In this work we report synthesis and characterization of hydrogenated nanocrystalline silicon (nc-Si:H) thin films by plasma chemical vapor deposition (P-CVD) method at 200 0C on glass substrates. Film properties are carefully and systematically investigated as a function of argon (Ar) flow rate. Characterization of these films with Raman spectroscopy revealed that the addition of Ar into SiH4-H2 plasma endorses the growth of crystallinity in the films. The Fourier transform infrared (FTIR) spectroscopic analysis showed that with increasing Ar flow rate the hydrogen bonding in the films shifts from mono-hydride (Si-H) to di-hydride (Si-H2) and (Si-H2)n complexes. The hydrogen content in the films was found < 7 at. % over the entire range of studied Ar flow rate. The band gap of nc-Si:H films was found to be higher than hydrogenated amorphous silicon (a-Si:H) films (> 2 eV). The nc-Si:H films with dark conductivity 1.3x10-7 S/cm having deposition rate as high as 2.5 Å/s and of crystalline fraction 98 % have been obtained.