With rental values moving upwards in main localities of Mumbai as well as Navi Mumbai and Thane, a modern day home seeker is paying rent which will be equivalent to monthly EMIs. With lending rates decreasing buyers are more open for real estate investment. This is evident from queries received on Open House, the discussion forum on Magicbricks. Some of these queries are: -
“I want to buy a property having an installment of Rs 35k near Mumbai, either in Vashi or Navi Mumbai,” asks Kishore Awasthy, one of the local businessmen based in Mumbai
“Can I get a 2-3 BHK flat in Mumbai (Mira Road) with an EMI of Rs 35,000-40,000 with 80 per cent loan,” asks Tushee Shah, a software engineer.
Before looking for properties that are affordable for a monthly EMI of Rs 35,000, here are some basics you need to understand-
How is EMI calculated?
EMI or Equated Monthly Installment is a component which consists of both the interest & the principal amount. It is calculated on the following parameters:
- Loan amount
- Tenure of loan
- Interest rate
You can reduce your EMIs by increasing the loan tenure. However, this will result in increment in the interest amount to be paid to the bank and liability for a longer duration.
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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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