u/Left_Membership2780

Hi all,

So I (38M) live in Hyderabad with my wife (32F) and a 5 year old kid. I had invested in a small flat years ago in my hometown in north India for helping out in a deposit for a home of my own in Delhi/NCR. Currently live in a rented place with 26k pm rent in Hyderabad. Having decided that this is the best metro in the country, I have been looking to settle in the city with buying a flat for living, not too far from Cyberabad area which has the major corporate offices. Among the options seen, the top 2 ready to move in flats that are costing about 1.4 and 1.5 crores all inclusive, except interior work. I will get 40 lakhs after selling the hometown flat and have another 10 odd lakhs saved for interior work which we will spend as and when required (kitchen and room wardrobes first and then). Apart from this, my savings/investments are about 20L (excluding an emergency fund of 8 lakhs, never touching that God willing). This means that I will have to take a home loan for about 1 Cr. With a 20 year tenure, at 9 percent rate (deliberately putting this high for now), the EMI is coming to about 90k per month. My in-hand salary currently is 1.5L and wife's is 1.1L pm. Both jobs are stable as of now.
Monthly expenses breakup below:

1. This home loan - 90k
2. My current investments - 20k pm in SIPs
3. My monthly expenses (office commute, lunch at office etc.) - 15k
4. Wife's monthly expenses - 15k
5. Kid's School - 20k
6. The new flat maintenance - 6k
7. Monthly grocery - 20k
8. Maid - 6k
9. Electricity - 5k
10. Private Health Insurance - 3k
11. Cooking Gas - 1k
12. OPD Medical Expenses - 10k
13. Clothing - 10k
14. Eating out/ordering in/random purchases for me/wife/kid - 10k

This leaves about 30k for emergency funds every month.

Query:

1. For the seasoned folks who have bought homes with loans, considering our income, is the 1Cr loan too ambitious? Or this appears to be fine and if I muster enough courage, taking the loan should be fine.
2. Am I missing out on any other expenses that will come buying a flat? Both options are are from decently renowned builders.
3. Any other suggestions/tips/advise for a first time home buyer?

TIA!

Hi All,

Following up on my previous post (linked below) looking for a ready to move only flat in 1300-1400 sq ft carpet area and under a 10-12km radius of Ikea. I had to unfortunately increase my budget as for under 1.25 all inclusive are too few. Best one I found was SVNR The Breeze (3bhk for 1.3cr all in with only registry extra). Balcony faces a cricket ground and view from 3rd floor is SUPER far (can even the the Police Headquarters in front of Niloufer Banjara Hills). For us the con was the military road is not a pakka road and is very dusty. And the school bus will come 2 kms away so daily challenge to drop and pick up my son. Also building complex is very small, pool is right below the balconies so will be very dirty when all are occupied.
Muppa Aishwarya also has an old flat available with 1.2cr all included, but the complex is also very small and the building is already 12+ years old.

Now we knew that for our needs, we would have to increase our budget by a LOT. After some more research, we found the following:

1. EIPL Cornerstone. This is an entry level luxury society. Excellent buidling complex. The flat size available is 2065 Sq Ft. All inclusive is costing 2.1 Cr (registry and interiors extra). Obviously clearly out of our budget but a man can only dream.

2. Aparna Zenon. Again, brand name Aparna, looks pretty good, but their smallest 3bhk is costing again 2.1Cr all inclusive, but the flat is just about 1k Sq ft internal carpet area, which is waay too small. And also the budget is too

3. Hallmark Skyrena. We saw this one, location is also good, a couple of units available in 1st floor. All inclusive costing around 1.75Cr. Now this is not wayy out (stll out of our increased budget) since we had thought of increasing our budget anyways (considering 1.3 wasn't cutting it). Only thing is I have seen too many negative reviews, a 10 day old detailed Google review is also not a positive one, including seepage issues etc. I highlighted this to the sales guy, he said he accepts it was a seepage issue when they were constructing the buildings, but since the society is complete, no such issues anymore. Also said there have been zero water supply issues so far. Never ordered a single water tanker for the society.

4. Any other tips for ready to move in flats, less than 5 yr old, 1300+ carpet area, 2nd to 10th floor, under a 12km radius of Ikea (budget about 1.5-1.6 all inclusive), would be appreciated.

https://www.reddit.com/r/hyderabadrealestate/comments/1t6d9bv/looking_to_buy_a_flat_within_10_km_radius_of_ikea/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

Hi all,

I have been investing 22k per month since 2022. Currently value is close to 15 lakhs as per INDmoney. Breakdown (4-5k monthly in each) below:

1. SBI Smallcap
2. SBI Large and Midcap
3. SBI Midcap
4. SBI Contra
5. HDFC Multicap
6. SBI Focused
7. SBI Healthcare Opportunities
8. Parag Parikh Flexicap
9. SBI Technology Opportunities

Now all these are Regular Funds which were suggested by a close relative uncle who is managing these. I had no idea about Regular/Direct. I dont want to buy through him anymore and will invest through INDmoney or something. Points below:

Goal: Investing for long term wealth creation. Am 38 yrs old, want to be a crorepati (lol) as soon as possible. Apart from these 22k, I want to start investing at least 30k starting next month or so.
Horizon: Long term, 10+ years. Have other household expenses taken care of, so (fingers crossed) will not need to withdraw this money
Allocation: Monthly SIPs, prefer 5k (or maybe 10k if that is advisable) monthly
Why these Funds: That's what I am unsure about. No idea where to search and how to find out which one is the best for my needs (long term wealth creation).
App Used: I have installed INDmoney for quick check of the funds, looks okay as an App. Can consider investing through it (unless others share any glaring issues in investing/withdrawing through INDmoney).
Help:

• How can I find out which Funds to invest in? Are there a couple of things to see (apart from historical performance) like some ratios etc.?
• Any of the current funds that I should increase my investment?
• Is it safe to invest through INDmoney?

Hi all,

I have been investing 22k per month since 2022. Currently value is close to 15 lakhs as per INDmoney. Breakdown (4-5k monthly in each) below:

1. SBI Smallcap (4k per month)
2. SBI Large and Midcap (5k per month)
3. SBI Midcap (5k per month)
4. SBI Contra (5K per month)
5. SBI Focused (4k per month)
6. SBI Healthcare Opportunities (stopped Nov-22)
7. Parag Parikh Flexicap (Stopped Nov-22)
8. HDFC Multicap (one time invested 1L)
9. SBI Technology Opportunities (Stopped Apr-24)

Now all these are Regular Funds which were suggested by a close relative uncle who is managing these. I had no idea about Regular/Direct. I dont want to buy through him anymore and will invest through INDmoney or something. Points below:

Goal: Investing for long term wealth creation. Am 38 yrs old, want to be a crorepati (lol) as soon as possible. Apart from these 22k, I want to start investing at least 30k starting next month or so.
Horizon(Risk Appetite): Risk appetite as per UTI analyser is moderate. Long term, 10+ years. Have other household expenses taken care of, so (fingers crossed) will not need to withdraw this money
Allocation: Monthly SIPs, prefer 5k (or maybe 10k if that is advisable) monthly
Why these Funds: My uncle suggested and invested these in my name. I am unsure about how to invest the additional 30k+ per month. No idea where to search and how to find out which one is the best for my needs (long term wealth creation).
App Used: I have installed INDmoney for quick check of the funds, looks okay as an App. Can consider investing through it (unless others share any glaring issues in investing/withdrawing).
Help:

• How can I find out which Funds to invest in? Are there a couple of things to see (apart from historical performance) like some ratios etc.?
• Any of the current funds that I should increase my investment?
• Is it safe to invest through INDmoney?

I am looking for a ready-to-move in flat for myself and family (wife, parents). Within a 10 km radius of Ikea. Looking for a 3bhk (3 room, 3 bath) preferably below 10th floor (must not be top floor of the building). Carpet area must be at least 1400 Sq ft. Looking for a semi furnished (kitchen slabs and cabinets, bathrooms done) flat. Budget, including amenities (1 car park, power backup etc.) and before registry is about 1.25Cr. Looking through only direct sellers. NO agents. TIA!