Medavakkam Suburb Is Becoming The New Urban Development Sector In Chennai
Medavakkam is one of the emerging real estate hub for investment in Chennai. Due to steady growth of real estate sector Medavakkam suburb is becoming the new urban development sector. There has been a lot of growth in infrastructural development in the recent years. Medavakkam is surrounded by popular residential areas by Madipakkam, Selaiyur, Keelkattalai, Velachery, Tambaram, Sholinganallur and Pallilaranai.
Medavakkam is situated on the Sholinganallur Road where Elcot SEZ IT Park is located adjoining Old Mahabalipuram Road (OMR) at the Sholinganallur Junction.
Medavakkam is well connected to different areas followed by MTC bus service of Chennai. Perumbakkam main road, Velachery main road and Grand Southern trunk road (GST) road are the three major roads that run through this area. Tambaram bus stand, Chrompet bus stand and Guindy Bus stand are close to Medavakkam. Tambaram and Guindy is the nearest railway station for Medavakkam public which 10 km away from it. Chennai International Airport is just 12 km away from Medavakkam. Chennai Metro Rail is been in progress of work which is included in Medavakkam for the second phase.
Eastern Bypass road is current in progress of work to reduce congestion problem on GST road and Velachery main road. Medavakkam flyover is also in work of progress which will be joining with Perumbakkam main road and Velachery main road. Medavakkam has a healthy amount of groundwater and a few lakes in the surrounding the area to support the residential sectors during water scarcity.
Medavakkam is the upcoming residential hub with well-established social infrastructure with supermarkets, schools, colleges, multiplexes, hospitals such as Dr. Kamakshi Memorial Hospital, Gleneagles Global Hospital, and Siddha Cancer hospital are located nearby it.
IT Hubs near Medavakkam is growing steadily and IT professional prefer to live in Medavakkam which is close to their workplace. Lot of IT professionals find Medavakkam location as preferable.
Thus with all these Medavakkam has resulted in the growth of residential projects in Medavakkam, Chennai. The residential projects in Medavakkam are reasonable and affordable.The rates here ranges from Rs 3,000 to Rs 8,000 per sq ft depending on the area and builder. Lot of flats offer facilities and amenities in Medavakkam for the prices they offer. 1 BHK flat can cost Rs 1540 lakh, 2 BHK flat can cost Rs 23-65 lakh and 3 BHK flat can cost upto Rs 40-100 lakh.
Considering the factors there is a huge potential of investing in a real estate from Medavakkam.
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