OMR is Spurting With Property Perks

If you are an end user and searching to own a property along the Old Mahabalipuram Road (OMR) also known as IT corridor then keep opening your eyes and ears to attain most  profitable deals.  More than 80% of buyers and investors in Chennai have a preference of buying flats for sale in OMR which is the home of the IT hubs so as to attain huge returns on investment, publicized a review conducted by property portals. Chennai city experiences a similar trend with the OMR remaining to be the desired regions for purchasing and selling the flats for sale in OMR Road Chennai properties, in the past one year.

Supply of Residential Units

Currently, the generally available deals on OMR are the 20:80 arrangements, the pre-EMI patterns, free car parks, affordable property prices in OMR, free club associations and the many other proposals offering free home appliances, modular kitchens and clothing. With the locality fronting an over-supply of residential units and therefore quiet apartment prices in OMR, numerous property developers are resorting to concessions and bargains to appeal the real estate purchasers. In accordance with the 20:80 schemes, the purchasers are responsible to pay only 20% of the original rate as booking charges and remaining flat rates in OMR are to be paid once the occupancy of the property. This scheme not only provides enough time to the customers to arrange for the total cost, but also avoids a more amount being bunged in an investment. The scheme also permits the buyer to pay only the interest rate till the ownership of the property, leaving the actual principal apartment prices in OMR for the future.

As per Prop Index, the periodical report by property portal, flats in Velachery for sale swapped OMR in the Jan-Mar 2014 quarter and captured the place of the maximum preferred region. Throughout the Oct-Dec 2013 quarter, flats for sale in OMR were the utmost popular. Nowadays, OMR is one of the budding residential destinations because of the availability of various ready-to-move-in within reasonable property prices in OMR and many under-construction properties. Moreover, the enhanced public infrastructure is fascinating home buyers in huge numbers to localities around OMR.

Livability

OMR also brag of all the basic facilities which are essential for an end user. People can also enjoy the luxury of possessing a 3BHK unit of 1300 sq. ft. at the flat rates in OMR of just Rs. 30 lakh! Purchasers nowadays are conscious of the market. An advantage of Rs. 10-15 lakh in a property value Rs. 70-80 lakh might not sound most profitable to them. Almost 60% of homebuyers on OMR are looking for the high appreciation on apartment prices in OMR.

Buyer’s Take

Since OMR also is acquiring huge profits on investment with the annual appreciation of 20 %. This would be the right option for the people who are seeking for the lucrative deals.