How Does Employment in Chennai Affect Property Prices?

When more jobs open up in a city, home prices usually go up. In a fast-growing city like Chennai, new jobs in IT, factories, and finance are the main reason people want to buy homes. As big companies and tech parks grow, workers move in and need good places to live. Most people prefer a short daily commute, so home buyers and investors look for houses near major work centers. As a result, roads improve, shops and schools open, and land values rise. This directly increases home prices and monthly rent income.

A great example of this is Prestige Falcon City Chennai, located on the Medavakkam–Sholinganallur Road. As job opportunities grow along South Chennai’s famous IT corridor on Old Mahabalipuram Road (OMR) and nearby business parks, neighborhoods like Medavakkam have become top choices for home buyers.

Prestige Falcon City Chennai: Complete Project Overview

Built by the Prestige Group, Prestige Falcon City Chennai is a modern apartment community spread over 23 acres in South Chennai. The project features 22 tall residential towers with two basement floors, a ground floor, and 14 upper floors. In total, it has 2,170 well-designed apartments built for modern families and working professionals.

Parameter	Project Specification Details
Total Land Area	23 Acres (80% open green space)
Location	Medavakkam–Sholinganallur Road, South Chennai
Total Units / Towers	2,170 apartments across 22 towers
Structure	2 Basements + Ground + 14 Upper Floors
Unit Types	2 BHK, 3 BHK, and 4 BHK homes
Apartment Sizes	1,001 sq. ft. to 2,735 sq. ft.
Price Range	₹1.30 Crore to ₹3.54 Crore*
Expected Possession	December 2030 / 2031

Strategic Location & Connectivity

The project sits on Medavakkam Main Road, making it easy to travel for work and daily needs:

Close to IT Parks: Just 5 km (about 10 minutes) from the main OMR IT hub in Sholinganallur, home to major tech companies like TCS, Wipro, and Cognizant.
Easy Metro Travel: Only 5 minutes away from the upcoming Medavakkam Metro Station, offering fast rides across the city.
Airport & Main Roads: About 30 minutes (12 km) from Chennai International Airport via the 200 Feet Radial Road.
Schools & Hospitals: Located right next to Gleneagles Global Health City hospital, with good schools like PSBB Millennium and Velammal nearby.

Architecture, Layouts, & Pricing

Around 80% of the project area is kept open for green gardens and outdoor play spaces. The homes feature smart automation options, energy-saving lights, and practical room layouts.

Apartment Configuration	Size Range (Sq. Ft.)	Approximate Starting Price	Target Audience
2 BHK	1,001 – 1,220	₹1.30 Cr – ₹1.46 Cr*	Working couples & small families
3 BHK (Compact / Large)	1,380 – 2,150	₹1.57 Cr – ₹2.29 Cr*	Families who need extra space or home offices
4 BHK Luxury	2,450 – 2,735	₹2.63 Cr – ₹3.54 Cr*	Large families looking for extra room and comfort

World-Class Amenities

Residents can enjoy over 60 basic and luxury facilities within the gated community:

A large clubhouse with a swimming pool, gym, spa, cafe, and event spaces.
Walking and cycling tracks, yoga spots, and outdoor courts for tennis and cricket practice.
Eco-friendly features like solar lights, rainwater storage, and electric vehicle charging points in the parking area.
24/7 security with security cameras, smart locks, and video door phones.

Frequently Asked Questions (FAQs)

1. How does rising employment in Chennai impact residential property prices?

When companies create new jobs, workers move near those offices. This high demand for housing increases property values and rental rates in areas like Medavakkam and OMR.

2. Where is Prestige Falcon City Chennai located?

It is located on Medavakkam–Sholinganallur Main Road in South Chennai, next to Gleneagles Global Health City hospital.

3. What unit variants and floor sizes are available in Prestige Falcon City?

The project offers 2 BHK, 3 BHK, and 4 BHK apartments, ranging from 1,001 sq. ft. to 2,735 sq. ft. in size.

4. What is the starting price for apartments at Prestige Falcon City Chennai?

Prices start at around ₹1.30 Crore for a 2 BHK, ₹1.57 Crore for a 3 BHK, and go up to ₹3.54 Crore for a 4 BHK home.

5. How far is Prestige Falcon City from the main IT hubs of Chennai?

It is about 5 km (a 10-minute drive) from the Sholinganallur OMR IT hub and ELCOT SEZ.

6. What lifestyle amenities are provided inside the township?

The project offers over 60 amenities, including a big clubhouse, swimming pool, gym, sports courts, green gardens, smart home features, and EV charging points.

7. Is Prestige Falcon City a good real estate investment for rental income?

Yes. Its location near tech parks, upcoming metro connectivity, and strong builder reputation make it a solid choice for long-term value and rental income.