Need help in making a decision between I-131 + N-470 vs N-400

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I received my green card on June 4,2007 and so far I have been out of the country thrice. Details of the trip are 1. From Oct 21,2007 to Nov 28,2007(39 days), 2. from May 19,2010 to Jul 10,2010(52 days) and 3. From Oct 7,2011 to Nov 19,2011(44 days).

I got an offer from an US firm to work in India and they want me to join by Feb 1,2012(at the most by Feb 15,2012). I will be eligible to apply for citizenship by Mar 6,2012. I am in a dilemma whether to apply for N-470 and I-131 or to apply for N-400 and leave.

My family has already moved to India sometime back. If I apply for N-470, will I be able to come back after an year and apply straightaway for citizenship. I currently live in a rental property and I am planning to vacate the property when i leave.

option 2:
I am planning to ask my employer if I can join by April 1. If my employer agrees for an extesnion, will I be able to apply for N-400 by March 6 and get the FP done by end of March. If that works I am planning to come back one more time to do the interview,oath and obtain PIO/OCI.

I prefer option 1 since i am not sure how feasible is option 2. Please let me know your thoughts.

Appreciate u'r help
 
My family has already moved to India sometime back.
By "family" do you mean your spouse and children? If yes, your family moving outside the US would make it more difficult for your N-400 to be approved if you work abroad without an N-470. Note that the N-470 would also cover them, if they have green cards.

If I apply for N-470, will I be able to come back after an year and apply straightaway for citizenship. I currently live in a rental property and I am planning to vacate the property when i leave.
An approved N-470 would preserve your continuous residence while it's valid and you're working abroad for the specified employer.

I am planning to ask my employer if I can join by April 1. If my employer agrees for an extesnion, will I be able to apply for N-400 by March 6 and get the FP done by end of March. If that works I am planning to come back one more time to do the interview,oath and obtain PIO/OCI.
For naturalization you are required to maintain continuous residence all the way until the oath. If you have extended absences and employment abroad during the naturalization process, you'll have a high risk of being denied unless you have an approved N-470.
 
Thanks for your suggestions. In N-470 for the question 4 "Explain the position of employment that requires your absence from the United States and the intended length of employment". What will be the appropriate thing to state and also if I tell them that the intended length of employment is 2 year will they be asking for a letter from my employer which specifically states that the assignment is for 2 years.
 
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