Overview of Nilamangai Nagar, Chennai

Location and Accessibility

Nilamangai Nagar can be found in the Adambakkam area of Chennai, Tamil Nadu. Its position makes it easily reachable from many parts of the city, proving it’s a central pick for those wanting a nearby life.

Property Rates and Trends

• The average price of property in Nilamangai Nagar is around ₹10,623 per square foot.
• Historical trends show these changes:
  • There’s been a 5% rise in 2023, pushing rates up to ₹7,757 per square foot.
  • There was a slight drop in 2022 and 2021, each year going down by 1%.
  • Lastly, in 2020, property rates increased by 3%.

Types of Properties Available

Residential Apartments

• Apartment choices here vary, offering both for sale and to rent. You’ll find 2 BHK as well as 3 BHK.
• A good example: a 2 BHK unit available for about ₹71.5 lac. That one’s 1150 sqft and not furnished.
• Rentals: there’s a semi-furnished 3 BHK with rent coming in at ₹45,000 with maintenance costs at ₹5,000, plus a security deposit of ₹1.8 lakh for a 1350 sqft unit.

Residential Plots

• There are plots available in varying sizes. Take a 1920 sqft plot with dimensions of 60 X 32, on sale for around ₹2.67 crores.

Amenities and Infrastructure

• Schools and Hospitals: This area has many educational as well as medical institutions, creating a family-friendly environment.
• Furnishing and Facilities: Many rental properties here are fully or semi-furnished. You’ll find things like TV cabinets, beds, kitchen cabinets, and cupboards.

Preferred Tenants and Family Suitability

• Many properties in this locality specifically favor family tenants.

PropertyWala's Conclusion

Nilamangai Nagar in Adambakkam, Chennai shows off a nice mix of residential options. It comes with stable property rates coupled with great connectivity. This spot suits both families and individuals who want to reside or invest in a well-equipped area packed with the important amenities. Though property prices are rising, the solid infrastructure and choice of furnished, as well as semi-furnished properties, make it appealing for buyers and renters. However, doing a proper market analysis, and visiting the properties in person always helps in making a well-informed choice.