The Mananchira tank, around which the square is built, has a rich history dating back to the Zamorin rulers of Kozhikode. Originally a laterite quarry, it was later converted into a tank for drinking water. The name 'Mananchira' is believed to be derived from 'Mana Vikraman Chira', honoring a Zamorin ruler. Over the centuries, the tank served as a vital water source for the city. In the 1990s, the area surrounding the tank was redeveloped into the present-day Mananchira Square. The project aimed to create a public space that preserved the historical significance of the tank while providing recreational facilities for the city's residents. The transformation revitalized the area and turned it into a popular landmark.