Savings are very important in life but one should know how to secure his savings.
In today’s time every body is talking about affordable housing and investing in these property options, whether it is self use, renting purpose or the investment point of view, they are using there savings to buy these options.
Now I’m giving you a quick tip, how you can buy affordable housing free of cost, though initially you need to pay but end result is very handsome.
Kindly go thru below chart :
| Property Type | 2 BHK + SR | ||||
| Size | 745 Sq Ft | ||||
| Total Price | 26,30,000/- | ||||
| Amount to be paid by Client while Booking and Allotment | 263000 | ||||
| Loan Amount | 2367000 | ||||
| Interest Rate 8.7% for 20 Years | |||||
| Monthly EMI | 20841 | For 240 Months | 12000 | Monthly SIP | |
| Total Monthly EMI 32841
(Monthly EMI + Monthly SIP Investment) |
2880000 | Total SIP Investment | |||
| SIP Return 9% for 20 Years | |||||
| 8074752 | Total SIP Return | ||||
| Property Price | 2630000 | After 4 years Customer will get property Possession After 20 Years Customer will get ownership of 2 BHK + SR and Rs. 8074752 in his account and on the other hand think of property price after 20 YEARS |
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| Booking amount | 5% | 131500 | |||
| Allotment money | 5% | 131500 | |||
| Loan amount | 2367000 | ||||
| Interest in 20 years | 2635075 | ||||
| Total Amount Paid to Bank and Developer | 5265075 | ||||
| Total Investment on SIP | 2880000 | ||||
| Total Amount paid in 240 Months | 8145075 | ||||
| Total Return in 240 Months | 8074752 | ||||
| Actually paid by Client (Total Amount paid – Total Return) | 70323 | ||||
here is the chart for 1 bhk
| Property Type | 1 BHK | ||||
| Size | 400 Sq Ft | ||||
| Total Price | 14,25,000/- | ||||
| Amount to be paid by Client while Booking and Allotment | 142500 | ||||
| Loan Amount | 1282500 | ||||
| Interest Rate 8.7% for 20 Years | |||||
| Monthly EMI | 11292 | For 240 Months | 6500 | Monthly SIP | |
| Total Monthly EMI 17792
(Monthly EMI + Monthly SIP Investment) |
1560000 | Total SIP Investment | |||
| SIP Return 9% for 20 Years | |||||
| 4373824 | Total SIP Return | ||||
| Property Price | 1425000 | After 4 years Customer will get property Possession After 20 Years Customer will get ownership of 1 BHK and Rs. 4373824 in his account and on the other hand think of property price after 20 YEARS |
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| Booking amount | 5% | 71250 | |||
| Allotment money | 5% | 71250 | |||
| Loan amount | 1282500 | ||||
| Interest in 20 years | 1427750 | ||||
| Total Amount Paid to Bank and Developer | 2852750 | ||||
| Total Investment on SIP | 1560000 | ||||
| Total Amount paid in 240 Months | 4412750 | ||||
| Total Return in 240 Months | 4373824 | ||||
| Actually paid by Client (Total Amount paid – Total Return) | 38926 | ||||
NOTE:
- SIP means Systematic Investment Plan
- Now a days Govt. is also offering subsidy on loan so you can save extra 2.5 lacs on the same.
- Interest is calculated on current 8.7% rate for 20 years loan
- SIP is calculation on the conservative side as 9% is the lowest return on SIP highest was 44% in 2018 (top 20 SIP return of 2018 is attached)
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