If you are searching to buy properties along the Old Mahabalipuram Road (OMR) in Chennai, keep opening your eyes and ears to get the apartments for sale in OMR which is the most profitable investments doing the rounds. With the locality facing an over-supply of residential properties and thus quiet property prices in OMR, various real estate builders are resorting to concessions and offers to fascinate the property purchasers.
Residential Developments in OMR:
Currently, the most frequently available contracts on OMR is the 20:80 patterns, the pre-EMI schemes, car parks and the other proposals providing in the flats for sale in OMR Road Chennai are electrical appliances, modular kitchenettes and wardrobes.
The residential projects providing discounts and proposals recorded greatest sales nowadays. 20:80 patterns and pre-EMI schemes are the maximum prevalent as they benefit in useful pay packages for buyers of apartments for sale in OMR. According to the 20:80 schemes, the home purchasers are legally responsible to pay only 20 % of the entire price as booking costs and remaining have to be paid afterward the possession of the home. It improves the availability of more number of OMR properties for sale. This not only provides time for the purchasers to arrange the whole amount, but also prevents huge money being jammed in an investment.
The pre-EMI system permits the property purchaser to pay only the interest amount till the ownership of the property, paying the principal amount for the future. Besides, the developers here are offering affordable flats prices in OMR. While this 20:8 schemes enhance to the accessibility of paying and are thus significantly significant for home buyers, the other schemes could or could not be important enough.
Property Rates and Trends in OMR:
OMR road is one of the most prominent areas in Chennai. The property prices in OMR have witnessed upward swing. The rate per square feet was at Rs. 3813 in the year end of 2012. Then, in the next year of 2013 the property rates are increased to Rs. 3843 per sq. ft. At present, the price rates are remains constant. Hence it is Rs. 3843 for the first quarter of 2014.
Property Rates and Trends in OMR:
OMR road is one of the most prominent areas in Chennai. The property prices in OMR have witnessed upward swing. The rate per square feet was at Rs. 3813 in the year end of 2012. Then, in the next year of 2013 the property rates are increased to Rs. 3843 per sq. ft. At present, the price rates are remains constant. Hence it is Rs. 3843 for the first quarter of 2014.
Infrastructure:
OMR is also called as IT corridor. It is the home place for many renowned BPO and IT/ITES concerns. The most prominent It corporations such as Satyam Computer Services, TCS, Wipro, Infosys, Polaris, CTS, Accenture and a lot more are placed along the OMR. To reside close to the IT companies in OMR, Some of the IT people are seeking for a home at Velachery apartments for sale. Besides, OMR boasts more number of educational institutions like Sathyabhama University, Thangavelu Engineering College, etc.
Reader’s Take:
Builders resort to freebies to market and vend their flats for sale in OMR Road Chennai. Purchasers until now must negotiate on the base price instead of falling for benefits. It is very easy to bargain in a place when there are numerous unsold properties in the market. Since OMR also is gushing with an over-supply of residential units, you could strike a double offer of suitable payment pattern on the bargained price.
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