Chendamangalam and the Paliam Palace occupy important positions in the Muziris Heritage Project. At a time when coins with money value were yet to make their rounds, there functioned an exchange market at Chendamangalam in North Paravur. The market was resurrected in the village on 10 April 2013.
On the Paliam school ground, vendors gathered from different places to sell their wares. Things like pottery, mats, carpets, knives, toys, vegetables, fruits, fish, etc. were sold here. Earlier, these things used to arrive here through the waterways. Bartering system was practised and although the state of affairs has changed now, the market is still known as ‘exchange market’ or Mattachantha.