Can we get 1 crore home loan?
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Can we get 1 crore home loan?
Bajaj Finserv offers high-value Home Loans up to Rs. 3.5 crore, using which you can become a homeowner without compromise or delay. Further, you benefit from a flexible tenor spanning up to 240 months and to manage your EMIs with ease.
What is the EMI for 1 crore home loan Quora?
At the current interest rates, here’s the EMI for various banks: Now, beware, that 1 crore house also has a high maintainence. I would say Rs. 5000 to 10,000 per month is a very conservative estimate.
How much housing loan can I get on my salary?
Hence, your salary will become Rs. 49,000 if you deduct these two from it. Now, the home loan amount you will be eligible for is Rs. 29.4 Lakh….How much home loan can I get on my salary?
| Net Monthly income | Home Loan Amount |
|---|---|
| Rs.25,000 | Rs.18,64,338 |
| Rs.30,000 | Rs.22,37,206 |
| Rs.40,000 | Rs.29,82,941 |
| Rs.50,000 | Rs.37,28,676 |
What is EMI of loan of 1 crore?
Rs 1 crore home loan EMI for 15 years at interest rate of 8.5\% has a monthly EMI of Rs 98,474. This means that the total interest paid is Rs 77 lac during the full loan tenure without any prepayments. Rs 1 crore home loan EMI for 10 years at interest rate of 8.5\% has a monthly EMI of Rs 1.23 lakh.
How much housing loan can I get on 90000 salary?
55,000, you will be eligible for a loan of approximately Rs 33 lakhs….How to calculate your home loan eligibility?
| Net Monthly Income (Rs.) | Home Loan Amount (Rs.) |
|---|---|
| 70,000 | 54,81,756 |
| 80,000 | 63,20,142 |
| 90,000 | 71,58,529 |
How much EMI is required to buy a 2 crore house?
Normally banks would consider 50\% of your take home salary as EMI payment capacity (provided you do not have any other loans), for loan eligibility. Approximate EMI generally is Rs.1,000 per 1 Lakh of loan amount. Your current salary makes you eligible for loan amount of approximately 90 Lakhs. So you can purchase 2 Cr worth house:
Can I buy a 2 crore house on a salary?
So you can purchase 2 Cr worth house: Or if your own contribition for the purchase is approximately 1.1 Cr. Simply less do the math. 2cr for 30 yrs with interest rate of 10\%.EMI comes to be 1.75515lakh. Which is around 5k more than your present salary. So we can conclude at present you cant buy.
Why do people buy a flat worth more than 1 crore?
Appreciations : People invest in real estate and if flat worth more than 1 crore looks promising by investment point of view than there is nothing wrong. Status Symbol :- Some people think that buying an expensive flat with lots of amenities gives them good status in society that is why they buy flat worth more than 1 crore.
Why is it not acceptable to buy a 1 crore apartment?
Because the value for money for that product is not acceptable. While host of other factors may be at play, this is one way to look at when considering a property purchase. If one has 4–5Cr of networth, then one can buy 1 Cr apartment (~20–25\% of networth).