Overview of Mandaveli, Chennai

Mandaveli, in central Chennai, is a popular residential spot blending old-world style and fresh conveniences.

Location and Connectivity

• Situated centrally, Mandaveli sits next to main areas like Mylapore, Santhome, MRC Nagar, RA Puram, Alwarpet, Adyar, and Besant Nagar.
• You can easily reach it via the Mandaveli MRTS station, connecting Chennai Beach in the north and Velachery in the south using public transport.

Property Prices and Trends

• Properties here begin at around Rs. 7,692 per square foot, moving up to an average of Rs. 7,948 per square foot. Top-tier properties can reach up to Rs. 8,488 per square foot.
• Flat prices range from Rs 9,800 to Rs 20,300 per square foot, with typical prices around Rs 12,950 per square foot.

Types of Properties

• Mandaveli presents an array of homes, such as villas, apartments, and varying sizes of land.
• You'll also find independent houses and builder floors, priced from Rs 7,500 to Rs 9,000 per square foot.

Renting in Mandaveli

• 2 BHK apartments are common rentals, with rents from ₹16,000 to ₹21,000 per month. Deposits are typically between ₹1 lakh to ₹1.26 lakh.
• Renters may enjoy amenities like Corporation water, Rain Water Harvesting, Feng Shui/Vastu, and maintenance staff.

Amenities and Quality of Life

• Nearby are major entertainment and retail hubs, such as Express Avenue Mall and City Centre, within 5 kilometers.
• This area shares cultural heritage with Mylapore, the heart of Chennai’s culture. There are many places of worship and a noticeable Brahmin and Hindu follower population.
• The neighborhood has thoughtfully crafted residential areas within a serene and natural setting with close access to good schools, clinics, and other services.

Long-Term Investment

• Mandaveli's property prices have dropped recently, notably by 43.46% over the last year and -14.0% over the last five years.
• Still, Mandaveli is a good choice to invest in due to its central position, connectivity, and quality of life.

PropertyWala's Conclusion

Mandaveli in Chennai offers a balanced residential option thanks to its strategic placement, cultural richness, and modern conveniences. Although property prices have dipped, the long-term outlook and lifestyle amenities make it worth considering for buyers and renters alike. Whether for buying or renting, Mandaveli combines tradition and modern living in a top-notch neighborhood.