Manali property market: An overview


Manali, one of the industrial zones of Chennai, is very-well connected to all the parts of the city

Manali, a locality in the northern part of Chennai, used to be a bamboo forest, before the British rule. Gradually, the locality saw growth of industries and now, it is one of the major industrial zones in the city. There are many industries in the area like Chennai Petroleum Corporation Limited, Madras Fertilizers Limited, Madras Rubber Factory (MRF), Kothari Chemicals and Pesticides, etc.

 

As far as Manali real estate is concerned, the locality is gradually developing a mix of residential and commercial complexes. Due to the advent of various IT majors and other multinational corporations, Chennai has been witnessing a rapid influx of working population from outside. As a result, there has been a surge in the demand for real estate in Chennai which is automatically leading to demand for residential apartments in Manali.

 
Nearby Manali localities include Perambur, Ennore, Jawahar Nagar, TVK Nagar, Madhavaram, etc. There are many projects in Manali, which have been launched by prominent builders like Unitech, Navin Housing, etc.

 

Connectivity with nearby Manali localities

  • Paper Mills Road, Madhavaram High Road, Manali Main Road and Siruvallur Road, are some of the prominent roads which run though the area.
  • The locality is located at a distance of approximately 17 kilometres from Koyembedu Bus Stand, one of the landmarks in Chennai.
  • As far as metro connectivity is concerned, the Koyembedu, Chennai Central and Egmore metro stations, lie in close vicinity.
  • The Chennai Central and the Chennai Egmore suburban railway stations, are located approximately 12-13 kilometres from the area. The railway station nearest to Manali is Tiruvottiyur, which is located at a distance of 4 kilometres from the area.

 

Employment hubs near Manali

  • Tamil Nadu Industrial Corporation is located very close to the locality and is approximately 15 kilometres away.
  • Quanta Engineers and ETL Infrastructure- Chennai One, are also located approximately at a distance of 15 kilometres from the locality.
  • Navin WSS Towers, Khadar Nawaz Khan Road and Visharanthi Homes are located at an approximate distance of 14-15 kilometres only from the area.

 

Schools in Manali and other social amenities

There are a lot of social amenities near Manali. Some of the reputed schools near Manali include the Doveton Correy Boys Higher Secondary School, Don Bosco Matriculation Higher Secondary School, Chennai Corporation Higher Secondary School, etc. Some of the leading hospitals near Manali include the Amrit Hospital, Abhijay Hospital, Stanley Hospital, etc. The shopping needs of the residents are catered by malls near Manali such as the Fountain Plaza, Abhirami Mega Mall, Spectrum Mall, etc.

 

Price trends in Manali

  • Price appreciation—Around 15% in the last one year.
  • Current property rates—Rs 2,750-Rs 4,639 per sq ft.

 

Reasons to invest in Manali

Having a great mix of residential and commercial properties, Manali offers many choices.  It has excellent connectivity and social infrastructure and these are the major reasons for its rapid growth. Thus, there is no denying that Manali is offers good residential options in Chennai. Further, considering the price trends in Manali and the rising demand, the locality will definitely prove to be a good investment region in future. Property rates in the area are likely to appreciate, with a number of projects being developed. With ample scope for development, the area will only grow further.

Check properties in Manali

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