Why this is the best time for NRI’s to buy a home in Chennai?

The depreciation of more than 25 per cent in the past eight months makes the rupee’s value fell from Rs 44 against one dollar in August 2011 to Rs 56.24 by May 31, 2012.

A non-resident Indian (NRI) will now get at least Rs 10,000 more for every 1000 us dollars they are spending in India than 2011.  And if anyone had doubts about Chennai being a boom city, the National housing Bank’s   Residex index, which has been tracking home prices in different parts of the country since 2007, puts them to rest as the home price index for Chennai leapt up 39.5per cent in the last quarter

Real estate projects catering to upper middle class and luxury apartments and villas are available in plenty at the market.

This is a great opportunity to generate new investment opportunities in Chennai.

Advantages of buying an under construction home in Chennai

Buying an under construction home is a win-win situation for both buyer and seller. The seller gets a list of customers even before he starts laying the foundation while buyers get the cost benefit as they are buying the house in a pre-launch offer.

Buying an under-construction home is cheaper than buying the ready to move home in chennai. The cost difference is significant. On an average, the difference is anywhere between 25% and 40%. This is a big difference and that makes the majority of the home buyers in Chennai to buy a home under construction.

The EMI is paid as the work progresses hence the initial EMIs are low in the case of an under construction home in Chennai.

If there are any minor changes that you want in your home, it is possible (this depends with the builders in Chennai)

The home buyers may get higher returns on the under-construction home, since the prices are lower, This kind of return is not possible in a ready to move home in chennai.