Best answer: How can I buy an apartment in Chennai?

How can I buy a flat in Chennai?

To help you with the process, here is a guide for buying flats in Chennai:

  1. Find the Perfect Property. …
  2. Do a Background Check. …
  3. Know the Payment Plan. …
  4. Apply for loan. …
  5. Get the Allotment letter. …
  6. Sale Agreement. …
  7. Possession and Registration.

Which is the best place to buy apartment in Chennai?

Top 5 locations to buy property in Chennai

  • OMR. Being one of the most readily developing locations, today Old Mahabalipuram Road offers maximum ready-to-move-in properties. …
  • Velachery and Medavakkam. …
  • Guduvancheri. …
  • Porur.

How much does a house cost in Chennai?

Here are prices of some properties in price bands of below Rs50 lakh, Rs50-75 lakh, and above Rs75 lakh.

Is apartment worth buying?

It is always considered a better option to buy an apartment than buying land or an independent house, as it is safer and present way more opportunities. Especially, at this market condition and in the year 2020, it proves to be beneficial for home buyers and investors when they purchase a cozy apartment in Bangalore.

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Is it worth buying 20 year old flat in Chennai?

By the end of 20 years you would end up paying 1 crore Rs for an apartment which is not worth it. Since the appreciation is low for apartments it wont worth 1 crore. Hence forget the apartment idea for investment sake. The only advantage is you get a tax benefit for 2.5 lakhs pa.

How much does it cost to buy a flat in Chennai?

Property Rates & Price Trends in Chennai – 2020

Locality Name Buy Rates
Price range per sqft Price rise
Medavakkam 560 – 6,820 / sqft -16%
Porur 2,375 – 10,832 / sqft 32.9%
Madipakkam 3,600 – 11,079 / sqft 31.5%

Which area is best to buy property in Chennai?

2021: Best Places for Real Estate Investment in Chennai

  • Chengalpattu. Chengalpattu is a dream location for homebuyers in Chennai. …
  • Avadi. …
  • Korattur. …
  • Anna Nagar. …
  • Tiruvallur. …
  • ENDNOTE.

Which area in Chennai is developing fast?

Pallikaranai

One of the fastest growing residential areas in India, Pallikaranai is a hot favourite destination for investors. Located in South Chennai, the locality is in close proximity to the OMR (Old Mahabalipuram Road), which is one of Chennai’s biggest IT/ITeS corridors.

Which area is best to buy plot in Chennai?

Top three localities to invest in Chennai for quicker ROI

  • Thoraipakkam. Fondly known as Okkiyam Thuraipakkam or Oggi Madurai Pakkam, Thoraipakkam offers a higher standard of living. …
  • East Coast Road. …
  • Kelambakkam.

Is it good to buy house in Chennai?

BUYING A HOME IS A GOOD INVESTMENT

The value of real estate in Chennai and in most other parts of the world increases overtime, because land gets scarcer, so this means when you buy property in Chennai today, its value is likely to be worth a lot more in the future, than it was when you purchased it.

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What is the price of 1 square feet?

What’s The Average Price Per Square Foot? The average price per square foot of a home is the cost or current market value of a home divided by the square footage of the home. According to recent data, the average price per square foot in the U.S. is $123, but this number varies widely.

What is the price of land in Chennai?

Property Rates & Price Trends in Chennai

Locality Name Buy Rates Rental Rates
Price Range (Rs. per sq. ft.) 2 Bedroom
Mugalivakkam Rs. 4,888 – 5,270/sq. ft. Rs. 11,591 – 14,266
Pennalur Rs. 2,678 – 3,272/sq. ft.
Poonamallee Rs. 3,570 – 4,335/sq. ft. Rs. 8,629 – 11,506
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