View Complete Profile
Medavakkam has transformed into a bustling realty and is the 6th largest destination for investment in the residential real estate, where prices are expected to rise by 103 percent over the period 2012-2017. The locality enjoys a good neighbourhood... and the new apartments in medavakkam offer most amenities a resident can dream of. Its proximity to Chennai Airport and Velacherry MRTS station adds value to the real estate projects. Demand for medavakkam flats has been on the rise as the area offers good infrastructures such as MRTS, connectivity to GST road and also the proposed Monorail project that is enhancing the property rates here. Investment done in plots and independent floor are for end use purpose. After taking into account the upcoming projects in Medavakkam, it can be regarded as an emerging investor heaven for middle-income home buyers as well as investors. Analysts believe that money reaped here can give fat returns in the next three years. . The ROI (Return on Investment) has witnessed an increase of 3 to 9% q-o-q.
Average apartment prices in this locality range from Rs. 3,900/- to 4,500/- per sq. ft. Average land prices are Rs.2,500/- to 6, 800 per sq. ft. The growth rate in this area is 5 %. Major builders in this area include: Anu Builders, Rohaan Construction & Builders, and Vishnu Homes.
Stamp Duty is 7%, Registration Fees is 1%.
vakilsearch.com is India's leading real estate legal solutions provider.
They are the official legal advisory partner of the Confederation of Indian Industry and a legal services affiliate of Sulekha.comRead more