Residential
5 Reasons to Invest in Medavakkam
November 27, 2023
This locality in Chennai has responded to the pulse of the country-wide progress, becoming a highly-coveted neighbourhood in the real estate map of South India.
Located on the Sholinganallur Road, South of Chennai, Medavakkam experienced growth in phases. It captured the attention of industrial enterprises and soon became a bustling hub of commercial activities. As more companies opened their shops, it piqued the demand for luxury apartments, charting Medavakkam’s transformation as a real estate hotspot.
In this blog, we will highlight the top reasons why you should invest in apartments in Medavakkam.
Infrastructure Development and Connectivity
One of the key drivers fueling the growth of the real estate market in Medavakkam is the substantial development of infrastructure in the region. The efforts put forth by the Tamil Nadu government to enhance road networks, public transportation and essential amenities have transformed the locality into an appealing destination for buying residential properties in Chennai.
The construction of new flyovers, ongoing road expansion projects and the proposed extension of the metro line to Medavakkam significantly improved its accessibility.
The nearby Tambaram Railway Station and Velachery Railway Station are easily reachable, and Nehru Park Metro Station is located within a 13-minute walking distance, further enhancing the area's overall accessibility.
The Grand Southern Trunk (GST) Road to the southwest of Medavakkam and the Velachery Road to the north, Velachery Road offers convenient access to the core of the city. In the southern direction, the Old Mahabalipuram Road (OMR) further enhances connectivity.
Additionally, shorter route buses are readily available, offering efficient transportation options to neighbouring areas, including Keelkattalai, Adambakkam and Brindavan Nagar from this locale. Such enhanced connectivity will continue to fuel the demand for apartments near Medavakkam.
Multicultural Environment and Lifestyle Amenities
Medavakkam is a multicultural community, drawing residents from various parts of the city. It boasts a diverse population that is evident in the array of places of worship, including temples, mosques and churches. During festivals like Navratri, the area amply reflects the spirit of religious fervour in a grand way.
The neighbourhood boasts an assortment of shopping malls, movie theatres, dining establishments and green spaces. Furthermore, the presence of top-notch educational institutions like Vels Institute of Technology and St. Thomas Matriculation School and healthcare facilities, including Dr Kamakshi Memorial Hospital and Hindu Mission Hospital, adds significant value to the lives of people in Medavakkam.
Investment Potential
As Chennai's urban footprint expands, suburbs are expected to undergo further urbanisation. It will drive up the demand for flats for sale in Medavakkam.
The presence of IT parks and Special Economic Zones (SEZs) in the vicinity will attract professionals, ensuring a consistent demand for housing in the region. As Chennai's urbanisation trajectory persists, Medavakkam will witness sustained growth, becoming an exceptionally appealing investment destination.
The upcoming special economic zone along Medavakkam Sholinganallur Road further underscores the locality’s potential for growth. Its diverse residential areas, abundant green spaces and many social amenities make it the epitome of contemporary living. As a result, Medavakkam's real estate market maintains its allure, successfully drawing both homebuyers and investors alike.
Proximity to IT Hubs
Nestled between the IT corridors of Sholinganallur and Velachery, it enjoys proximity to major IT parks, including OMR (Old Mahabalipuram Road) and the SIPCOT IT Park in Sholinganallur. This convenient location minimises commute times for IT professionals and provides easy access to prominent IT companies. This is one of the key perks of investing in Chennai.
Medavakkam is also close to the prestigious Elcot Special Economic Zone (SEZ) in Sholinganallur, which stands as one of the nearest employment hubs. Situated merely five km away, it can be conveniently reached within approximately 15-20 minutes via Perumbakkam Main Road. This esteemed SEZ houses a multitude of major IT/ITeS corporations, including industry giants like HCL, Wipro, Tech Mahindra, Cognizant and more.
Luxurious Residential Options
Prominent builders have cashed in on the development prospects of the area, making no delay in establishing a series of premium residential apartments near Medavakkam. The housing complexes are characterised by ample rooms to breathe and enjoy the comforts of a well-designed home.
These properties have multiple bedrooms, expansive living areas and well-appointed kitchens, making them ideal for families. Modern architectural designs and interior finishes reflect the latest trends in upscale living.
The hallmark of luxurious living in Medavakkam is the availability of world-class amenities within these residential complexes. Residents can enjoy amenities such as swimming pools, fitness centres, landscaped gardens, clubhouses and recreational areas. These facilities cater to the diverse interests of residents, offering opportunities for relaxation, physical fitness and community building.
Conclusion
The evolving landscape of Medavakkam, from its accessibility to essential amenities, educational institutions and thriving commercial zones to its upscale residential options, indicates a robust and balanced environment that appeals to homebuyers. Furthermore, the planned infrastructure projects and the proximity to established IT hubs reinforce its desirability for prospective real estate investment in Chennai.
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