Medavakkam — the most happening real estate destination in Chennai
Located in southern suburbs of Chennai, Medavakkam is one of the emerging micro markets of the metropolis. With proximity to the industrial zones and IT parks, the region has been witnessing a heap of real estate developments in recent times. Some of the neighborhood areas of this locality include Tambaram, Maddipakkam, Selaiyur, Velachery, Ponmar, etc. Owing to increasing demand for residential properties in this region, many residential developers have come up with new residential projects in Medavakkam.
With an advantage of proximity to the IT corridor of Chennai, the demand for housing has been especially high among the working professionals who prefer to reside close to their work places. Thus, the residential developers have been engaged in developing residential projects that suit the demand of these young working professionals. Besides, affordability is yet another major factor that drives the real estate demand of this region. Especially, apartments in Medavakkam are the most preferred property type in this region.
Located strategically, Medavakkam is well connected to rest of the city via major roads such as Velachery Main Road, Perumbakkam Main Road and Grand Southern Trunk (GST) Road.
With major bus stands like Tambaram Bus Stand, Guindy Bus Stand and Chromepet Bus Stand located nearby, the locality gets frequent bus services.
Tamabaram Railway Station and Guindy Railway station are the nearest railway stations of this locality.
The second phase of the metro rail project will have a metro station at Medavakkam. Once this project becomes operational, the capital values are expected to increase further in future.
Nearby Employment Hubs
· The MPL Silicon Towers — 5 km
· The TEK Meadows and the TECCI Park — 6 km
· Bahwan Cybertek IT Park — 8 km
· ASV Suntech Park and the Prince Info City — 10 km
The locality’s sound social infrastructure is one of the key growth drivers of residential market here. Some of the renowned schools in Medavakkam include the Modern Senior Secondary School, Sivashakthi Matriculation School, Abacus Montessori School, etc. Also, there are several reputed hospitals here namely Global Hospital, Siddha Cancer Hospital, Dr Kamakshi Memorial Hospital, etc.
Upcoming Infrastructure Developments
· The development of Medavakkam flyover is in the pipeline. Once this project become operational, it will help to reduce traffic clogging here.
· To ease of the traffic congestion on GST Road and Velachery Main Road, an eastern bypass is being developed.
· Metro station to be developed in the second phase of Chennai Metro
With these upcoming infrastructure developments, investing now in Medavakam is certainly a good choice for property investment.