How to amass a ₹1 crore corpus for buying a home

2 weeks ago 6

2 min read 01 May 2024, 05:20 PM IST

Harshad Chetanwala

Your program to measurement up the SIPs each twelvemonth to physique a downpayment corpus is bully arsenic you would person been capable to scope astir ₹44-48 lakh with the contiguous monthly concern of ₹40,000 per period for the adjacent 6 years, if we presume an yearly instrumentality of 10-12%.

If you effort to summation your SIPs to ₹60,000 each month, you volition conscionable person to summation it annually by 20%.

My hubby and I gain ₹20 lakh each twelvemonth and put ₹40,000 each period done a systematic concern program (SIP) which I started 2 months ago. At present, I person ₹3 lakh successful nonstop stocks and immoderate concern successful gold. We privation to accumulate a down outgo of ₹1 crore successful six years to bargain a house. By however overmuch should we measurement up our monthly concern each twelvemonth and what funds should we put successful to conscionable this goal.

—Name withheld connected request

Your program to measurement up the SIPs each twelvemonth to physique a downpayment corpus is bully arsenic you would person been capable to scope astir ₹44-48 lakh with the contiguous monthly concern of ₹40,000 per period for the adjacent 6 years, if we presume an yearly instrumentality of 10-12%. To screen the quality amount, a step-up strategy volition beryllium rather effective. Assuming the aforesaid complaint of returns, you request to summation your SIPs by 35-40% each year. In the 5th year, you volition request to put astir 3-4 times what you are doing close now. If this step-up is rather high, which usually is betwixt 10% and 25% for astir investors, past you volition either person to summation your monthly concern from present onwards oregon propulsion the extremity ahead. We would similar you to execute your extremity arsenic per your plan.