Nanmangalam realty update
Nanmangalam is located in the southern periphery of Chennai. With a small population of about 3323 it is developing into a profitable market for real estate. Ambattur, Avadi and Thiruvottiyur are the other region located around Nanmangalam
Connectivity:
The micro market is connected by East coast road and Grand southern trunk road. The nearest Sub-urban railway station is at the distance of 7 km at Chrompet. It is 29km away from Chennai Central and 22 km away from Chennai Egmore. It is 11 km from Meenampakkam international airport.
Public Transport:
The Kovilbakkam bus station is 2km away from this Nanmangalam. The bus services from this bus stand helps the region to stay well connected with the whole city.
Infrastructure:
The Tagore matriculation school is located in this micro market. The Emas restaurant and Hawas restaurant are the two main restaurants here and the Phoenix market city is located 8km away in Velacherry. The SBI bank has one of its branch.
Real Estate:
The rate of per sq. Ft which was Rs. 2800 on Jan 2010 has climbed to Rs. 4900 in July 2013. Residential demand is high in this region. It experiencing an upward trend. An apartment of 800-1100 sq. Ft is around 35 lakhs to 50 lakhs which is cheaper compared to Velacherry. Rental value of a 2BHK apartment is ten to fifteen thousand and 3 BHK apartment is around fifteen to eighteen thousand.
Price Trends:
The rate per sq. Ft which was Rs. 2800 on Jan 2010 has climbed to Rs. 4900 in July 2013 which is a 73% increase in the last 3 years. The realty in Nanmangalam has registered a growth of 70% in 3 years. A 1000 sq. Ft multistorey apartment which was 28-30 lakhs in March 2010 has increased to 50 lakhs in July 2013, a 70 % capital increase. The minimum price per sq. Ft is Rs. 3500 and maximum price per sq. Ft is 4300. It has seen 8% price appreciation.
Reader’s Take:
The micro market has no water shortage compared to other micro markets in Chennai due to the presence of Nangamangalam lake. Its brewing as a realty center due to the high residential demand. There has been a continuous price appreciation in the last 3 years. Investing in this place could make a real profitable investment.
