Hi ,
I have finished constructing a house after taking a home loan from one of nationalised bank for 41 lakhs .My EMI comes to around 43000/- for next 20 years . Now i am planning to repay this loan asap .I came across a news paper advt from a city development authority that they are auctioning the unsold plots .
I am planning to take part in this auction and get a plot which amounts to roughly around 40 lakhs then dispose it off in next one year with an appreciation of 15-20% then repay a major part of my Home loan amount .
Would this be a wise investment to do or not ????
W