Overview
Medavakkam is one of the developed residential locality situated in the south of Chennai. It comes under the jurisdiction of Chennai Municipal Corporation. Medavakkam was named the sixth biggest investment destination among the list of top places in India. The reason is that this place lies just at a short distance away from many of the city's important centers. It is surrounded by key localities such as Velachery, Pallikaranai, OMR and GST Road, Sholinganallur, Madipakkam, Selaiyur, Keelkattalai, Kovilambakkam, Pallikaranai, Perumbakkam, Hasthinapuram, and Tambaram and it is the central place to the developing suburbs like Ponmar, Ottiyambakkam, and Sithalapakkam. Social and physical infrastructure has been established in the region. Medavakkam has the benefit of wider internal roads and provides connectivity to all major regions of Chennai. Most of the real estate investors choose to invest in residential sectors which in and around IT corridors. Flats for sale in Medavakkam, near the Old Mahabalipuram Road has received the highest appreciation in recent times due to its affordability factors. It is a profitable destination mostly preferred by the mid-income groups. Buying a property in Medavakkam can be a smart investment decision that will bring in high profits in the long run. This locality has excellent connectivity to employment hubs, key city centers, and the Chennai Airport. Chennai has situated about 25 km from Medavakkam via Anna Salai Road and Chennai-Trichy Highway. Some of the key residential projects in Medavakkam are Some of the key residential projects in Medavakkam are MGP Good Luck Villas, Plaza Elite Acres, Urban Tree Oxygen, Ozone Greens Phase 2, Navin's Starwood Towers 2.0 among others.
Connectivity
There are five major roads which run through the area, i.e., the Velachery-Tambaram Main Road, Medavakkam Main Road, Velachery Main Road, Perumbakkam Main Road, and Mambakkam - Medavakkam Main Road.
It enjoys excellent connectivity to Chennai International Airport which is about 13.8 km via Pallavaram-Thuraipakkam Road.
Tambaram, Tambaram Sanatorium, Chromepet, Pallavaram are the nearest railway stations to Medavakkam. However, Tambaram is the nearest railway station situated at a distance of 9.5 km via Velachery-Tambaram Main Road.
Factors for past growth
Due to the emergence of many national and international companies becoming operational in the ELCOT SEZ and the IT corridor, the demand for rental residential properties in this region is also high. As a result, there has been a surge in the demand for apartments for rent in Medavakkam, being one of the noted suburbs of Chennai.
The social infrastructure of this region is sufficient, with many business class hotels, international schools, multispeciality hospitals, and diverse job opportunities have opened the door for residential demand and development.
Factors for future growth
With its proximity to key residential areas, planned & developed infrastructure, availability of premium office spaces and land, and access to social infrastructure, Medavakkam is set to witness significant price appreciation.
With the proposal for a monorail and the upcoming metro rail corridor, the region is likely to have a boost in real estate growth.
Proposed & Planned infra
A metro railway station is also on the cards with the Chennai Metro Rail Phase-2 including Medavakkam in its second phase of development.
The under-construction Medavakkam Flyover at the intersection of the Velachery Main Road and Perumbakkam Main Road.
Employment hubs near Medavakkam
Infra development (Social & Physical)
Medavakkam offers very good social infrastructure for its residents. Some of the reputed schools in Medavakkam include Kidzee Play School, Bharathi Vidyalaya Senior Secondary School, BS Matriculation School, Nethaji Vidyalayam, Ravindra Bharathi Global School, Velammal New Gen school (CBSE), St Johns Medavakkam among others.
Healthcare facilities are also good in the locality. Some of the leading hospitals in Medavakkam include Arun Hospital, Annai Theresa Hospitals Pvt Ltd, New Life Hospital, Gleneagles Global Health City, V Cure Hospital, The Institute of Neurosciences & Spinal Disorders etc.
The shopping needs of the residents are catered by malls in Medavakkam such as Sathish Towers, Shopping Singapore, SKV Complex, Esai Tower, Velavan Shopping Mall, Shanmuga Shopping Centre to name a few.
