Chennai Real Estate ... 
  Should I rent or buy a property in Chennai?
India Travel and Hotel Guide

Chennai Real Estate Calculator

Finding a Home In Chennai
If you plan to rent or buy a property in Chennai, finding your property will be a major step in your relocation to Chennai. If you have not lived in Chennai, you should rent rather than buy your property in Chennai, at least for six months. If you would like to rent or buy a real-estate property in Chennai you may email us at webmaster@india-travel-guide.de with your real-estate questions.


It is the best way to know not only if Chennai is the place you want to live or retire for the next few years, but also if Chennai is suited for you.

Apartments & Houses in Chennai
If you are planning on living in Chennai, it is likely that you will be living in an apartment/condo versus a house.

Please make sure that modern equipments, such as electricity and water should function to the maximum. Please double-check and make sure electrical outlets are located in every room and functioning.

Make sure you turn on the water and make sure that hot and cold water is functioning and flush the toilet, turn on the shower. Don’t count on real-estate agents in Chennai to point out the negatives of a place they’re trying to rent or sell you.

Chennai Agencies
Real-estate agencies in Chennai advertise in local Chennai newspapers and as well on their office windows.

You should be able to notice a real estate agency in Chennai by the window full of ads for the different apartments or houses they have available for rent or sell in Chennai.

Before you begin working with an agency in Chennai, check that their fees are acceptable and that they are a member of the Chennai Real-estate Assocation. In most rental agreements in Chennai most agencies charge a month’s rent for a twelve-month rental agreement.

When selling a property in Chennai, real-estate agents in Chennai usually charge between 2.5% and 3% of the final sales price.
Monthly rent Chennai:€
Monthly Chennai rental insurance:€
Expected annual inflation rate in Chennai:  %
Purchase price of property in Chennai:€
Down payment amount:€
Length of Chennai mortgage term (years):#
Chennai Mortgage's annual interest rate:  %
Discount points on purchase of home in Chennai:  %
Origination fees:  %
Other loan costs in Chennai:€
Mortgage Insurance (PMI):  %
Chennai Homeowner's insurance rate:  %
Monthly association dues in Chennai:€
Average monthly maintenance of Chennai property:€
Chennai Annual property tax:€
Chennai plus government income tax rate:  %
Interest rate you expect to earn on savings in Chennai:  %
Expected percentage your Chennai home will appreciate by each year:  %
Number of years you will stay in Chennai:#
Chennai Realtor commission rate:  %
Total estimated cost of renting a property in Chennai:€
Total estimated cost of buying a property in Chennai:€
After coming to an agreement on a rental or purchase, both parties in Chennai sign the contract. However, it is not a legal agreement until the appropriate seals of the city of Chennai with a tax stamp has been purchased and affixed to ther agreement. You have to make sure before finalising the lease or purchase that the official seal of Chennai will be affixed to the agreement.

Renting
Real estate agencies in Chennai are the safest way if you want to rent or buy a property in Chennai. Please make sure they are a licensed agent in Chennai and very familiar with the Chennai property market.

Local newspapers in Chennai also advertise apartments and houses for rent, but word of mouth is the best way in Chennai. If you are currently an academic in Chennai, you could check local at local universities in Chennai, where apartments or rooms for rent are commonly posted.

In general rental rates in Chennai, increase by a small percentage each year in accordance with the government’s annual cost of living reports in Chennai. You can find yearly leases in Chennai, and more short-term housing is available near academic institutes or around tourism areas within Chennai.

Short-term tourist housing in Chennai is fully furnished and most of the time fully equipped. If you have the budget, you could rent a serviced apartment in Chennai.

If you want to buy a property in Chennai, I would highly suggest you to have the property checked out by yourself and hire a lawyer in Chennai to check how much debts the property has currently registered and if those numbers matched with the seller of the property in Chennai.

If you are buying a brand new property, you’ll need to pay property tax in Chennai. If your purchase is a luxury property, you may have to pay local taxes in Chennai and possible stamp duty.

Even as a non-resident homeowner in Chennai, you may become liable for all kind of taxes in Chennai, including income tax.

Chennai Mortgages
If you plan to take a mortgage in Chennai you need at least a 20% downpayment of the purchase price of the property in Chennai. Even if you generate rental-income from renting your Chennai property out, it is not considered by most lenders as you may decide to move in, at a later time.

The Chennai Real Estate calculator will help you to compare the costs of renting a house or condo in Chennai to the costs of buying a house or condo in Chennai. Since there are all kinds of forces at work behind the scenes such as the current interest in Chennai, Chennai property taxes, tax savings, appreciation in general to investments in Chennai, comparing the cost of renting to the cost of buying in Chennai is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment.

The Chennai Calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision before buying or renting a property in Chennai.

Help Buttons: For pop-up explanations of any of the entry fields, click the radio button next to the description.

NOTE: Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that only numbers and decimal points are entered into the fields.

Property Types in Chennai

  • Chennai Multi-Family
    Traditional, multi-family residential complexes located in Chennai and suburban markets of Chennai.


  • Chennai Mixed-Use
    Properties in Chennai that integrate and combine residential with different uses, including retail and office spaces.

  • Chennai Office
    Traditional office or office type properties in Chennai.


  • Chennai Retail
    Properties in Chennai with a mix of tenants that meet the convenience needs of neighborhood residents, including video stores, grocery, and financial services companies within Chennai.


  • Chennai Light Industrial
    Single- or multi-tenanted spaces in Chennai used for warehouse, manufacturing, distribution, or research and development in Chennai.

New Delhi Real Estate - Goa Real Estate - Bombay Real Estate - Agra Real Estate - Uttar Pradesh Real Estate - Jaipur Real Estate - Pune Real Estate - Kerala Real Estate - Madras Real Estate - Mumbai Real Estate - Port Blair Real Estate - Ahmedabad Real Estate - Chennai Real Estate - Bangalore Real Estate - Amritsar Real Estate - Lucknow Real Estate - Bhopal Real Estate - Udaipur Real Estate - Cochin Real Estate - Calcutta Real Estate

(C)opyright 2005 ~ 2006 - www.india-travel-guide.de, All Rights reserved. Please email me your feedback to webmaster@india-travel-guide.de