After Reserve bank has cut the Cash Reserve Ratio (CRR) by 50 basis points in 2012, banks have started to drop interest rates. CRR is the proportion of deposits that banks must keep with the central bank
Depending on the bank, amount and tenure, the rates are between 10.75% to 12.75% on Floating interest and 11.75% to 13.75% on Fixed interest. Lower rates increases affordability for home buyers, the effect of which is increased home sales.
Wake up to the view of the ocean and muttukadu lake. This 3BHK home near Hindustan Engg. College makes living complete with modular kitchen, wardrobes, 4 A/C, Heaters, Lights, Fans, etc.
Other amenities include: Club room, gym, pool, park, tennis court, treated water & back up gen
Contact 9962612255 for a visit
I see many owners disappointed when they find out that their rent will not cover their mortgage. Real estate prices in Chennai has gone up so much that if you buy a home today, your rent will not cover your standard 70% mortgage.
For a 60 lakh flat on OMR, with a rent of 15k, the yield is within the 3 to 4% bracket, which pales in comparison to bank interest rate, but it is still decent for this asset class, when you account for asset growth.
Here is an opinion from Knight Frank India in The Economic Times stating typical yield on properties
A spacious new 3BHK, semi-furnished home is up for rent in L & T. This home has classy woodwork and fixtures including modular kitchen, wardrobes, A/C, lights, fan, 2 CCP, etc.
With a great school like PSBB and plenty of companies in walking distance, there is nothing much you can ask for.
Other highlights:
CCP, Lift, Backup Generator
Park, Kids play area, Club house & Swimming Pool
Departmental store within complex
To visit, call 9962612255
Prime minister Manmohan Singh has announced that NRIs will get a chance to vote in the national elections. The process on how to vote will be laid out soon.
Two more schemes have been enacted – The government will sponsor a new Pension and Life Insurance Fund for overseas Indian workers. This seems to be targeted for low income overseas workers
Again, the government has just announced these plans, stay tuned to find out how to register and benefit from these plans.
Reside at the best address in town – Kalakshetra colony, Besant nagar. This 4 bed/3bath home is very close to the beach, semi-independent and very spacious
Besant Nagar Indep Home
Key highlights of the property are
If you are interested, call us at 9962612255
RBI has freed the interest rate on NRE deposits, and banks are raising interest rates, offering 9% or more on a 1 year NRE deposit. This is great news as the rate of return is very much comparable to local deposits.
Note: NRE deposits get converted to rupees when it is deposited.
One of our client is selling his apartment in Sholinganallur. It is in an unbeatable location, walkable to Shonliganallur jn. and many IT companies.
Lancor Central Park West, Sholinganallur
Here is the property details…
- 3bed/3bath, 1750 SF
- Complete with Woodwork and A/Cs
- Gym, Pool, Club house, Kids play area
- 24hr security
- 2 CCP
- Cement road access
- Lancor Central Park West
If you are interested, call us at 9962612255
Here is a recent news item on The Hindu
Many such real estate transactions can be avoided byboth Buyer and Owner
Buyer – If the buyer is aware of all necessary documents that are needed to buy a land/property, then it is very difficult to trick a buyer. Many times a check on EC, Patta, A-register, FMB, original parent documents, linking docs, legal heirship, etc. will tell if the land belongs to the right owner. Unfortunately, in these fraud cases some times the buyer is also aware that the seller is not the rightful owner.
Owner – From a owners point of view, there are certain simple things you can do to protect such incidents, like monitoring your property frequently, safe guarding your docs, applying EC, etc. When fraudsters know that a property is taken care of, they will choose someone else property over yours.
Live close to work in SIPCOT, Siruseri and in walking distance to PSBB, the most sought after school on OMR.
This is a spacious new 2BHK with woodwork and fixtures including modular kitchen, wardrobes, pooja room, loft cabinets, lights, fan and an A/C
Other highlights:
CCP, Lift, Backup Generator
Park, Kids play area, Club house & Swimming Pool
Departmental store within complex
To visit, call 9962612255