Medavakkam: An Upcoming Realty Hotspot Of Chennai

The real estate demand is always high in Chennai. More new places are getting exposure as the order is ongoing, and Medavakkam is such a place that attracts more real estate developers and investors day by day. To know about this upcoming realty hotspot in Chennai, you can go through this article.

Introduction

Any locality will drive the real estate market if the locality is the prime location and the employment hubs are in the vicinity of the area. Medavakkam is such a prominent location that it is emerging as one of the most developing localities. Medavakkam is situated in the southern part of Chennai. The Medavakkam locality comes under the Tambaram taluk of Chengalpattu district. Medavakkam is located near other major developing localities like Ponmar, Ottiyambakkam, and Sithalapakkam. All the administrative works of the Medavakkam locality are managed and controlled by Village Panchayat, which comes under the Sholinganallur MLA Constituency and South Chennai MP Constituency. Previously this place was not so reputed, but with the growth of nearby IT hubs in the OMR IT Corridor, the Medavakkam locality is getting more exposure. It is also situated near SEZ on Medavakkam Sholinganallur Road. 

A wide array of transportation services, like railways, bus services, etc., is available in this place. The whole locality is connected by Velachery Main Road, Perumbakkam Main Road, and Old Mahabalipuram Road. The nearest railway station is Tambaram railway station which serves the city with trains to local places as well as places in different cities. The distance between Tambaram Railway station and Medavakkam is 10 km. The Chennai International Airport is 13 km away from the locality, and it is accessible via buses and cabs. Also, there is an upcoming development of metro Corridor 3 (Madhavaram-Sholinganallur) under Phase 2 of Chennai Metro. After the metro connectivity, the transport service will be enhanced more, and it will make the locality more demanding in terms of connectivity with other places.

Apart from all of these factors, there are some more points that make a locality a promising one in terms of realty hotspots. So, let’s talk about what issues play an essential role in this scenario.

What factors matter when it comes to being the upcoming reality hotspot?

A locality can be an upcoming realty hotspot for any real estate development only if there are various forthcoming developments or previously built infrastructures. This can be schools, colleges, nearby hospitals, roadways, railway stations, nearby commercial projects, etc. 

Here are those factors that matter for being the upcoming reality hotspot.

• Commute time 

Commute time is one of the most crucial factors for a locality. It is mandatory that the locality is well connected with other parts of the city or state. It will help people to reach their upcoming destinations easily. If the commute time is lower, people will get attracted to the place. The more the demand, the higher the chance of being the best realty destination.

• A good lifestyle in residential projects 

If there is a chance of being a residential realty hotspot, it is mandatory to have a lavish lifestyle around the place. If the locality is appropriate for living with family without any problem, then residential projects can be developed soon and easily. 

• Local amenities

Local amenities are essential, whatever the type of real estate property is. Basic local amenities include a seamless electric supply, continuous water supply, sound transport system, etc. Whether there is a chance of residential, commercial, or industrial property development options, these local amenities are must-haves. Otherwise, the locality can not be a good choice.

• Resale value

The resale value of the property or the land in a locality is also essential. It decides the importance of the locality in terms of the price growth of the property. 

• Educational institutions 

In the case of residential property opportunities, there should be schools, colleges, etc., that can be a good choice for families, especially those who have children. They can quickly get educational assistance within the locality. 

• Healthcare facilities 

Another critical factor is healthcare. It can be a residential area or a commercial, but the demand for healthcare units is always higher. If the localities are well connected with various hospitals or medical institutions, it can be a good option for being a realty hotspot because there will be 24*7 medical assistance in any emergency.

• Future prospects 

The demand of any locality or region depends on various upcoming projects or developments. It can be real estate projects, highways, railway connectivity, metro connection, etc. When there is a wide array of future prospects, the locality will grow as one of the biggest realty hotspots.

• Price of land and property

Prices of land in a location can raise or reduce the demand for a place. Whenever you look for a new property, no matter whether it is residential, industrial, or commercial, you will undoubtedly look for the rate. Sometimes it is probable that you have a budget, but the locality is too expensive. In that case, the locality can be out of budget. If a locality delivers a reasonable allocation for a significant part of the general inhabitants, it is likely that the locality will be one of the most prominent real estate hotspots. Investors also like this place to sponsor more properties.

• Purpose 

The purpose of the location is also a vital attribute that you have to think about beforehand. If your objective is depicted correctly, you can assume a place as the promising one. The same goes for a whole region. If the locality has a particular purpose like industrial development or residential demand, the locality can quickly develop in a better way. The meaning depends on various factors like types of locality, price, talent pool, etc. Elements for purposes can be changed for residential or industrial areas.

• Legal cases

When it comes to all real estate properties, it is always a compulsory element to match all kinds of lawful factors. It is very much necessary to correspond to all types of legal actions so that you never fall for any real estate fraud. So, when you are ready to shift your home or your business to a new real estate region, always make sure to check the location to see whether there is any legal conflict or not. Also, you can check the legal standing of the place with the help of an authorized lawyer too. If there are no such disputes, you can consider the location as one of the most promising real estate localities.

• Security in the locality

When you are in a real estate locality hunt, it is always important to find a safe place whether you are looking for a residential property or an industrial property. You can check the security reputation by looking into the community. It is true that a locality with a good safety standing and lower crime rates can be pricey, but you can always be safe with your family or with your business. So, a favorable real estate locality should provide this thing.

Facilities and essential factors present in Medavakkam as an upcoming realty hotspot of Chennai

• Medavakkam is a well-connected place that is connected through key roads like Velachery Main Road, Perumbakkam Main Road, and Old Mahabalipuram Road. Also, the nearest railway station is Tambaram railway station which is situated 10 km away from the center of the locality. The Chennai International Airport is also only 13 km away, and it can be accessed through local transportation services like buses, cabs, autorickshaws, etc. 
• Medavakkam is an excellent educational hub that includes a lot of decent schools and colleges nearby. Some of those critical schools and colleges are FIITJEE Global School Chennai, St. John’s Public School, Narayana E Techno School Medavakkam, Vista Billabong High International School, Sujay Public School, Vels Global School, Bharathi Vidyalaya Senior Secondary School, Velammal New Gen School, AKG Public School, Sairam Leo Muthu Public School, Vidhya Matric Higher Secondary School, Sri Chaitanya Techno School, St. Paul’s Matriculation School, Christ The King Matriculation Higher Secondary School, Zigma Matriculation Higher Secondary School, Government Middle School, Govt. Higher Secondary School, Motherland Montessori School, New Prince Shri Bhavani Arts and Science College, New Prince Shri Bhavani College of Engineering, Md. Sathak College of Arts and Science, Asan Memorial Institute of Hotel Management, SUEB Development Community College, etc.
• In Medavakkam, there are lots of prominent hospitals and medical research centers where various medical assistance can be availed whenever required. Some of the best medical centers are Annai Theresa Hospitals Pvt Ltd, Karunya Hospital, Medavakkam Medical Mission Hospital, V Cure Hospital, Medavakkam Government upgraded primary health care center, Sri Balaji Hospital, Radial Ortho Clinic, Anto Speciality Clinic, Karthick Children’s Hospital, Mugavari Eye Hospital & Research Institute, Siddha specialty center, RKP Multi-Speciality Hospital, NewGen Speciality Clinics, Jyothi Siddha and Ayurveda Hospital, Green Land Clinic, Gleneagles Global Health City, etc. So it is easier to receive any medical emergency. 
• Medavakkam is a developing area that already houses a lot of buildings, multistorey apartments, villas, etc. It is also a promising residential locality because there are lots of IT hubs nearby. All of these IT hubs are situated along Old Mahabalipuram Road (OMR) corridor. Kovilambakkam, Pallikaranai, Perumbakkam and Sholinganallur. SEZ is one of the most reputed employment regions located at Sholinganallur. You can access the SEZ area within 15 to 20 minutes of the Medavakkam area. Significant companies like HCL, Wipro, Tech Mahindra, Cognizant, etc., have offices in the Elcot SEZ. Other nearby job centers near Medavakkam are RMZ Millenia (11 km), SP Infocity (11 km), International Tech Park (13 km), Olympia Technology Park (15 km), etc. 
• Major residential projects in Medavakkam are Indiabulls Greens, Ozone Greens, Navins Springfield, Whitefield Mudra, Casagrand Riviera, etc. 

Bottom line

As you can see that a lot of features and infrastructures are there in Medavakkam, and some of the significant infrastructures of real estate developments are coming soon, the location is quite promising. It can rise rapidly either as a residential area or as a commercial area. Real estate investors are trying to invest in more land and properties. People from nearby IT hubs are finding some accommodation in this area. So the demand is constantly growing. It can be said with the belief that Medavakkam is going to be the most critical and significant realty hotspot in Chennai.

Frequently Asked Questions(FAQs)

1. What are the significant hospitals near the Medavakkam region?

Lots of hospitals and medical care centers are present in the Medavakkam region. Some of those are Annai Theresa Hospitals Pvt Ltd, Karunya Hospital, Medavakkam Medical Mission Hospital, V Cure Hospital, Medavakkam Government upgraded primary health care center, Sri Balaji Hospital, Radial Ortho Clinic, Anto Speciality Clinic, Karthick Children’s Hospital, Mugavari Eye Hospital & Research Institute, Siddha specialty center, RKP Multi-Speciality Hospital, NewGen Speciality Clinics, Jyothi Siddha and Ayurveda Hospital, Green Land Clinic, Gleneagles Global Health City, etc. 

2. Mention some significant schools in the Medavakkam area.

The whole Medavakkam area is surrounded by lots of significant schools where parents can send their children to get quality education. Some of these schools are FIITJEE Global School Chennai, St. John’s Public School, Narayana E Techno School Medavakkam, Vista Billabong High International School, Sujay Public School, Vels Global School, Bharathi Vidyalaya Senior Secondary School, Velammal New Gen School, AKG Public School, Sairam Leo Muthu Public School, Vidhya Matric Higher Secondary School, Sri Chaitanya Techno School, St. Paul’s Matriculation School, Christ The King Matriculation Higher Secondary School, Zigma Matriculation Higher Secondary School, Government Middle School, Govt. Higher Secondary School, Mothers Land Montessori School, etc. 

3. Can I avail of local transport service quickly in the Medavakkam area?

Yes, Medavakkam is well connected with various significant places like IT offices, schools, colleges, hospitals, other parts of the city, etc. Local buses, autorickshaws, cabs, etc., are available, and you can easily enjoy the benefits here.

4. What are the neighborhood areas of Medavakkam?

Medavakkam is a southern suburb of Chennai which is near Sholinganallur, Madipakkam, Selaiyur, Keelkattalai, Velachery, and Tambaram. All of these places are pretty famous for being major IT hubs or realty hotspots.