Prestige Grove Park EMI Calculator: Monthly EMI for 2 and 3 BHK Homes

The calculator needs just three inputs, and it shows your EMI instantly.

• Enter your loan amount, which is the home price minus your down payment.
• Enter the interest rate your bank offers you.
• Choose your loan tenure in years, from 5 up to 30.

The calculator then shows your monthly EMI, total interest and total amount payable. Try a few rates and tenures to see how each change affects your monthly budget.

This table assumes an 80% home loan for 20 years. Prices use the pre-launch base rate of about ₹34,000 per sq ft.

These figures are for planning only. Your bank's rate, fees and tenure will change the final EMI.

This table lets you work out the EMI for any loan amount quickly. Multiply the figure by the number of lakhs you borrow.

For example, a ₹2 Cr loan is 200 lakh. At 7.5% for 20 years, your EMI is 200 × ₹806, or about ₹1.61 lakh.

A longer tenure lowers your EMI but raises the total interest you pay. Here is how it works for the smallest 2 BHK with a ₹2.04 Cr loan at 7.5%.

A 30-year loan cuts your EMI by about ₹21,000, but you pay far more interest overall. If you can manage the higher EMI, a shorter tenure saves you a large sum.

The project follows a construction-linked payment plan, so your bank releases the loan in stages. During construction, you have two ways to repay.

• Pre-EMI means you pay only interest on the amount released, and full EMI starts at possession.
• Full EMI means you start paying principal and interest from the first release. This finishes your loan sooner and cuts total interest.

Pre-EMI keeps your early outflow low, which helps if you pay rent at the same time. Full EMI suits buyers who want to close the loan faster.

Banks look at your income, age, existing loans and credit score. Most lenders keep your total EMIs within 40% to 50% of your monthly take-home pay.

Adding an earning spouse as a co-borrower can raise your loan amount. A woman co-owner may also help you save 1% on stamp duty in Mumbai.

• Pay a larger down payment to reduce the loan amount.
• Keep your credit score above 750 to get the best rate.
• Compare offers from at least three banks before you pick one.
• Make part-prepayments from bonuses to cut your tenure.
• Ask your bank about a floating rate linked to the repo rate, which is 5.25% now.

Banks will sanction loans for this project once it receives MahaRERA registration. Leading banks now start home loan rates at about 7.15% to 7.25% for strong borrowers. Prestige projects usually have tie-ups with major banks, which speeds up approval. Ask the sales team for the list of approved lenders at launch.