Suggest me how to invest for my flat ?

POSTED BY Mr.Nilesh ON October 7, 2013 12:53 pm COMMENTS (4)

Dear sir,

I am 24yr Engineer working with a reputed manufacturing company.My take home salary per month is 20,500 PM.

I have invested in MF  with monthly SIP of 1000/-  each in two funds

1.SBI magnum equity fund growth(1000/- SIP)

2.SBI emerging business fund(1000/- SIP)

I have one LIC plan jeevan anand premium of 1050/- per month for 25yrs.

I also have one RD of 1000/- pm in SBI.

Further i want to invest 4000/- pm  where to invest it i am confused with PPF,RD,share market etc.

My goal is to buy small flat with budget around 1500000/-  in rural area after 2-3yrs with home loan from bank.For this i have to pay margin money around 15-20% of property price + 5% stamp duty + 1% service tax +VAT etc etc.To pay these amounts i am investing my money for maximum 3-3.5 year duration only.

Please suggest me sir.

Thanking you!

4 replies on this article “Suggest me how to invest for my flat ?”

  1. ashalanshu says:

    Dear Nilesh, please invest in Eq. funds only if your goal term is 10-15Y or more. Please do not invest in Eq. funds for such a short term of 2-3 years. you may burn your fingers.



  2. Mr.Nilesh says:

    shall i stick to mutual fund or stop the SIP???

  3. Mr.Nilesh says:

    thank u so much sir.

  4. ashalanshu says:

    Dear Nilesh, keeping your requirement in mind, a bank RD is the only product you should think of for your saving towards home down payment money.



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