Several accidents have been reported from a section of the Medavakkam Main Road that stretches from St. Thomas Mount station to Medavakkam Koot Road. Last week, an 11-year-old boy riding a cycle died on the spot after being hit by a water lorry.

As per records available with the Chennai Traffic Police, it was one of 47 accidents to have occurred in 2015 on this stretch. Six of them were fatal.

In 2013 and 2014, there were 87 accidents each on this stretch with 15 fatalities recorded in both the years. Residents said most of the fatal accidents were caused by speeding heavy vehicles.

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Medavakkam, a residential locality in south Chennai is expected to outscore all other residential hubs in the state in terms of real estate appreciation in the next five years, says a report by global property consultant Knight Frank.

According to the report, Medavakkam has emerged as India’s 6th largest destination for investment in the residential real estate, in the list of 13-top residential destinations in the country from an investment point of view, where housing prices are expected to increase by 103 percent over the period 2012-2017.

The real estate rates in Medavakkam are expected to appreciate more than 90 per cent in the next five years, states the report. “Developers who launched residential projects in Medavakkam two years ago at Rs 2,500 per sq ft have witnessed the prices jump to the current average rate of Rs 4,800 in the 2 BHK category,” says Sazil of DHFL Property Services Ltd.

Continue reading “Medavakkam among top growing realty markets in Chennai” →

The property show which has become India’s favorite real estate television program knowledges its viewers about the pros and cons about the Indian real estate market.

The citizens in India say that they too are gaining lots of information about Indian realty.

Similarly, one of the recent episodes of “The property show” on NDTV channel threw a spot light on reviewing ready to move-in flat options in cities like Delhi and Mumbai.

Continue reading “Property show on NDTV a must watch!” →

CHENNAI: Medavakkam in south Chennai is expected to outscore all other residential hubs in the state in terms of real estate appreciation in the next five years, according to a report released by realty consultant Knight Frank.

It is among the 13 most happening places across the country that would appreciate more than 90% in the next five years, the report said. Ulwe in Navi Mumbai and Wadala and Chembur in Mumbai figure on the list.

Seven of the top nine spots on this list are in Mumbai and Pune. While rates in Ulwe are expected to rise 145% in five years, in Wadala and Chembur the hike is likely to be 133% and 125%, the report said. The report seeks to identify areas that will develop because of factors such as job creation, infrastructure development and lifestyle change.

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The last couple of years or so have been rough on the real estate market in Chennai. Driven by fears of a slowdown, people put their home buying plans on hold. Given that the city has a primarily end-user driven market, unattractive property prices and home loan interest rates were significant concerns.

The tide, however, does seem to have turned for Chennai. Interest rates on home loans were reduced in 2015 and with growing infrastructure enhancing connectivity, the future of Chennai’s real estate market is certainly looking up.

At RoofandFloor, we felt there’s no better way to celebrate the return to form of the real estate market than letting you in on some of the insights we have collected about the real estate market in Chennai. This RoofandFloorexclusive will give you the basic information you need about investing in the most talked-about upcoming localities in Chennai.

Continue reading “Top residential localities to look out for in Chennai” →

Medavakkam is the prime localities in the city which is located in the south Chennai. Medavakkam property is observing a stable growth when it comes to residential sector. Several real estate professionals consider say that the plots in Medavakkam continue to dominate across the city as a center for residential growth.

A survey by Knight Frank India shows that plots for sale in Medavakkam can be deliberated as hotspots for residential investment and going onward, can acquire perceptible appreciation. There is a huge demand for properties that increased more number of Medavakkam plots for sale in the suburb. This area has become a hot spot owing to its self-sustainability and closeness to IT Parks as well as several manufacturing sites. Plots in Medavakkam is increased because of its ability of self-sustainability as well as its connectivity, the area is inherited as a residential town colony. Medavakkam real estate witnessed 20 % value appreciation from the past 2 years. The government has given CMDA authorization to increase residential plots on suburb. Cmda approved plot Medavakkam has increased due to these reasons.

Continue reading “IT Corridors Booming Medavakkam Real Estate” →