Prestige Falcon City Chennai Price per Sq Ft vs Medavakkam Average Rate

Knowing the Prestige Falcon City Chennai Price per Sq Ft vs Medavakkam Average Rate helps you make a smart decision before buying a home in South Chennai. Right now, the early price for Prestige Falcon City Chennai is ₹13,000 per sq. ft. (which will go up to ₹14,500 per sq. ft. after the official launch), while the Medavakkam average rate is much lower at ₹6,500 to ₹8,150 per sq. ft. for normal apartments. Even though the Prestige project costs almost double the local average, the reason is very simple: you are comparing a huge 25-acre luxury gated community on the main road to small, single apartment buildings inside the area.

Direct Price Comparison: Prestige Project vs. Local Market

When you check property websites, you will see a big price difference in Medavakkam. This happens because the area has two types of homes: budget flats built by small local builders and luxury townships built by big national companies.

Feature / Price Detail	Prestige Falcon City Chennai	Medavakkam Average Market
Base Price per Sq. Ft.	₹13,000 (Early price) to ₹14,500 (Launch price)	₹6,500 to ₹8,150 (Normal flat average)
Project Land Size	23 to 25 Acres (22 Tall Towers)	Less than 1 or 2 Acres (Single buildings)
Starting Price (2 BHK)	₹1.30 Crore (Base Price)	₹55 Lakhs to ₹85 Lakhs
Starting Price (3 BHK)	₹1.57 Crore (Base Price)	₹75 Lakhs to ₹1.10 Crore
Builder Type	Top National Builder (Prestige Group)	Small Local Builders
Open Space & Features	75% open green parks, big clubhouse, shops	Small gym, basic party hall, very little open space
Rental Return	High rent from IT workers and company managers	Normal rent from small families

Prestige Falcon City Chennai Flat Sizes & Price List

To see what you get for ₹13,000 per sq. ft., look at the flat sizes and total prices below. The project has 2, 3, 3.5, and 4 BHK homes with big balconies and plenty of sunlight.

Flat Type	Flat Size (Sq. Ft.)	Base Price Range	Total Price with Taxes*
2 BHK	1,001 – 1,220 sq. ft.	₹1.30 Cr – ₹1.46 Cr	₹1.45 Cr – ₹1.62 Cr
3 BHK Regular	1,380 – 1,550 sq. ft.	₹1.57 Cr – ₹1.78 Cr	₹1.75 Cr – ₹1.98 Cr
3.5 BHK (3 BHK + Study Room)	1,750 – 2,150 sq. ft.	₹1.95 Cr – ₹2.29 Cr	₹2.18 Cr – ₹2.55 Cr
4 BHK Large	2,450 – 2,735 sq. ft.	₹2.63 Cr – ₹3.54 Cr	₹2.92 Cr – ₹3.92 Cr

*Note: Total price includes 5% GST, 7% Stamp Duty, 2% Registration fees in Tamil Nadu, and basic floor rise charges.

Why Does Prestige Falcon City Cost More Than Local Flats?

Many buyers ask why they should pay ₹13,000 per sq. ft. when a local flat nearby costs ₹7,500 per sq. ft. Here are the 5 simple reasons for the higher price:

Huge Gated Community: Most flats inside Medavakkam are built on small plots with only 10 to 50 homes. Prestige Falcon City sits on 23+ acres of land. You pay extra for wide private roads, big green parks, sports courts, and safe walking areas with no traffic.
Main Road Location: This project is right on the main Medavakkam–Sholinganallur Road. While inner streets of Medavakkam cost ₹6,500 to ₹7,500 per sq. ft., nearby IT areas like Sholinganallur already cost ₹12,500 to ₹16,000 per sq. ft. for top projects.
Near New Metro Station: The new Chennai Metro Phase 2 station at Medavakkam Junction is coming up nearby. Homes near a metro station always sell and rent for 20% to 30% more money.
Better Building Quality: Big builders like Prestige use strong concrete wall technology, fast lifts, and grand entry lobbies. These buildings stay strong and look new even after 15 years, while small buildings often get water leaks and cracks after 10 years.
Safe Lifestyle & Good Neighbors: For IT managers, doctors, and business owners, 24/7 security, full power backup, clean water plants, and a great community make the extra cost worth it.

Extra Costs You Should Know Before Buying

When you compare the Prestige Falcon City Chennai price per sq ft with local flats, always ask the sales team for the Final Cost Sheet. The base price does not include everything. Keep these extra costs in mind:

Floor Rise Charge: Since this project has 22 tall towers, buying a flat above the 5th floor costs an extra ₹50 to ₹100 per sq. ft. for every floor you go up.
View Charges (PLC): Flats that face the swimming pool, main garden, or clubhouse cost a little more than regular flats.
Government Taxes: For new flats under construction, you have to pay 5% GST. You also have to pay Tamil Nadu government charges of 7% Stamp Duty and 2% Registration Fee.
Maintenance Money: Big gated communities take 1 or 2 years of maintenance money in advance to keep the parks, pool, and security running smoothly.

Final Advice: Which One Should You Buy?

Picking between Prestige Falcon City and a normal Medavakkam flat depends on your budget and what your family needs:

Buy a Normal Medavakkam Flat (₹6,500 – ₹8,000/sq. ft.) if: Your budget is strictly under ₹90 Lakhs, you want to move into a ready home right now, and you want low monthly maintenance bills without paying for a big clubhouse or swimming pool.
Buy Prestige Falcon City Chennai (₹13,000/sq. ft.) if: Your budget is above ₹1.35 Crore, you want a luxury lifestyle with top safety and parks for your kids, or you want to earn high rent from IT employees working on OMR and in Sholinganallur.

Frequently Asked Questions

1. What is the difference between the Prestige Falcon City Chennai price per sq ft and the Medavakkam average rate?

Prestige Falcon City Chennai costs ₹13,000 per sq. ft. as an early offer, while the average rate in Medavakkam is ₹6,500 to ₹8,150 per sq. ft. The Prestige flat costs more because it is a huge 23-acre luxury township on the main road, while the local average is for small, single apartment buildings.

2. Will the price per sq ft of Prestige Falcon City Chennai go up later?

Yes. The ₹13,000 per sq. ft. rate is a special early offer. Once the project officially launches and construction picks up speed, the base price will go up to ₹14,500 per sq. ft.

3. What is the starting price of a 2 BHK flat in Prestige Falcon City compared to local Medavakkam flats?

A 2 BHK flat (1,001 to 1,220 sq. ft.) in Prestige Falcon City starts at ₹1.30 Crore (base price). A normal 2 BHK flat from a small local builder inside Medavakkam costs between ₹55 Lakhs and ₹85 Lakhs.

4. Does the ₹13,000 per sq ft price include GST and registration charges?

No. The ₹13,000 per sq. ft. rate is only the base price of the flat. You have to pay extra for 5% GST, 7% Stamp Duty, 2% Registration fees, high-floor charges, and maintenance deposits.

5. How much is the booking amount for Prestige Falcon City Chennai?

To book your flat early, you can give a refundable booking cheque (EOI amount) of ₹3 Lakhs for a 2 BHK, ₹5 Lakhs for a 3 BHK, and ₹8 Lakhs for a 4 BHK flat.

6. Why are property rates in Medavakkam going up so fast?

Medavakkam is right next to the OMR IT road (Sholinganallur) and connects easily to the airport via GST Road. Because of the new Metro train work and growing IT offices nearby, house prices here are rising by 8% to 10% every year.

7. Is paying a higher price per sq ft for a Prestige flat good for rent and resale?

Yes. Homes built by the Prestige Group get 30% to 40% more rent because IT families love the clubhouse, safety, and open parks. It is also much easier to sell a Prestige flat later for a big profit compared to an old standalone building.