Tuesday, 17 January 2012

'Early Investment'

If you are bachelor and living in Pune and earning handsome salary (It would be cherry on the cake if you are in IT sector); then don't wait for the ball to come into your play. Instead grab the opportunity with both hands and buy a 1 BHK/ 1HK flat.

To give insight of what I am referring let me cite an example. A HK flat in prime locality like Vimanagar costs around 18 Lacs. Considering 80% loan, a person can get loan of 14.5 lacs with EMI of 15k. Only challenge is 3-4 lacs which the young generation can make arrangement (as they say jugaad).
The flat can earn whopping rent of around 10K (yes its true ten thousand) per month; leaving the person to add only 4-5k from his pocket.The bonus is Income Tax exempt you will get for Principal and Interest. Thus you can have the cake and eat it too!!

The scenario may be different from person to person but key here is 'Early Investment'!!

3 comments:

  1. Good idea! We need cheap rental housing in Pune. Guys, insist on 3 years rent lease agreement with nominal increase in the rent every year for this type of a investment property. Bonus is...you know how to take maximum mileage at less cost!

    ReplyDelete
    Replies
    1. Thanks Ravi for your generous response!

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  2. Nice Idea... bt i think the time has change now .... the flat rates are so high that u can not even manage the initial 20%.

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