Location Overview

Medavakkam is a well-established residential locality in South Chennai, positioned between the OMR IT corridor and GST Road. It has evolved from a peripheral suburb into a preferred mid-income housing destination due to its connectivity, social infrastructure, and comparatively affordable pricing.

Price Range & What It Includes

For a budget under Rs 80 lakhs, buyers typically find the following:

• Price range: Rs 55 lakhs to Rs 80 lakhs
• Carpet / built-up area: ~850 sq. ft. to 1,100 sq. ft.
• Cost per sq. ft. (approx.): Rs 6,000 – Rs 8,500 (varies by project, age, and road access)

What you usually get:

• 2 bedrooms, 2 bathrooms
• One balcony (in most new projects)
• Covered car parking (sometimes optional in lower budgets)
• Lift and basic power backup
• Small to mid-size apartment communities

Premium amenities like large clubhouses, swimming pools, or landscaped podiums are limited in this budget but may appear in newer gated developments at the upper end of Rs 75–80L.

Types of Properties Available

1. Ready-to-Move / Resale Flats

• Older constructions (5–10 years) or recently completed projects
• Immediate possession
• Slightly larger layouts for the price
• Lower GST impact (or none for resale)

2. Under-Construction Flats

• Newer design, better fittings
• Flexible payment plans
• Possession usually within 1–2 years
• Slightly higher risk, but better long-term value if the project is reliable

Buyer Profile & Demand

2 BHK flats under Rs 80L in Medavakkam mainly attract the following:

• First-time homebuyers
• Salaried professionals working in IT corridors
• Small families upgrading from rented homes
• Investors targeting rental income

Demand remains consistent because this price band fits home-loan eligibility for a large middle-income segment.

Appreciation & Investment Perspective

• Capital appreciation: Steady, not speculative
• Rental demand: Strong for 2 BHK units due to nearby IT employment zones
• Rental range (approx.): Rs 18,000 – Rs 28,000/month depending on project quality and proximity to main roads

Medavakkam is viewed as a stable end-user market, meaning price growth is gradual but sustainable.

Infrastructure & Livability Factors

Positives

• Access to schools, colleges, hospitals, supermarkets
• Road connectivity to Velachery, Pallikaranai, OMR, and Tambaram
• Improving civic amenities over time

Challenges

• Interior roads in some pockets are narrow
• Waterlogging issues during heavy rains in select stretches
• Traffic congestion during peak hours near junctions

These factors affect pricing within Medavakkam itself—main-road or well-planned pockets command higher rates.

Legal & Cost Considerations

When buying under Rs 80L, buyers should factor in the following:

• Registration & stamp duty (approx. 7–9% of property value)
• Maintenance deposits in gated communities
• GST (only for under-construction properties)
• Loan eligibility and EMI comfort (most buyers fund 75–80% via home loans)

Conclusion 

2 BHK flats under Rs 80 lakhs in Medavakkam offer the following:

• A balanced mix of affordability and location advantage
• Suitable options for both end-users and long-term investors
• Stable resale and rental potential
• Fewer luxury amenities but strong functional value