South Chennai houses and apartments to rent at lower rates than the last year rates. The report said
the renting houses and apartments finding a slump in the rates as the new apartments booming
up. The buyers find easy financial loans and installments that donâ€™t hurt them. Home loan rates are
reduced to the lowest levels possible as the builders and promoters contribute some discounts on the
property prices. The rates falls to the tune of Rs, 2,000 to Rs, 5,000 depending upon the area and the
amenities involved.Falling all India property prices also contributes the Chennai houses and apartments to rent rate fall.
Recently our finance minister advice the builders and the promoters to reduce the property prices
as the middle men can avail the property with the lowered bank interest rates. When the unsold
properties started finding new customers the rent rates will further fall to the new low. Builderâ€™s
acceptance to the finance ministerâ€™s advice shows the possible rate fall. The number of Chennai
houses and apartments to rent increased from the last year. This is also cited as the reason for the
fall in the rents in Chennai.The Tamil Nadu governmentâ€™s strong opposing stance on the retail business houses entry from the
foreign countries also a major reason for the fall. This is an advantage for the renters finding more
Chennai houses and apartments to rent in the prominent places with cheaper rents are a great relief
for the renters. If there is any change in the governmentâ€™s policy then the property values and the
rents will go up on a rocketing speed.