Amount in lakhs

Particulars 2018-19 2019-20 2020-21

Annual Income 18.05 20.25 21.5
Income Tax 4.25 5.75 6
Depreciation 2 2.15 2.15
Net Annual Income 15.8 16.65 17.65

NMI 131,666.67 138,750.00 147,083.33

Average NMI 139166.666667

Calculation of Project cost Amount

Purchase price of Villa 17000000
Stamp duty and registration 1500000
Insurance of property 500000
Interiors and furnishing 4250000 (Cost Rs. 50 laks maximum to 25% of agreement value)
Total Project cost 23250000

Loan eligbility for Mohan and Priya

Remark - Priya is coborrwe and her age is lower than Mohan and therfore we take loan for 22 years so that our EMI will be low

Maximum EMI they can pay 104375 (75% of NMI as per CIBIL score)
Maximum loan they take 11597222.2222

Calculation oh NMI after adding son's income

Amount in lakhs
Particulars 2018-19 2019-20 2020-21
Annual Income 3.75 4.5 5
Depreciation 0.8 0.85 0.9
Net Annual Income 4.55 5.35 5.9

NMI 37,916.67 44,583.33 49,166.67

Average NMI of son 43,888.89

Average NMI of Mohan and priy 139,166.67

Total average NMI 183,055.56

Loan eligbility for Mohan and Priya

Remark - Yash is coborrwer and her age is lower than Mohan and therfore we take loan for 30 years so that our EMI will be lo

Maximum EMI they can pay 137,291.67 (75% of NMI as per CIBIL score)
Maximum loan they take 19,613,095.24

Loan calculation

LTV 0.75
Project Cost 23250000

Maximum loan as per LTV 17437500

EMI 122062.5
 Questions Answers
Q2 139166.666666667

Q3 11597222.2222222

Q4 183055.555555556

Q5 19613095.2380952

Home lane will be sanctioned as

Maximum loan as per LTV is lower
Q6 than the total eligible loan

so that our EMI will be lowest

so that our EMI will be lowest

Q1 Salaried
Steady income
Less chances of fraud - Job security
Past track record verified by the co
Low chances of manipulation
Non salaried
there is high growth in business income
self-employed person as the tax he pays and other deductions are unde
Detailed recod of expenses give better picture
Banks generaaly offer longer payback due to non retirement in case of s
nd other deductions are under his control and at his disposition

to non retirement in case of salaried person