50000 monthly 12% Equity me invest kare aur salana 5% savings baraye to 5 years me ban jate hai. :-) Jo 100000 kamate hai india me 5 saal me 1 crore ka ghar le sakte hai.
Put that 40 lacs in fd for 3 4 yrs then I will creat some 15lac, later use that money to buy flat, that flat will appreciate by some 10 15 lacs in 3 yrs, later u can take loan and pay emi from 40 lacs fd with monthly returns it will ease ur emi amount.. correct me if I am wrong and need new ideas to buy a flat without munch burden of emi😮
@@abhishekvaraganti4038 Using FD interest to pay EMI is a good idea, If you have more than 50-60% of the loan amount in FD, also depends on the rate at which you get Home Loan and can book Fixed Deposits, Small Finance Banks will give FD rates of 8-9 % for normal and senior citizen. Home Loan rates for salaried customer is around 8-9% as well. But the issue is with appreciation, do not count on your flat increasing value by 5% every year, some places it happens, others it doesn't, very hard to follow and predict, i know places that have the same rate for 8 years, i know places that have doubled in 8 years, same city. So it is not advisable to buy, for appreciation, buy for use, appreciation should only be a secondary bonus. And finally, buy only for your present requirement, i see the mistake of young couples, or bachelors buying 3bhk for their eventual 5 person family, not a smart thing to do as many things change over the years and requirements will be different. So buy a smaller manageable place initially with majority portion saved money. Then if you are successful in making money you can look to upgrade 5-6 yrs down the line.
And the government is pushing for 5 trillion economy blindly buying big cars which will depreciate.The media at fault showing all these going around swanky cars and and flats.
dont fall in loan trap guys 1 cr flat not worth even your salary is 1.4 lakhs per month. property prices are on high rockets 🚀 🚀 and specially if you are in pvt job then there is no job security, only I will suggest if your partner is also earning same amount as you earning then you can take risk, else make fds invest in gold not in jwellery, that money will surely help you in bad time.
My friend is in this trap and making exactly 1.4 together and paying 80k emi for a flat he bought for 1.8cr..and i can say his life isnt as good as it once was.
My opinion is different. Buy a 1 CR flat when you have 2 CR savings or assets and income of 1.5 lakhs per month. And take loan of 30-40 Lakhs for tax saving purpose and for property verification.
Very easy to understand very good advise! specially for young people falling for developer's sales representative who buzz around you with their fabulous product display.
Even after time-wise correction, home-EMIs are still 3-5 times rent in Indian cities. When investing in any asset-class it is said, 'Bhaav is Bhagwan' i.e Price is everything, but for home, emotions get priority over price, so most of saving is locked in EMI which I feel shouldn't be more than 33% of net-income. Majority of buyers may not have seen bad-times, so keep some savings for it, coz survival of family is more important than house which you can anyway get on rent.
Krish sir, Aap upfront bol dijiye ki 1.5 lakhs per month is case me take home salary hein. For that, one need a minimum package of 24-28 LPA gross. And, usually jinka 1 cr ka home loan hota hein unka car loan bhi hotaa hein, mutlub easily month ka net 1 to 1.10 lakh trapped ho gya. Sir, layoffs of middle managers in the private sector companies are a real threat. When I lost my job last year, it took me 5 months to find a decent job. I'm grateful that I was debt-free, which helped me get through that tough time.
Also one point need to understand if your are living in 1xr flat then most probably you are surrounded by a upper rich middle class and you have to cope up with their standard including your kids education, schools are also with their standard and over the time it will burdensome to you.
One more piece of advice. Most people will inherit some sort of house or property at some point. Instead of insisting on a new house or apartment, it would make a lot of sense to invest half that amount to renovate your inherited property and live on rent in the interim. The conditioning that everyone needs to own their own home is problematic
- Plan buying a flat before 5-10years. - Start accumulating money early. - make 40-50% down payment. - save in FD, RD, Gold and some % in low risk funds. - Increase EMI every year by 10% and pay 2-3 EMI as prepayment every year. Your loan will be finished in 9-11 years only.
@@sudheerkumar4886Yes it is. Rent appreciation will boom every decade. Only the super rich can afford to live in a rented house, others eventually can't.
@@sudheerkumar4886 food, clothes and shelter are the basic needs but nowadays in capitalist system, human being are using foods, clothes and shelter as show off to society and satisfaction of ego . Due to this show-off mindset basic needs of food, clothes and shelter priceses have skyrocketing as average human being can't even afford. We live in a dump consumerist system.
I became CA back in 2020 and we take a lot of pride running assumptions on excel building different scenarios. Your logic and experience is a gold mine for us. Thank you for sharing this sir.😃
True middle class never buy under construction flat.You will have heart attack family fights marriage pribloms you cannot enjoy life specially working in private sector government should be strict in giving loans. Should be a counselor in the bank for the clients whether he can really pay the loans.
Jay maharashtra.. changl bolalat tumhi sir.. wedyasarkh loan gheun lok shewti sucide karun ghetat..financial education must for everyone..keep on educating sir..😊
2017 ka case hai Sir mera xrbia main neral main 340000 rs builder nhi de rha hai sir...or mera sign bhi hai uss document p jo ki refundable nhi hai...sir pls koi option batayein
Under construction is the best option if you do your due diligence since you can avail upto 18 to 24 months morotorium period. You can even prepay emi in advance which can reduce your total tenure. With proper planning, you can close a 30 yr loan in 4 to 5 years for a 1cr flat. I am assuming both husband & wife are working and one of them earns atleast 25 lakhs per annum
If you keep accumulating 40LAC...mean time flat prices going up.....later you need 60LAC down payment. Latest flats will have better amenities compared to old flat....
India has seen a lot of inflation . 1 crore for property is not cheap. Equivalent rent 80000 rs is high for middle class. My guess Inflation in wages . This will pressure US companies to raise prices in USA. Therefore translating into sustainable Inflation for long time. Globalization is backfiring on USA.
Emi cant increase by 10-12k pm. It increases by few hundred rupees if you are talking about a loan of 80 lacs. If you are talking about 10-15 cr flat, then its possible
That means other family members are as good as dead , useless. Purchasing a flat especially in Mumbai is not possible for only one working person, definitely financial support will require otherwise this task is impossible for a common ordinary person.
My personal experience if you have low downpayment then please buy flat in range of 60-70 lac so that the emi is just above the current rent of the flat . Or else go for resale property 2-3 km away from city. Rather paying 80k emi I will suggest pay 40k emi and 40k SIP every month
Very true. I paid down-payment 34 lakhs paid apprx 6.5 lakhs for registry to buy flat of 97 lakhs. Accurate info. Loan tenure 19 years. Loan emi amount should not be more than 30 percent of your salary is perfect Rule.
Sir minimum Rs 2.1 lakh take home salary needed and Rs 50 lakhs cash needed. All 50 lakh should not be used for down payment. One needs 2 years expenses in liquid assets in case one looses a job or have to work with reduced salary.
bohot badiya krish bohot log planning karte hi nahi aur kare to dimag mein rough plan karte hai. several parameters are critical which nobody thinks of like ones health dependants health can suddenly go bad, what if earning member dies, what if you lose job, what if you dont get that high paying job you will have to settle with whatever is offered, if you met with accident and you are handicapped so on so forth many possibilities. Plan A fail ho to Plan B Plan C ready hona chahiye You should have 2nd earning 3rd 4th 5th diversified earning ho to behtar hoga it will keep supporting you and your plan in adversities. I may sound negative but that is how unpredictive life is because things may appear to be in our control but nothing is.
Great advice everyone must consider this before getting into long term financial commitment. 18 & 30 years is a huge time period a lot happens between this phase of life. Predicting finances for 30 years is not at all easy. Just to add take less money for long periods so your emi is less and then try to finish it off as soon as possible. To all loan takers once you take a loan trust me you will be tired of repaying for next 18 or 30 years. Also if the repo rates or the interest rates increase then you will suffer even more. No matter what happens paisa toh dena padega. Use loan to grow in life not to degrade your life keep the risk low. Don’t let this affect yours and your families mental peace 🙏🏽😇
Flat is NOT always an appreciating asset, unlike land. Once the maintenance increases and if the location is not great, selling off is not easy. All these should be considered while buying it. Better to stay on rent until one got the balance to clear off the loan anytime he wishes. Taking loan should be just for the sake of getting some tax benefit, but equivalent cash should be there in savings account to clear off loan anytime. I have seen people losing job while paying emi. They are not able to sell off due to lack of demand for old flats and also unable to find a tenant.
Sir aaj ki date main 1 lakh par month wala bhi 1 crore ka ghar nahi le sakta. 1 crore ka ghar ka rent 20-25k mahina milta hai. Aur banda khud rahega to kharcha hi hoga miega kuch nahi.
this advise I can agree with you completely, very wise to think like this ! Again surprisingly a centre right person like me agrees with an Urban naxal . It’s all about finding common ground and world wold be a better place .
Does property really appreciate? I was looking for flat in the year 2012 for 21 Lakhs. Owner was asking for 25 Lakhs. I left the thought of buying that flat. After one year I came to know that owner sold that flat for 21 Lakhs. I didn't buy that time so I put all money in Fixed Deposit. Today that flat is still under 30 Lakhs but my money is more than double despite paying Income Tax on interest earned.
I think the flats price will appreciate for 5-10 years and then it will become stagnant. After that you can only consider the land price which is bound to it. But new apartment cost will rise. So, for investment the moto should be to sell it within 5 years for getting better value.
Please advise, currently getting 2.15 in hand, recently bought one plot at home town worth 55 L. Final Payment will be settled this month. Now from next month , I will start savings from zero. planning to buy a flat around 50 lakh. Should i wait to save 20% downpayment or can go for loan straight away . Can save 1L monthly easily
You didn't consider income tax & monthly mediclaim costs . IT for 1.5L salary shall be at least 22k per month . If you forego mediclaim for self & family , any hospitalization in family shall ruin you .
Very true. So, we need to revise the eligibility upwards to about 2 lakhs monthly salary for booking a house costing 1 cr. Plus savings of at least 40-50 lakhs.
@@KrishnarajRaoUrbanNaxal, Yes , to run daily needs , make some provision for job uncertainties and retain ability to meet unforeseen family & children's needs as they arise - that much is necessary . If we tread the housing-loan route at all .
also I found that after buying resale-but-unused 3bhk flat in 2021 with 60 lakh I spend 12-15 lakhs for registration , mutation-fees , new electric meter , minor repairs & modifications painting & just to equip it with furniture ACs electrical fittings beds mattresses modular-kitchen sofa dining-table - 100s of things needed to make new house livable . this is if you do simple (but good quality) interiors without employing a professional interior designer .
@@KrishnarajRaoUrbanNaxalThe project fully depleted my savings from 30 years of service in a psu . From early age I was stubborn not to take or give loans . I closely followed your advice on this UA-cam channel from beginning - to find the perfect home for my needs & finances , spend 6 years just hunting . Finally at 50+ I was able to be rent-free & loan-free too . I have learned much from this experience and avoided any bitter pitfalls with your help .
@@mayday9621 Actually, this is another factor that I hadn't even thought about. I should have! Great Points!!! I am screenshotting your comments and saving them for another video in the near future. Much love to you ❤❤
I think 40 Lakh should not be your 100% of saving, it should be atleast 90% of your total savings, So that we should have some money around 6-9 lakh as saving for bad times
agar mein 60Lakh ka plot kharidna chahta hun Bangalore mein, toh iss calculation ko divide by 2 kar sakta hun kya sir... Like my salary is 1.4 Lakh exactly and i have 10L of liquid cash , can i go ahead. Pls reply at your convenience
Salary double ki half emi wala loan lo.. whole point .. completely wasted my time.. I don’t know why people are just making videos for the sake of making videos.
Absolutely wrong... All EMIs should not exceed 25% of ur in hand salary otherwise u will be in deep trouble..JOBs r not at all safe these days .. AI and Robotics replacing humans .. No Jobs will left.. So, avoid any kind of heavy loans
Follow 3/20/30/40 rule: 3- cost of house not exceed 3 times ctc 20- tenure of the loan not exceed 20 yrs 30- EMI not to exceed 30% of in hand 40- down payment for house 40% of total cost of house
Last video me bol rahe the, stock markets, SIP are bad. Kya urban naxal Bhai. FD kar karke kaise 40 lakh jama honge. Usme bhi agar PMC bank jasa nikal Gaya to.
PMC bank hi hai kya ? Put FD in multiple top banks. With 1 lakh income. And savings. You will be able to make 40 lakhs in 5-6 years. Sip and equity investment to make money quickly for down payment is foolish
@@TheGeorgeous yes it was a co operative Bank. And yes people do bank with co operative banks. Point is, people like Kris shouldn't be giving financial advice. He's in no way qualified to do so. Nor should people take financial advice from random you tube comments.
Marte dam tak kiraye pe raho loan ke chakkar me mat raho, firbhi 20 lakh ka loan ka ghar 1 crore ke ghar jisko 20 saal bharna he us se acha he but woh bhi sardard he, bhale kam magar sardard he... Mere me woh jigra bilkul nahi he, Ek joke bangaya mujse magar he serious, aisa kehte he ke Bombay ke bohot se ilake jaise Colaba, Nariman Point, Cuffe Parade wagera yani Mantralaya, Mumbai University, Bombay High Court aur bhi angrezo ki buildinge sab dubne wali he... Socho ek bande ne 2030 me cuffe parade ya colaba me loan pe ghar liya aur loan complete hote he uska mohalla dub gaya 😂😂😂😂 bakwas he mumbai me rehna agar khud ka makan na ho toh, say no to loan, the trap of je ws satans
Pehle ye sab loan concept chal rahe thay..theek tha....lekin jabse crores above flats market mein aaye hain, toh ye mamla kuch gadbad hi dikhta hai....salary and emi ki equations hil gayee hain....1 - 1.25 lacs salary se 1 crore ka flat Lena mushkil hai....salary 1.25 lacs bhi tab maani jayegi jab tax 30 percent cut ho..matlab salary 1.75:lacs ki salary pat jab income tax katega, pf kayega, uske baad shayad hi net salary 1.25 lac Tak ho....toh sir 80 thousand emi Dena 20-30 saal tak , ek abhishaap hai...torture hai ...lanat hai jo builder jaise badmash logon ke chakkar mein aakar apni life ko nark bana de...agar builder nalayak hain, toh aise buyer maha nalayak hain , Jo apni hi shakha ko kaat rahe hain jis par woh khare Hain....Krish sir ka bohot bohot dhanywaad...it's an eye opener video....should be telecasted in news channels(but woh toh godi ho chuke hain builder ke dost Bane baithe hain)
If you have 1 crore in savings invested in different assets producing returns then always go for the 30 year loan period and do not liquidate your investments instead pay your emi out of your salary. Trust me your wealth will be way higher than you think
30 year loan , 25 year loan , even i say 15 or 20 year loan are traps . It is the greatest exploitation technique ever devised . U are basically toiling and giving out sweat and blood to make bankers rich . Why ? Because u are feeding interest to these banks . The principal is hardly getting reduced for 70 percent of loan tenure . Only in last phase u pay principal . So if anything happens to job and finances in between loan tenure , u would be stuck with huge principal to pay back and so far u have only mainly paid back interest . So now u will be stuck again . Solution , only take max 10 year home loan and that too have ability to pay extra during that period . In 6 to max 8 years all loan should be paid . Anything else is a trap .
@@tradingwizard562100% agree on this. 30 years home loan is a wealth destruction tool. You’ll start paying emi at the beginning of the career and end up paying emi till you’ll retire.
@@tradingwizard562in that sense in 10 year people have kids parents health issues and so many things to pay !!! U can’t pay off 1 crore house by paying 2 lakh emi a month people don’t earn so much . Rather stay on rent !!!
In my opinoin a middle class can not buy 1cr flat in his lifetime unless he sells his ancestral property. And if inheritance tax comes if modi wins then middle class can not even think to buy 1cr flat.
Log 40lakh liquid save karne se pehle hi bahak jate hai. Consumerism is at peak.
That's why they can't make assets. They spend and make others rich
self gratification control karna is a task....agar voh kar sakte ho toh theek...else flat mat kharido!
Blindly aping west taking loans for holidays too
50000 monthly 12% Equity me invest kare aur salana 5% savings baraye to 5 years me ban jate hai. :-) Jo 100000 kamate hai india me 5 saal me 1 crore ka ghar le sakte hai.
@@indranilmondal9 You cannot manage expenses in 50,000 with a family of four while paying rent.
Good logic.
Everyone is running blind into debt and financial pressure without any thoughts
Put that 40 lacs in fd for 3 4 yrs then I will creat some 15lac, later use that money to buy flat, that flat will appreciate by some 10 15 lacs in 3 yrs, later u can take loan and pay emi from 40 lacs fd with monthly returns it will ease ur emi amount.. correct me if I am wrong and need new ideas to buy a flat without munch burden of emi😮
@@abhishekvaraganti4038 Using FD interest to pay EMI is a good idea, If you have more than 50-60% of the loan amount in FD, also depends on the rate at which you get Home Loan and can book Fixed Deposits, Small Finance Banks will give FD rates of 8-9 % for normal and senior citizen. Home Loan rates for salaried customer is around 8-9% as well.
But the issue is with appreciation, do not count on your flat increasing value by 5% every year, some places it happens, others it doesn't, very hard to follow and predict, i know places that have the same rate for 8 years, i know places that have doubled in 8 years, same city. So it is not advisable to buy, for appreciation, buy for use, appreciation should only be a secondary bonus.
And finally, buy only for your present requirement, i see the mistake of young couples, or bachelors buying 3bhk for their eventual 5 person family, not a smart thing to do as many things change over the years and requirements will be different. So buy a smaller manageable place initially with majority portion saved money. Then if you are successful in making money you can look to upgrade 5-6 yrs down the line.
And the government is pushing for 5 trillion economy blindly buying big cars which will depreciate.The media at fault showing all these going around swanky cars and and flats.
I had a savings of 48L and salary of 1.2L, still bought a house worth 70L.
Location? 1 or 2 bhk?
@@mohammadshaqibsiddique9291 Chennai, 2bhk.
Is se acha America me jaake zameen leleta
Very nice. Aapki age?
@@mohammadshaqibsiddique9291 2bhk Chennai
dont fall in loan trap guys 1 cr flat not worth even your salary is 1.4 lakhs per month. property prices are on high rockets 🚀 🚀 and specially if you are in pvt job then there is no job security, only I will suggest if your partner is also earning same amount as you earning then you can take risk, else make fds invest in gold not in jwellery, that money will surely help you in bad time.
Invest some money in Mutual funds & shares also..
Gaon me farm lo, budhape me retirement life waha guzaro usi loan ke paiso ko save karke..
My friend is in this trap and making exactly 1.4 together and paying 80k emi for a flat he bought for 1.8cr..and i can say his life isnt as good as it once was.
What location 1.8 CR 😮
For what time period.
You are giving so much valuable guidance. There are companies and people that charge money for such financial outlook
Excellent video Mr. Krishnaraj. Thanks for sharing this message.
My opinion is different. Buy a 1 CR flat when you have 2 CR savings or assets and income of 1.5 lakhs per month. And take loan of 30-40 Lakhs for tax saving purpose and for property verification.
Quite right.
Lol
@@biswaMastAadmi why ?
Correct and if it's an under-construction property then maybe 1 CR saving/total asset would be enough. You can pay the payment without a home loan.
@swiss512 If you have 2 CR in mutual fund and stocks, is it fissible to buy 1 CR flat after selling the part portion of mutual fund and stocks?
Practical advice Krish Sir . Thank you 🙏
Very easy to understand very good advise!
specially for young people falling for developer's sales representative who buzz around you with their fabulous product display.
Very rightly said sir ,my opinion not to get in debt trap,and make as much saving as possible
Spot on sir.. financial wisdom is needed.
Being debt free is the best thing in a man's life.
Even after time-wise correction, home-EMIs are still 3-5 times rent in Indian cities. When investing in any asset-class it is said, 'Bhaav is Bhagwan' i.e Price is everything, but for home, emotions get priority over price, so most of saving is locked in EMI which I feel shouldn't be more than 33% of net-income.
Majority of buyers may not have seen bad-times, so keep some savings for it, coz survival of family is more important than house which you can anyway get on rent.
Too good sir eye opening thank you so much for guiding 👏👏❤️
Krish sir, Aap upfront bol dijiye ki 1.5 lakhs per month is case me take home salary hein. For that, one need a minimum package of 24-28 LPA gross. And, usually jinka 1 cr ka home loan hota hein unka car loan bhi hotaa hein, mutlub easily month ka net 1 to 1.10 lakh trapped ho gya.
Sir, layoffs of middle managers in the private sector companies are a real threat. When I lost my job last year, it took me 5 months to find a decent job. I'm grateful that I was debt-free, which helped me get through that tough time.
Also one point need to understand if your are living in 1xr flat then most probably you are surrounded by a upper rich middle class and you have to cope up with their standard including your kids education, schools are also with their standard and over the time it will burdensome to you.
My funda, dont go for a flat if you have home in ur hometown.
I'm gonna follow this
One more piece of advice.
Most people will inherit some sort of house or property at some point.
Instead of insisting on a new house or apartment, it would make a lot of sense to invest half that amount to renovate your inherited property and live on rent in the interim.
The conditioning that everyone needs to own their own home is problematic
Small flat lo lekin loan mat lo ya kam lo. Loan jitna kam ya zero hoga to best. Private job main safety nahi hoti. Right explained sir 👏
Very true always have liquid cash for health emergencies too
Very very informative video . Salute to you
Apke Sare videos bahut ache hote h... Aam janta ke hit me. Big fan or yours sir
- Plan buying a flat before 5-10years.
- Start accumulating money early.
- make 40-50% down payment.
- save in FD, RD, Gold and some % in low risk funds.
- Increase EMI every year by 10% and pay 2-3 EMI as prepayment every year.
Your loan will be finished in 9-11 years only.
5-10 years horizon and no investment in equity?
Whats so great about finishing home loan ?? 😅😅 Is buying house a life time achievement 😂😂😂
@@sudheerkumar4886Yes it is. Rent appreciation will boom every decade. Only the super rich can afford to live in a rented house, others eventually can't.
@@sudheerkumar4886 food, clothes and shelter are the basic needs but nowadays in capitalist system, human being are using foods, clothes and shelter as show off to society and satisfaction of ego . Due to this show-off mindset basic needs of food, clothes and shelter priceses have skyrocketing as average human being can't even afford. We live in a dump consumerist system.
@@ARS298that’s what I said save in FD RD and gold and invest some portion in equities.
Sir ur soch n Logic.....True fr real life Facts to Understand....❤
I became CA back in 2020 and we take a lot of pride running assumptions on excel building different scenarios.
Your logic and experience is a gold mine for us.
Thank you for sharing this sir.😃
🙏🏻🙏🏻😊😊
Thank you for bringing this topic
Good your share true financial experience
Im still jobless haha...but yes this knowledge help me in future..good explanation 👍
Earn for banks and pay EMI. All prices are shooted up and trap is yours.
True middle class never buy under construction flat.You will have heart attack family fights marriage pribloms you cannot enjoy life specially working in private sector government should be strict in giving loans. Should be a counselor in the bank for the clients whether he can really pay the loans.
Excellent video sir!
Jay maharashtra.. changl bolalat tumhi sir.. wedyasarkh loan gheun lok shewti sucide karun ghetat..financial education must for everyone..keep on educating sir..😊
2017 ka case hai Sir mera xrbia main neral main 340000 rs builder nhi de rha hai sir...or mera sign bhi hai uss document p jo ki refundable nhi hai...sir pls koi option batayein
Very sensible explanation sir
Under construction is the best option if you do your due diligence since you can avail upto 18 to 24 months morotorium period. You can even prepay emi in advance which can reduce your total tenure. With proper planning, you can close a 30 yr loan in 4 to 5 years for a 1cr flat. I am assuming both husband & wife are working and one of them earns atleast 25 lakhs per annum
1.4 lakhs monthly salary in hand ( i.e. after tax). So gross salary has to be even more !
Around 1.80 lakh gross monthly salary
👍🏽
Quite right! 👍🏽
Great content sir !!!
Excellent video
If you keep accumulating 40LAC...mean time flat prices going up.....later you need 60LAC down payment.
Latest flats will have better amenities compared to old flat....
Sir, kya PF ka Paisa withdraw karke down payment karna chahiye flat ke liye
India has seen a lot of inflation . 1 crore for property is not cheap. Equivalent rent 80000 rs is high for middle class.
My guess Inflation in wages . This will pressure US companies to raise prices in USA. Therefore translating into sustainable Inflation for long time.
Globalization is backfiring on USA.
Nowadays banks are imposing insurance with loan which increases the EMI by 10-12k.
Because corporate jobs don't have security and they have seen them during COVID times.
Emi cant increase by 10-12k pm. It increases by few hundred rupees if you are talking about a loan of 80 lacs. If you are talking about 10-15 cr flat, then its possible
Sir make a video on cyber crime awareness, kahin aisa na ho ki log saving karein aur cyber criminals paisa uda lein jaye online.
That means other family members are as good as dead , useless. Purchasing a flat especially in Mumbai is not possible for only one working person, definitely financial support will require otherwise this task is impossible for a common ordinary person.
Forget about Mumbai even in Hyderabad it not possible.
So logical.
My personal experience if you have low downpayment then please buy flat in range of 60-70 lac so that the emi is just above the current rent of the flat . Or else go for resale property 2-3 km away from city. Rather paying 80k emi I will suggest pay 40k emi and 40k SIP every month
Very true. I paid down-payment 34 lakhs paid apprx 6.5 lakhs for registry to buy flat of 97 lakhs. Accurate info. Loan tenure 19 years. Loan emi amount should not be more than 30 percent of your salary is perfect Rule.
Sir my parents are forcing me to buy flat, hope they will agree with me after watching you video.
Sir minimum Rs 2.1 lakh take home salary needed and Rs 50 lakhs cash needed. All 50 lakh should not be used for down payment. One needs 2 years expenses in liquid assets in case one looses a job or have to work with reduced salary.
I totally agree!!! 💯 👍🏽👍🏽
bohot badiya krish bohot log planning karte hi nahi aur kare to dimag mein rough plan karte hai.
several parameters are critical which nobody thinks of like ones health dependants health can suddenly go bad, what if earning member dies, what if you lose job, what if you dont get that high paying job you will have to settle with whatever is offered, if you met with accident and you are handicapped so on so forth many possibilities.
Plan A fail ho to Plan B Plan C ready hona chahiye
You should have 2nd earning 3rd 4th 5th diversified earning ho to behtar hoga it will keep supporting you and your plan in adversities.
I may sound negative but that is how unpredictive life is because things may appear to be in our control but nothing is.
We have to consider all possibilities especially bad ones
Healthcare cost of parents should also b considered.
What about income taxes on the income ?
Great advice everyone must consider this before getting into long term financial commitment. 18 & 30 years is a huge time period a lot happens between this phase of life. Predicting finances for 30 years is not at all easy. Just to add take less money for long periods so your emi is less and then try to finish it off as soon as possible. To all loan takers once you take a loan trust me you will be tired of repaying for next 18 or 30 years. Also if the repo rates or the interest rates increase then you will suffer even more. No matter what happens paisa toh dena padega. Use loan to grow in life not to degrade your life keep the risk low. Don’t let this affect yours and your families mental peace 🙏🏽😇
Flat is NOT always an appreciating asset, unlike land. Once the maintenance increases and if the location is not great, selling off is not easy. All these should be considered while buying it. Better to stay on rent until one got the balance to clear off the loan anytime he wishes. Taking loan should be just for the sake of getting some tax benefit, but equivalent cash should be there in savings account to clear off loan anytime. I have seen people losing job while paying emi. They are not able to sell off due to lack of demand for old flats and also unable to find a tenant.
Sir aaj ki date main 1 lakh par month wala bhi 1 crore ka ghar nahi le sakta. 1 crore ka ghar ka rent 20-25k mahina milta hai. Aur banda khud rahega to kharcha hi hoga miega kuch nahi.
Please could you do same video, for purchasing a car or any other vehicle
wel said
What about government employees sir
this advise I can agree with you completely, very wise to think like this ! Again surprisingly a centre right person like me agrees with an Urban naxal . It’s all about finding common ground and world wold be a better place .
😊😊🙏🏻🙏🏻 Deeply appreciated.
Does property really appreciate? I was looking for flat in the year 2012 for 21 Lakhs. Owner was asking for 25 Lakhs. I left the thought of buying that flat. After one year I came to know that owner sold that flat for 21 Lakhs. I didn't buy that time so I put all money in Fixed Deposit. Today that flat is still under 30 Lakhs but my money is more than double despite paying Income Tax on interest earned.
I think the flats price will appreciate for 5-10 years and then it will become stagnant. After that you can only consider the land price which is bound to it. But new apartment cost will rise. So, for investment the moto should be to sell it within 5 years for getting better value.
Best sasta Ghar lo, bhale thoda dur ho... Tier 2/3 cities me
Kasam se dil ki baat boldi, wahi city me kamse kam wohi loan me paise use karne se acha chota sa hotel canteen wagera daal sakte usi chote sheher me
Please advise, currently getting 2.15 in hand, recently bought one plot at home town worth 55 L. Final Payment will be settled this month. Now from next month , I will start savings from zero. planning to buy a flat around 50 lakh. Should i wait to save 20% downpayment or can go for loan straight away . Can save 1L monthly easily
You didn't consider income tax & monthly mediclaim costs . IT for 1.5L salary shall be at least 22k per month . If you forego mediclaim for self & family , any hospitalization in family shall ruin you .
Very true. So, we need to revise the eligibility upwards to about 2 lakhs monthly salary for booking a house costing 1 cr. Plus savings of at least 40-50 lakhs.
@@KrishnarajRaoUrbanNaxal, Yes , to run daily needs , make some provision for job uncertainties and retain ability to meet unforeseen family & children's needs as they arise - that much is necessary . If we tread the housing-loan route at all .
also I found that after buying resale-but-unused 3bhk flat in 2021 with 60 lakh I spend 12-15 lakhs for registration , mutation-fees , new electric meter , minor repairs & modifications painting & just to equip it with furniture ACs electrical fittings beds mattresses modular-kitchen sofa dining-table - 100s of things needed to make new house livable . this is if you do simple (but good quality) interiors without employing a professional interior designer .
@@KrishnarajRaoUrbanNaxalThe project fully depleted my savings from 30 years of service in a psu . From early age I was stubborn not to take or give loans . I closely followed your advice on this UA-cam channel from beginning - to find the perfect home for my needs & finances , spend 6 years just hunting . Finally at 50+ I was able to be rent-free & loan-free too . I have learned much from this experience and avoided any bitter pitfalls with your help .
@@mayday9621 Actually, this is another factor that I hadn't even thought about. I should have! Great Points!!! I am screenshotting your comments and saving them for another video in the near future. Much love to you ❤❤
Home ka rent bhi ayega
20% for down payment, at least 3 times EMI take home Salary.
One Man Army against Thousands of Wicked & Cheater Builders
More than 30000 people in NOIDA is paying EMI and rent and no hope to get flat.
I think 40 Lakh should not be your 100% of saving, it should be atleast 90% of your total savings, So that we should have some money around 6-9 lakh as saving for bad times
I have savings of 70 lakhs but my salary is 1.2 lakhs per month.
Sir Delhi k builders pe bhi video banao na. Premia builder paise khake baitha h bahut logo ka. Logo ki savings chali gai
#pallavichaurasia Premia builder is on the verge of bankruptcy.
👌👌👌
Ab toh 2025 se india mein paani ki bhayankar shortage ho jayegi...fir kya karenge 4 crore ke ncr ka dabba 4 bhk flay mein?
I also think so, sab marenge
Bombay me Bandra Juhu Malabar hills Colaba wagera sab agar khuda na khasta pani me bhar gaye toh 😂😂😂
👌👍
What about real estate salesmen? Should we take financial advice from them?
Never their eyes are on brokerage/ commissions.
agar mein 60Lakh ka plot kharidna chahta hun Bangalore mein, toh iss calculation ko divide by 2 kar sakta hun kya sir... Like my salary is 1.4 Lakh exactly and i have 10L of liquid cash , can i go ahead. Pls reply at your convenience
Which location the plot is?
@@PhDLaw after kengeri
@@rachangoudapatilnidoni5058 if it is within 2km from Bangalore Mysore Highway or Metro, then price is good. U can bargain for 55 lakhs
Salary double ki half emi wala loan lo.. whole point .. completely wasted my time.. I don’t know why people are just making videos for the sake of making videos.
Absolutely wrong...
All EMIs should not exceed 25% of ur in hand salary otherwise u will be in deep trouble..JOBs r not at all safe these days ..
AI and Robotics replacing humans .. No Jobs will left..
So, avoid any kind of heavy loans
Doesn't make sense if one is earning 3 lakhs per month with average expenses 50k per month, he can easily go way beyond 25%.
All flat purchase is based on FOMO.. unresonable prices
Follow 3/20/30/40 rule:
3- cost of house not exceed 3 times ctc
20- tenure of the loan not exceed 20 yrs
30- EMI not to exceed 30% of in hand
40- down payment for house 40% of total cost of house
Last video me bol rahe the, stock markets, SIP are bad. Kya urban naxal Bhai. FD kar karke kaise 40 lakh jama honge. Usme bhi agar PMC bank jasa nikal Gaya to.
Diversify in multiple banks
PMC bank hi hai kya ?
Put FD in multiple top banks.
With 1 lakh income. And savings. You will be able to make 40 lakhs in 5-6 years.
Sip and equity investment to make money quickly for down payment is foolish
@@TheGeorgeous 5-6 years is not quickly.
@@TheGeorgeous yes it was a co operative Bank. And yes people do bank with co operative banks.
Point is, people like Kris shouldn't be giving financial advice. He's in no way qualified to do so. Nor should people take financial advice from random you tube comments.
Suoer Sir this is why i am afraid to take loan.
Marte dam tak kiraye pe raho loan ke chakkar me mat raho, firbhi 20 lakh ka loan ka ghar 1 crore ke ghar jisko 20 saal bharna he us se acha he but woh bhi sardard he, bhale kam magar sardard he... Mere me woh jigra bilkul nahi he, Ek joke bangaya mujse magar he serious, aisa kehte he ke Bombay ke bohot se ilake jaise Colaba, Nariman Point, Cuffe Parade wagera yani Mantralaya, Mumbai University, Bombay High Court aur bhi angrezo ki buildinge sab dubne wali he... Socho ek bande ne 2030 me cuffe parade ya colaba me loan pe ghar liya aur loan complete hote he uska mohalla dub gaya 😂😂😂😂 bakwas he mumbai me rehna agar khud ka makan na ho toh, say no to loan, the trap of je ws satans
Right
Pehle ye sab loan concept chal rahe thay..theek tha....lekin jabse crores above flats market mein aaye hain, toh ye mamla kuch gadbad hi dikhta hai....salary and emi ki equations hil gayee hain....1 - 1.25 lacs salary se 1 crore ka flat Lena mushkil hai....salary 1.25 lacs bhi tab maani jayegi jab tax 30 percent cut ho..matlab salary 1.75:lacs ki salary pat jab income tax katega, pf kayega, uske baad shayad hi net salary 1.25 lac Tak ho....toh sir 80 thousand emi Dena 20-30 saal tak , ek abhishaap hai...torture hai ...lanat hai jo builder jaise badmash logon ke chakkar mein aakar apni life ko nark bana de...agar builder nalayak hain, toh aise buyer maha nalayak hain , Jo apni hi shakha ko kaat rahe hain jis par woh khare Hain....Krish sir ka bohot bohot dhanywaad...it's an eye opener video....should be telecasted in news channels(but woh toh godi ho chuke hain builder ke dost Bane baithe hain)
Seeing this man's videos is terrifying. What should a 26 yo common IT employee do?
At 26, you took a housing loan?
@@Incredible_World_2023 No, But I always worry about my future after see his videos.
Do your job, focus on career and stay safe
@@user-kn2il5pz6xDon't fall for debt traps like home loan...
If you have 1 crore in savings invested in different assets producing returns then always go for the 30 year loan period and do not liquidate your investments instead pay your emi out of your salary. Trust me your wealth will be way higher than you think
Well, what if you loose your job or incapacitated and cannot work?
30 year loan , 25 year loan , even i say 15 or 20 year loan are traps .
It is the greatest exploitation technique ever devised . U are basically toiling and giving out sweat and blood to make bankers rich . Why ? Because u are feeding interest to these banks . The principal is hardly getting reduced for 70 percent of loan tenure .
Only in last phase u pay principal .
So if anything happens to job and finances in between loan tenure , u would be stuck with huge principal to pay back and so far u have only mainly paid back interest .
So now u will be stuck again .
Solution , only take max 10 year home loan and that too have ability to pay extra during that period .
In 6 to max 8 years all loan should be paid . Anything else is a trap .
@@tradingwizard562100% agree on this. 30 years home loan is a wealth destruction tool. You’ll start paying emi at the beginning of the career and end up paying emi till you’ll retire.
@@tradingwizard562in that sense in 10 year people have kids parents health issues and so many things to pay !!! U can’t pay off 1 crore house by paying 2 lakh emi a month people don’t earn so much . Rather stay on rent !!!
@@prakashthDon’t worry insurance will take care of it.
Complete fraud guy.... he doesn't make any thing that needs to be heard
In my opinoin a middle class can not buy 1cr flat in his lifetime unless he sells his ancestral property. And if inheritance tax comes if modi wins then middle class can not even think to buy 1cr flat.
Buy land at under develop area..
Rent pe raho