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- Originally Posted by sunnybsiteHi
I need some advise in investing 30Lakh in home in Bangalore. I am not clear if I will be able to do it , I need some guidance and advise. I am thinking of below options,
Option1: Take a flat of 45L with a loan of 15L.
Option2: Take a plot of 1200Sqft for 30L and make a loan for construction approx 25L.
But need to pay for the rent as no home in Banglore until home construction and repay home loan of around 25L.
Option3: Take 2 plots as investment of 15L each and later sell and make a home. But need to pay for the rent as no home in Bangalore.
I am thinking of going with the Option1 as I will have a home and needn't pay any rent. I need some advise as on which options will be more beneficial or lessen the financial burden on me in uncertain economy.
buy land - nothing can be better than this from any angle
25L is a lot of money for house construction.and you can make a lavish house in that money.
it takes just 6 months for a house to be constructed.so u hv to pay rent for only 6 months - so even 10k a month its just over half a lakh.may be you can take up PG for some time.adjust for 6 months .
once the house is ready move in.simple
btw- now it depends how you want to use your 30L.you get sites for 15L also.so its the location that matters.in the city i doubt you can get anything 30L.but then impossible is nothing ) .you can get lucky you never know .so be sharp and i am sure you would do well.it seems like you have the age on your side- so make good use of it.dont jump the gun real quick.let us knw how you are traveling on this. all the very best.CommentQuote1Flag