Why Should You Consider Investments in Madipakkam, Chennai?
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Thinking where to invest in affordable properties in Chennai? Why not consider Madipakkam? The area has climbed the charts to clinch the fourth spot from its seventh position among the top markets in Chennai to invest in.
Here is a list of why more people are interested in property in Chennai’s Madipakkam for investment:
1. Avenues of connectivity
2. Affordable property
3. Infrastructure
4. Wide spectrum of configurations
Connectivity
Madipakkam enjoys good connectivity with the rest of Chennai through the suburban railway network. It is in close proximity to the St Thomas Mount and Velachery Railway Stations (around 3 Kilometres from here). Buses and auto-rickshaws are easily available here. Important thoroughfares of the city such as Medavakkam High Road, Inner Ring Road, Madipakkam Main Road and OMR pass through here. The Metro Railway Network is slated to be extended till here.
The area is connected to Pallavaram and the Chennai Tiruchi Highway which adds to its strategic location. Because Madipakkam is served by so many arterial roads, traffic congestion is a major issue here and finding parking space is difficult. Localities along the OMR such as Perungudi, Karapakkam and Sholinganallur are located close to Madipakkam. The Chennai International Airport is 6 kilometres from here while the Central Railway Station is around 21 kilometres away.
Affordable property
Chennai real estate in Madipakkam is reasonably priced which has attracted buyers from all quarters. Being a part of south Chennai, it is close to Maduvinkarai and Velachary. For flats for sale in Chennai in Madipakkam, you will have to spend Rs 4500 to 5500 per sq ft. In comparison, Maduvinkarai has projects that command capital values from Rs 6300 to 8000 per sq ft while Velachery commands Rs 6150 to 7800 per sq ft.
Madipakkam is located close only 10 kilometres from Adyar, where property prices range from Rs 13,000 to 17000 per sq ft.
Available Infrastructure
Several quality English and Tamil medium schools are located in the vicinity that attracts pupils from different areas of Chennai. Some of them are Prince Matriculation Higher Secondary School, St. Thomas Matriculation Higher Secondary School, Raj Kumar Suloksanan School, Sai Matriculation Higher Secondary School and others. The Perumal Engineering College is located close too.
The civic infrastructure of Madipakkam is quite developed although certain pockets face issues. Areas like Ram Nagar South have issues of drainage and water logging. However, the rest of Madipakkam is well developed when it comes to civic infrastructure. The area receives regular water supplies and power cuts are minimal.
The neighbourhood is regularly patrolled by constables and has a police station. The liveability quotient of Madipakkam bettered after it was included within the limits of the Chennai Municipal Corporation.
Supply in Madipakkam
Madipakkam currently has a good supply of 2BHK flats while a handful of 3 and 1BHK flats are also being sold here. The price of 1BHK flats for sale in Chennai in Madipakkam range from Rs 18 to 29 lakh and their sizes vary between 450 and 750 sq ft. The 2BHK apartments in the area measure between 800 and 1200 sq ft and they are priced from Rs 35 to 65 lakh.
Most of the demand for residential properties in Madipakkam is from salaried professionals working in the IT hubs of OMR and Velachery.