Madipakkam Overview, Chennai

Location and Connectivity

In southern Chennai, Madipakkam boasts closeness to key areas like Velachery and various IT firms on the Old Mahabalipuram Road (OMR). This spot makes it the perfect place for IT pros and people needing easy access to major city hubs.

Property Prices

• Starting property prices in Madipakkam are around Rs. 2,333 per sqft, with the average going about Rs. 6,781 per sqft.
• Flat prices move from Rs. 5,600 to Rs. 8,150 per sqft. Land rates range between Rs. 6,150 to Rs. 9,250 per sqft, and builder floor prices vary from Rs. 5,100 to Rs. 6,750 per sqft.

Property Types and Availability

• Madipakkam features properties like apartments, independent houses, and villas in diverse sizes and layouts.
• We find over 884 properties for sale, popular options including 1 BHK, 2 BHK, and 3 BHK flats.

Rental Prospects

• Options for renters include semi-furnished and unfurnished apartments and independent houses.
• Rental prices look like this:
  • For 1 BHK apartments, leases cost around Rs. 7 lakhs or monthly rents of ₹22,000 - ₹25,000.
  • Monthly rentals for 2 BHK apartments are around ₹23,000.
  • 3 BHK independent houses can cost up to Rs. 20 lakhs or monthly rents around ₹25,000.

Social Infrastructure and Amenities

• The location has plenty of schools, hospitals, markets, and railway stations.
• Properties usually include amenities like corporation water, drainage facilities, lifts, 24*7 power backup, security, CCTV, and sometimes more like swimming pools and club houses.

Price Trends and Appreciation

• Property rates in Madipakkam are constantly rising:
  • Up 5.35% last year.
  • Increased by 7.5% over three years and 19.4% in five years for flats.
  • In the long run, a 37.2% bump over 10 years for flats.

Upcoming Infrastructure

• The area rides the benefits from being near expanding IT hubs and infrastructure developments to come, enhancing its appeal to buyers and tenants.

PropertyWala's Conclusion

In bottom line Madipakkam, Chennai, stands out for buyers and renters alike thanks to its strategic spot, affordable property rates, and strong social infrastructure. Steady price appreciation and upcoming infrastructure mean it's a good bet for investment. Whether you've got a spot as an IT pro or as someone hunting for long-term returns on an investment, Madipakkam offers a good mix of affordability, perks, and growth chances.