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Flats Under 3 Crore for sale in Medavakkam, Chennai
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About Properties In Medavakkam, Chennai for Sale
Overview of Medavakkam
- Medavakkam is an emerging locality situated in the Southern Zone of Chennai.
- It is a well-developed locality that comes under the Changalpattu district of Tamil Nadu.
- Medavakkam has emerged as a thriving residential hotspot due to employment centres being nearby.
- It is a residential cum commercial locality in Chennai, Tamil Nadu.
- The locality offers housing properties in a mid-segment to premium price range.
- Medavakkam falls under the jurisdiction of the Chennai Municipal Corporation. As a result, there have been numerous developments in this area over the last few years.
- The locality is placed parallel to the Old Mahabalipuram Road (OMR), which hosts major employment hubs.
- Medavakkam is surrounded by localities such as Vengavasal, Madambakkam, Sembakkam, Santhosapuram, Vellakkal, Sai Ganesh Nagar, Veerasamy Nagar, and Kovilambakkam.
- The PIN Code of Medavakkam is 600100.
Medavakkam Residential Market Insights
- The average property price in Medavakkam ranges from ₹6,500 to ₹10,000 per sq. ft.
- The average price of a 1 BHK in Medavakkam ranges from ₹30 lakh to ₹65 lakh.
- The average price of a 2 BHK in Medavakkam ranges from ₹46 lakh to ₹80 lakh.
- The average price of a 3 BHK in Medavakkam ranges from ₹75 lakh to ₹2 crore or more.
- The monthly rental price in Medavakkam ranges from ₹15,000 to ₹40,000 or more.
- The average price of land parcels in Medavakkam ranges from ₹62 lakh to ₹ 2 crore.
- Medavakkam mainly offers affordable to mid-segment residential properties.
- Premium apartments, villas, independent floor apartments, and plots are also available here.
- Prices of properties may vary based on certain factors such as apartment configuration, exact carpet area, location, scenic advantages, etc.
- A number of reputed builders and developers have a presence in Medavakkam.
Connectivity and Transport In Medavakkam
- The OTA-Nanganallur Road Metro Station along the Blue metro line and the St. Thomas Mount Metro Station along the Green metro line are the nearest metro connectivity options.
- The Velachery Railway Station is around 15 minutes away.
- Other railway stations reachable from here include Tambaram Railway Station and Tiruvanmiyur Railway Station at a distance of about 20-40 minutes.
- Medavakkam enjoys an excellent road network.
- The prominent highway of Velachery - Tambaram Main Road passes through the locality, connecting it to prominent areas in the city.
- Medavakkam is advantageously located parallel to the major highway and IT Hub, Old Mahabalipuram Road.
- Along with that, it enjoys smooth connectivity through arterial roads such as Perumbakkam Main Road, Medavakkam Main Road, Vaddakkupattu Main Road and many more.
- The Chennai International Airport is located 13 km from Medavakkam.
- There are multiple bus terminals throughout the locality that allow convenient public transport within the city.
Social Infrastructure In Medavakkam
- Medavakkam has ample infrastructure facilities to fulfil the needs and luxuries of its residents.
- Health centres such as Annai Theresa Hospital, Arun Hospital, Dr Kamakshi Multispeciality Clinic, New Gen Multispeciality Clinic, Karunya Clinic, and Kalpana Hospital are nearby.
- There are several educational institutions in the area that provide quality education. Christ The King Matriculation Higher Secondary School, Saint Joseph Matriculation Higher Secondary School, Vidhya Matric Higher Secondary School, etc., are some of them.
- BSR Mall, Phoenix Market City, and Viviana malls are luxury shopping complexes near the locality.
- The locality is also equipped with other essential amenities such as petrol pumps, hotel stays, supermarkets, grocery stores, local markets, medical stores, banks, ATMs, etc.
Employment Opportunities In Medavakkam
- Medavakkam is parallel to the OMR, which hosts many multinational companies and IT Parks.
- The prominent commercial hub, Sholinganallur, is within reach of the locality.
- Elcot SEZ is nearby, which hosts numerous corporate companies such as Tech Mahindra, Wipro, Cognizant, HCL, etc. This special economic zone is around 15 minutes via Perubakkam Main Road.
- Prime commercial localities such as Tambaram, Sholingannallur, Taramani and Guindy are also within an accessible distance from the locality.
- International Tech Park, Olympia Technology Park, RMZ Millenia, and SP Infocity are within 15 km of Medavakkam.
Lifestyle In Medavakkam
- Medavakkam has a peaceful lifestyle, located close to the Coastal area.
- There is a mix of commercial and residential complexes in the locality, providing a perfect work-life balance.
- Along with that, the locality also offers numerous recreational destinations and leisure spots.
- There are several restaurants and cafes in the vicinity. Zonkk restaurant, the Cascade restaurant, Sangeeta Veg restaurant, Federal Cafe, Palmshore Restaurant, and Shri Ramanaas are some of them.
- The locality is close to the Bay of Bengal, enabling the presence of beaches alongside.
Safety and Security In Medavakkam
- The Kovilambakkam Police Station handles the law and order of this locality.
- Constant police patrolling is done here to ensure maximum safety.
- Traffic management is done through traffic signals and traffic police.
- There are proper civic amenities, such as street lights, especially on busy streets, to avoid accidents.
Development and Future Prospects In Medavakkam
- The proposed red metro line will connect Medavakkam to prominent parts of the city, such as Madhavaram and Sholinganallur.
- The Medavakkam flyover is said to be under further development. This will improve connectivity since this is an important highway near the locality.
- Upcoming metro and road extensions will overall enhance the transportation network. This will make commuting seamless throughout the city.
Culture and Community in Medavakkam
- Medavakkam has an all-inclusive environment where people from diverse communities have settled together in peace.
- There are several spiritual hubs and temples in and around the locality where people come together to celebrate festivals and special occasions.
- Shri Murugan Temple, Mela Tirupathi Srinivasa Perumal Temple, Pillaiyar Kovil, and Sri Sakhti Vinayagar Temple are some local temples nearby.
Environmental factors in Medavakkam
- Medavakkam is known to preserve its environmental significance.
- Since the locality is near the coastal area, Medavakkam enjoys a pleasant climate.
- There are multiple beaches accessible from the locality, along with parks and gardens.
- The Nanmangalam Reserved Forest is a major green space in the locality.
- VGP Pushpa Nagar Park, Vimla Nagar Park, Chennai Corporation Park, and Radha Nagar Park are some recreational parks close to Medavakkam.
- Some mystical beaches nearby include Injambakkam Beach, Panaiyur Beach, ECR Beach, etc.
Flat Configuration in Medavakkam
- Medavakkam offers a range of 1 BHK, 2 BHK, and 3 BHK residential properties.
- These properties are available in both under construction and ready-to-move conditions.
- 2 BHK properties are in great demand in Medavakkam.
- Medavakkam mainly has mid-segment and premium housing properties.
- Apart from that, other properties like independent floor apartments, villas, and land plots are also available here.
Property Price Growth in Medavakkam
- Due to rapid developments, there has been a healthy growth in property prices in Medavakkam.
- In the last 5 years, Medavakkam has seen around 41% growth in the property price rates.
- Whereas in the last 3 years, there has been a property price growth of approximately 24%.
- The YOY property price appreciation in Medavakkam is around 3%.
- Medavakkam has seen an annual rental yield of nearly 4% due to a good demand for rental properties.
- Medavakkam is expected to experience vast growth in the real estate market, being a rapidly expanding area. This makes it a viable option for property investment in Chennai.
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Frequently Asked Questions
What are the popular residential areas in Medavakkam?
Some of the top residential areas in Medavakkam include Navalur, Siruseri.
What types of properties are available in Medavakkam?
Medavakkam offers Apartment, catering to various budget segments.
What is the average property price in Medavakkam?
The average property price in Medavakkam ranges from ₹6,200 to ₹6,600 per sq.ft., depending on the location and amenities.
What are the metro stations in and around Medavakkam?
The metro stations in and around Medavakkam include key stops such as Chennai, Gokulam Park Sabari, Hotel Parkway Inn, Padur, Atos Chennai, providing convenient connectivity to major areas.
Are there affordable housing options in Medavakkam?
Yes, areas like Mambakkam Main Road, Subramanium St offer budget-friendly housing options in Medavakkam.
What are nearby locations in Medavakkam within 3KM?
Medavakkam is home to a mix of vibrant residential neighborhoods and bustling commercial hubs.Residential areas near Medavakkam
Are there luxurious housing options in Medavakkam?
Areas like Vengaivasal Main Road with price range above ₹1.42 Cr are known for luxurious residences in Medavakkam
Are there housing options in Medavakkam ranging from INR 30L to 60L?
Yes, Medavakkam offers flats starting at ₹30L to premium luxury residences going up to ₹60L. Buyers can explore these options in prime localities with modern amenities:
Are there luxurious housing options in Medavakkam priced above ₹1 crore?
Yes, Medavakkam offers several luxurious housing options priced above ₹1 crore, featuring premium amenities, spacious interiors, and prime locations.Top 1 properties are: