An individual with at least Rs 10 lakhs to invest in real estate. The individual is free to use his/her funds to pay the builder’s demand if one doesn’t want to avail the loan facility.
One should have a decent CIBIL score if he/she wants to go for a home loan. This means that along with a good payment track record, the disposable monthly income should be approximately double of the EMI that the person can afford. For example: if you want to invest in a flat worth Rs 1 Cr, you will need a loan of Rs 90 lakhs for 15 years at ~8% interest per annum. In order to avail this, your net disposable income when actual EMI starts should be approximately Rs 1,80,000+ per month to be able to afford an EMI of Rs ~90,000. This means that if we enter a project at pre-launch stage and the final delivery date is after 4 years, then bank will see if you will be able to reach Rs ~1,80,000 income in 4 years or not. In some cases, banks can provide the loan even for lower disposable income - you should check with your banker to check your eligibility for home loan.
The bank charges simple interest in Pre-EMI stage (before possession). In a typical scenario of 90 lakhs loan, the individual starts with very low interest payment which gradually increases as the individual keeps asking bank to pay to the builder. At the end of 2 years, you will expect to pay approximately 6 lakhs to the bank as simple interest.
The individual is free to use his/her funds to pay the builder’s demand if one doesn’t want to avail the loan facility. The Unity Group of Investors or any of its members do not provide any financial support.
One can view his/her CIBIL score for free on Google Pay or any other wallets. A score above 750 is considered to be very good.
If you meet the criteria given above, then Call / WhatsApp us on (+91) - 81971 48883 with your name and the amount you are interested to invest.
Once we shortlist a project, we will reach out to you with the details of where are we going to invest.
This will also be published on our website on the Upcoming Project page.