Property investment in Medavakkam

Medavakkam is an upcoming residential area in the suburbs of southern Chennai. Located in close proximity to busy areas like Sholinganallur, Velachery and Tambaram, this locality has become a residential hub for employees working in IT companies in the surrounding areas. Medavakkam, is expected to outscore all other residential hubs in the state in terms of real estate appreciation in the next five years. 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. The micro-market is at a distance of 14 km from ChennaiAirport and 25 km from the Chennai Central Railway Station. The NanmangalamReservedForest is only 3 km away. 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. Likewise, it has a number of reasonable housing choices with infrastructural support. Villas at Medavakkam are selling very fast and the price at this site is cheaper when compared to villas at central Chennai. Medavakkam lies in a strategically sound location with the Tambaram-Velachery Main Road passing right through. This road serves as a main route for commuters, connecting two of the most important places in Chennai. This road also extends to the ECR Link road, which enables easy access to the East Coast Road. The major mode of public transport in this area is through the Metropolitan Transport Corporation (MTC) buses. These buses are frequent and connect Medavakkam to all parts of the city and beyond. Trains are also frequently available, with the nearest stations being the Velachery MRTS station and Tambaram Railway Station. This region has experienced massive growth in the past few years, both in terms of population and economy. The large influx of professionals from all over the country due to the many IT parks around Medavakkam has increased the demand for real estate. This has also resulted in the public and private sectors turning towards the enhancement of infrastructure in this region.Wide roads and availability of sweet groundwater also add to the advantage. Since Medavakkam is primarily a residential area, there are a lot of gated communities present here. Investors that have been analyzing the realty market are of the opinion that it is the best time to invest in apartments in Medavakkam .The demand for affordable homes is predictable to possibly pick up, as the growth of the Chennai is more southwards.The place has mostly apartment properties with houses and villas gaining second and third preferences respectively. A number of builders and promoters are making use of this place to build luxury villas in Medavakkam . The construction of the ORR from Medavakkam to Karapakkam will provide easy access to the Rajiv Gandhi IT Expressway. This makes it very convenient for employees working in IT hubs in the surrounding areas. Hence, Medavakkam promises to be an ideal real estate investment spot in Chennai.