Real estate market boom in Medavakkam
No Comments Sub Category:Chennai,Cities,Realty News,Residential Real Estate Posted On: Nov 22, 2012
Chennai- According to a report by Knight Frank, in next five years Medavakkam is expected to outscore other residential hubs with regard to real estate property.Medavakkam is among 13 top investment destinations to appreciate more than 90 percent.
The survey has taken a number of things into consideration such as lifestyle change, job creation and infrastructure development.
The firm identified Pune, Bangalore, Mumbai, Delhi and Chennai as the best cities for investment purpose. Among 13 growing realty market the top three areas are in Mumbai, then Dwarka Expressway and Noida Extension in the National Capital Region (NCR), Hinjewadi in Pune and Medavakkam in Chennai. The price per square feet in Wadala and Chembur in Mumbai ranges from Rs 12,000 per sqft to Rs 15,000 per sqft.
Confederation of Real Estate Developers’ Association of India (CREDAI) Tamil Nadu chapter president Sandeep Mehta said that Medavakkam is a growing location due to location advantages, the area is close to many residential hubs, educational institutions and other facilities.
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