POSTED BY June 19, 2013 12:45 pm COMMENTS (5)ON
I’ve bought a flat in Bangalore 3 years ago with loan amount of 30 lakhs for a period of 15 years @10.5% rate of interest.
I made a partial prepayment of Rs 4 Lakhs in the last year in 2 instalments. So the outstanding loan amount as of now is approx 22 Lakhs.
I do have a surplus amount which can further reduce the principal loan amount but after going through the posts in your forum, I have decided not to prepay the amount anymore
Now my query is Can I invest this amount in another property ( small residential plot ) in my native city (Belgaum)?
1) Is it a good idea to invest in the property again?
2) What are the other avenues where I can invest the amount so that I can get a return of 10% or more annually ?
3) My investment horizon is for 3-5 years
4) I am already invested in equities (and on marginal loss). Also adequately covered with insurance. so dont want to invest here
5) Do not want to invest in Gold/Silver or jewellery