensive bus service. The Tambaram bus stand, Guindy Bus stand, and the Chrompet bus stand are in close proximity as well. Nearest railway stations are at Tambaram and Guindy both of which are approximately 10 kilometres. Aside from that, a metro station is also on cards as the Chennai Metro rail project has included Medavakkam for its second phase of development. This upcoming project will connect St. Thomas Mount making transportation much easier for residents who travel everyday using public transportation.
#3. Impressive infrastructures captivate this region
The region is dotted with beautiful landscapes and upscale buildings. An eastern bypass road is being currently constructed to reduce the congestion on Velachery main road and GST road. Aside from that Medavakkam flyover is getting ready and it will be intersecting the Velachery main road and the Perumbakkam main road. This has resulted in the emergence of a number of residential projects in Medavakkam Chennai.
#4. Accessible to several amenities
Being an upcoming residential hub, this sector has tons of amenities to support the growing population. Supermarkets, entertainment multiplexes such as Phoenix market city, DLF mall, are all well connected and reachable. There are numerous healthcare facilities and hospitals situated here. Renowned hospitals such as Gleneagles Global Hospital, Dr. Kamakshi Memorial Hospital, and Siddha Cancer hospital are situated nearby.
#5. Surrounded by many reputed educational institutions
Highly convenient for youngsters as there are a lot of educational institutions in this particular area. Some of the well-recognized schools in this region include Modern Senior Secondary school, Abacus Montessori School. Apart from that Britto’s academy and Sivashakthi matriculation school which are situated little further but are still accessible.
#6. Nestled between the tech corridor
One of the reasons why this area is getting developed so fast is its nearness to the tech corridor. Many young IT professionals prefer to live close to their workplace. Due to its proximity to the tech corridor, many new flats in Medavakkam have popped up. Therefore, a lot of IT professionals find the location ideal to settle down. The residential properties here are well furnished and filled with amenities which will cater to the needs of the young families and singletons.
#7. Surrounded by nature
Despite the rise in the number of real estate projects, this particular location is still surrounded by greenery. Far away from the rush of the city, Medavakkam’s boundaries are engulfed with forests from Nanmangalam and the wetlands of Pallikaranai. Thus, the residents are blessed with a breath of fresh air and relief from the pollution of the city.
#8. Reasonable and fits within the budget
Most of the upcoming residential projects are quite reasonable and will fit within the budget of most of the individuals. Currently the rates per sq. feet ranges from Rs. 3,300 to Rs. 7,500, depending on the location and the reputation of the builder. There are a lot of flats for sale in Medavakkam which offer a lot of facilities for the price offered. The affordability factor coupled with good scope for rental and resale value are some of the few reasons why many young families prefer this particular region.
#9. An Abundance of groundwater
Water is one of the absolute necessities for any residential locality. In Chennai, several areas face acute water shortage. It becomes severe during the summer months when most of the lakes get dry. Depending on the corporation water is not an option as the prices double during the summer months. Fortunately, Medavakkam has a healthy amount of groundwater and a few lakes in the surrounding regions support the residential areas during water scarcity.
#10. A calm, secure & serene locality
Compared to other regions in Chennai, Medavakkam is relatively calm, with no or fewer instances of crime. Security is one of the parameters, home buyers check before purchasing any property. Being away from the hustle and bustle of the city, it is free from noise and sound pollution. Many apartments in Medavakkam have 24/7 security and the streets are patrolled by the police keeping the entire locality safe for families and residents.
An upcoming region, Medavakkam boasts a wide array of builders and upscale buildings. Since it comes under South Chennai which according to experts is one of the most preferred destinations for young families. The presence of IT/ITes companies in the vicinity has boosted this region. Considering the recent pricing trends and the huge potential investing in a property from Medavakkam will definitely prove to be an excellent investment for the future.