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  • Category: Finance and Investments

    Want a house on lease in Bangalore.

    Planning to rent out a house on lease? Looking out avenues for financial support for rent the house? No worries, check out he advice provided by financial experts here and decide what to plan ahead.

    I want a house on lease in Bangalore. How do I get 1500000 Rs.? Currently I am paying rent 16000 Rs. What are my loan options . Let me know if there is any other option. My salary is 30000 Rs. Please help. I want to 1500000 rupees. If you have any other suggestion do respond.
  • Answers

    1 Answers found.
  • It is not very clear whether you want to purchase a house on monthly instalments or in one go. I am assuming that you want to buy a house on monthly payments.

    There are many housing schemes which offer houses on monthly EMI option. They also ask some initial payment and balance can be paid in easy instalments.

    You may have to go for bank loan to fund it partially and remaining can be paid by you through monthly instalments.

    You have to see your financial position before taking up this house purchasing option as you have to repay the loan amount and also monthly instalment for a long time.

    Depending upon your finances you can decide for a type of house. The minimum accommodation house that is 1BHK will be available in Bangalore for at least an amount of Rs 40-50 lakh. That is the starting level.

    For your reference, please note that you will require about Rs 20000 per month to repay a loan of Rs 1500000 at 10% interest in 120 months (10 years). Then you will have to shell out additional amount for EMI pertaining to remaining price of the house.

    Keeping all the above aspects in mind you can plan your purchase of house.

    Knowledge is power.

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