Have 40 thousand as your disposable income? Want to invest in Real Estate?

Most of us are in a dilemma when it comes to invest in a property, especially as we fret about the percentage of income that should be set aside for property investment.To do this, you need to sketch a plan stating clearly on how much of your disposable income can be invested in the properties in India.

Anuj is a Mechanical Engineer. He works for a multinational company as Manager-Sales. His cost to company including all benefits is Rs 6.8 lakh per annum and monthly take home is approximately Rs. 40,000. Earlier, he was living in a rented house in electronic city Bangalore. Recently he bought a ready to move in 2 bhk house for Rs. 27.5 lakh in electronic city itself.  He has got a home loan of Rs. 22.5 lakh for a tenure of 15 years and has to pay the EMI of Rs.24,900 . Anuj is now saving on the rent and is getting the tax benefits since he has the possession of the property.

If you have a disposable income of Rs. 40-50 thousand, you can very easily get a home loan of 20 to 30 lakh depending on the tenure you want to opt for. Any bank in India generally gives a home loan for 80% of the cost of the property and rest 20% is to be given as a down payment. Therefore, if you can arrange for a down payment of 5-8 lakh you can buy a property up to 30 lakh with no trouble.

Best of the CommonFloor articles to help you invest in Real Estate:

 

Property Buying:

Buying a house? Educate yourself about the real estate basics & concepts

Well, this article will help you to understand why it is so important for you to educate yourself in the real estate basics & concepts, rather than being completely dependent on the real estate agent or fall prey to frauds. This article will also help you to question the real estate agent to avoid any confusion.

Mistakes a New Home Buyer Makes

Missteps are common when dealing with something new. Property buying is no rocket science but since a huge amount of money is involved, one should take extra care since they can have serious consequences. This article discusses the common mistakes made by a first time home buyer.

20 Essentials of a First Time Home Buyer

Buying a house is almost like marriage. It costs money and time, is forever and you have to live with the choice you made whether you like it or not. For someone who is taking the plunge, there are a whole lot of ‘things-to-do’ before you sign the final agreement .

Under Construction Property versus Ready to Move in Property

Are you confused about buying an under construction apartment or ready to move in apartment? Here we have discussed the negatives and positives of both to help you.

Tips for buying a plot

Find a land, arrange for cash and invest. There; you own a plot. Hold on! It’s not all that simple; there are rights-wrongs and implementation procedures that need to be taken care off. The credibility of the real estate market is not so simple to understand. However, it definitely is not rocket science. This article discusses a few factors that you need to take care of before buying a plot, consider these points and consult a real estate professional to get the clear picture of procedures involved before buying a plot.

Buy Property to Rent-Out – A Good Investment

The increasing interest rate on home loans and the doubled capital value of property in cities has withheld people from buying property. Many people prefer to stay in rental properties. Property owners who own two or more property are taking the advantage of this situation and earning good monthly rental income. If you are planning to buy a property for renting them, following are useful tips for investing on buy to let property.

Second Home Is An Attractive Investment Option

Second home is extending good support and an attractive investment option for property buyers in India. This also becomes a good investment avenue, as the second home segment all over the country has appreciated astronomically in recent times. Real estate has long been considered a great long-term investment, and a second home is great way to get into the action.

Home loan:

Home loan interest rates of the major banks in India

Know major home loan banks and their interest rates

Scorecard: Your Home loan eligibility depends on your credit scorecard

Banks consider your scorecard or track record data from the credit bureau before granting you a home loan. This article will give a fair ideas about your eligibility criteria.

Home Loan: Tips to reduce interest rate burden

How many of us fret when thinking about the home loan amount we have to repay? Thia article will give you the required information on how one can reduce the burden of EMI.

 

Conflict Management:

Property Buying: How to Handle Delays in Project Completion

Though a genuine and credible developer will never do such immoral acts as, they have their reputation on stake with the successful completion of project. Still, a buyer is the one who is most vulnerable in the whole process. The article discusses about the suggestions and the measures a buyer can take safeguard his interest and avoid getting exploited.