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About Properties In Mandaveli, Chennai for Sale
Overview of Mandaveli
- Mandaveli is a posh locality situated in the central zone of Chennai, Tamil Nadu.
- The locality is a popular residential cum commercial suburb in the city of Chennai.
- The locality mainly offers housing units in a premium price segment.
- Located close to Chennai’s coastline, Mandaveli enjoys a tranquil and pleasant environment.
- The connectivity network here is excellent, and there are vast transportation options available.
- Investors and buyers are drawn here due to a robust connectivity network, rapid development and growth potential.
- Raja Annamalaipuram, Jeth Nagar, Mylapore, Alwarpet, Bhaskarapuram,
- Royapettah, Saradapuram, Abhiramapuram, and Santhome are some of the localities surrounding Mandaveli.
- Mandaveli is famous for its beaches, green spaces and pleasant climate.
- The PIN Code of Mandaveli is 600004.
Mandaveli Residential Market Insights
- The average property price in Mandaveli ranges from ₹10,000 to ₹17,000 per sq. ft.
- The average price of a 1 BHK apartment in Mandaveli ranges from ₹30 lakh to ₹70 lakh.
- The average price of a 2 BHK apartment in Mandaveli ranges from ₹70 lakh to ₹1.5 crore.
- The average price of a 3 BHK apartment in Mandaveli ranges from ₹1 crore to ₹3 crore.
- The average price of a 4 BHK apartment in Mandaveli ranges from ₹2 crore to ₹5 crore or more.
- The average price of a 5 BHK apartment in Mandaveli ranges from ₹3 crore to ₹8 crore.
- The average rental price in Mandaveli ranges from ₹20,000 to ₹40,000 per month or more, depending on the flat configuration.
- The average price of land parcels in Mandaveli ranges from ₹3 crore to ₹25 crore.
- The presence of IT corridors and a good transportation network has increased rental demand in Mandaveli.
- Mandaveli mainly offers mid-segment to luxury residential properties.
- Prices of properties may vary based on certain factors such as apartment configuration, exact carpet area, location, scenic advantages, etc.
- These properties are available in both ready-to-move and under construction conditions.
- Several reputed builders and developers have a presence in Mandaveli.
Connectivity and Transport In Mandaveli
- Mandaveli is situated at a prime location in the city of Chennai. Therefore, it enjoys excellent connectivity with prominent parts of the city.
- Mandaveli Railway Station is a major commuting option in the locality.
- Other railway stations, such as Greenways Road Railway Station and Thirumayilai Railway Station along the MRTC Suburban Railway Line, also offer excellent connectivity.
- Metro Stations such as Teynampet Metro Station and Nandanam Metro Station along the Blue line of the Chennai Metro network connect the locality to the rest of Chennai.
- The Chennai International Airport is located within 15 km of the locality. The airport is seamlessly accessible through the Chennai - Trichy Highway.
- Canal Bank Road and Sringeri Mutt Road pass through the locality, serving as prime sources of road connectivity.
- Other arterial roads such as Chamiers Road, St. Mary’s Road, Ramakrishna Mutt Road, Venkatesa Agraharam Road, and Venkatakrishna Road are a part of the vast road network of the locality.
- The MTC local buses are readily available at multiple bus terminals all over the locality.
Social Infrastructure In Mandaveli
- Reputed hospitals nearby are K.M.Speciality Hospital, Pallava Hospital, VHM Hospital, St. Thomas Hospital, Rakshith Hospital, etc.
- Well-known educational institutions include SRM Easwari Engineering College, Meenakshi College of Engineering, Alpha Arts and Science College, SRI Ramachandra Medical College, etc.
- Ramee Mall, Nexus Vijaya Mall, Express Avenue, Forum Mall, etc., are some leisure shopping options nearby
- There are also other essential services, such as hotel stays, petrol pumps, banks, ATMs, grocery stores, medical stores, etc., available to cater to the daily needs of the residents.
Employment Opportunities In Mandaveli
- Mandaveli is known for being close to prominent employment areas in the city of Chennai.
- TIDEL Park, Ramanujan IT City, Mahindra World City, Tamarai Tech Park, International Tech Park Chennai, ESPEE IT Park, AMBIT IT PARK are some prestigious IT hubs located within a reachable distance from Mandaveli.
- Industrial areas such as Suri Industries, Komatsu Industrial Area, and Saidapet Industrial Area are also accessible from the locality.
- Moreover, Mandaveli is located close to commercial zones such as Guindy, Ambattur and Gerugambakkam.
- Some Special Economic Zones, such as ELCOT SEZ, Madras EPZ, and Chennai One IT SEZ, are within 10km of Mandaveli.
- Along with that, Mandaveli is very smoothly connected to these commercial and industrial areas, as well as the central city of Chennai. This has increased the demand for the locality in the residential market.
Lifestyle In Mandaveli
- Mandaveli enjoys a vibrant lifestyle with a mix of luxury and conveniences.
- Along with a bustling residential and commercial market, the locality also offers a number of recreational centres nearby.
- Restaurants, cafes, malls, parks, gyms, and playzones are present here.
- Pumpkin Tales Restaurant, Paramparah Multicuisine Restaurant, Sangeetha Veg Restaurant, and Singapore Club Restaurant are popular dining options
Safety and Security In Mandaveli
- Mandaveli is a safe and sound locality in Chennai.
- The locality has several police stations in the vicinity, ensuring the safety of its residents.
- Police patrolling is practised on a regular basis to avoid illegal activities and criminal incidents.
- Traffic control is done through traffic signals and traffic police.
- Modern complexes are equipped with security measures such as fire alarms, intercoms and CCTVs.
Development and Future Prospects In Mandaveli
- Mandaveli will experience better metro connectivity with the planned extension of the Purple metro line and the Yellow metro line along the Chennai metro network.
- The developments along the Mandaveli bus depot will allow smooth public transportation to and from the locality.
- New residential and commercial establishments are making the locality a sought-after investment option in Chennai.
- Planned expansions of flyovers and roads will improve the overall road connectivity network in and around the locality.
Culture and Community in Mandaveli
- Mandaveli is known to be a culturally diverse locality in central Chennai.
- People celebrate festivals and special occasions together as a sense of community belonging.
- Mandaveli is known for its vibrant and peaceful environment due to the presence of temples, spiritual hubs and beaches.
- Mandaveli has a diverse food culture as well. From multicuisine restaurants to authentic South Indian eateries, everything is found here.
- Kapaleeshwarar Temple, Sai Baba Temple, Mylapore, Sri Adikesava Perumal Peyalwar Temple, Arulmigu Mundagakanni Amman Temple, Shri Ashtalakshmi Temple, and Sri Anantha Padmanabha Swamy Temple are some popular ancient temples in the vicinity of the locality.
- These temples are prominent spiritual hubs but also represent the architectural significance of the city.
Environmental factors in Mandaveli
- Mandaveli is a well-developed locality with well-planned green spaces and open areas. Thus, the locality promotes a sustainable living environment.
- The locality is situated close to the coastline of Chennai. Therefore, many beaches are within a reachable distance from here.
- Along with that, there are several green parks and recreational gardens near the locality.
- New commercial and residential spaces are specially designed with ample green areas and open spaces to keep the complexes habitable and pleasant.
- Marina Beach, Edward Elliot’s Beach, Foreshore Estate Beach, and Besant Nagar Beach are popular beach areas near the locality.
- Kotturpuram Tree Park, Dharmambal Corporation Park, Kesavaperumal Park, and R A Puram Corporation Park are some recreational parks around the area.
- The air quality is moderate here due to the presence of greenery and waterbodies nearby.
Flat Configuration in Mandaveli
- Mandaveli offers a range of 1 BHK, 2 BHK, 3 BHK, 4 BHK and 5 BHK properties.
- These properties are available in both under-construction and ready-to-move conditions.
- 2 BHK properties are most popular in Mandaveli.
- Mandaveli mainly has premium and mid-segment housing properties.
- The locality primarily offers apartments, but other properties like independent floor apartments, villas, and land plots are also quite popular here.
Property Price Growth in Mandaveli
- Due to rapid developments, there has been a healthy growth in property prices in Mandaveli.
- In the last 5 years, Mandaveli has seen around 20% growth in the property price rates.
- The YOY property price appreciation in Mandaveli is around 30%.
- Mandaveli has seen an annual rental yield of nearly 7% due to a good demand for rental properties.
- Mandaveli is expected to experience vast growth in the real estate market, being a rapidly expanding area. This makes it a viable option for property investment in Chennai.
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