Hi Friends,
This is Prem. I am from Chennai. Currently I moved to USA for project based work and is assigned to work here for 2 years.
Since, I am in US now i will be able to save some good amount of money every month and I wish to invest the same in real estate by buying some apartment in chennai ( I dont have any property right now).
I need your advice in buying a new house. I will be able to save around 1-1.5 Lakhs per month and I want to know is there an option to buy an house by paying monthly Installment rather than taking a home loan. Since, I wil be coming back to india after a while, i am thinking of investing in this way.
But, I am not sure about the process currently followed there in market and also whether I will be able to get some housing loan since my indian salart is less ( Aroud 25k per month).
Please advice.