Prestige Rising EMI Calculator
A Prestige Rising EMI calculator works out the monthly instalment on a home loan for the project. It needs three inputs: the loan amount, the interest rate and the tenure. From these it returns the equated monthly instalment, or EMI. On the base prices of Rs 1.60 to Rs 3.50 Crore, the EMI gives a clear sense of the monthly outgo. This page explains how the calculation works & shows indicative EMIs for each configuration at Majiwada, Thane West.
How an EMI Calculator Works
An EMI is a fixed monthly payment that covers both the interest and a part of the principal. The calculator uses the standard formula, so you do not have to work it by hand. It needs three figures.
- Loan amount. The price less your down payment. Banks usually fund up to about 80% of the cost.
- Interest rate. The annual rate your bank offers on the home loan.
- Tenure. The repayment period, often 15 to 20 years.
As a rule of thumb, a loan at about 8.5% over 20 years costs roughly Rs 868 a month per Rs 1 Lakh borrowed. The longer the tenure, the lower the EMI, but the more total interest you pay.
Indicative EMI by Configuration
The table below is illustrative. It assumes an 80% loan, an 8.5% annual rate and a 20-year tenure. Your actual EMI depends on the rate your bank offers.
| Configuration | Indicative price | Loan (80%) | Indicative EMI* |
|---|---|---|---|
| 2 BHK | Rs 1.60 Crore | Rs 1.28 Crore | about Rs 1.11 Lakh |
| 3 BHK | Rs 2.45 Crore | Rs 1.96 Crore | about Rs 1.70 Lakh |
| 4 BHK | Rs 3.50 Crore | Rs 2.80 Crore | about Rs 2.43 Lakh |
*Illustrative only, at an assumed 8.5% per annum over 20 years on an 80% loan. Use your bank's actual rate and your own down payment for a real figure.
What Changes Your EMI
Three levers move the EMI up or down. It helps to test each one before you borrow.
- The interest rate. A higher rate raises the EMI. Even half a percent makes a visible difference on a large loan.
- The tenure. A longer tenure lowers the monthly EMI but raises the total interest over the loan.
- The upfront payment. A larger upfront payment means a smaller loan, which lowers the EMI.
So the same home can carry very different EMIs. Change the rate, the tenure or the down payment in the calculator and compare the results.
Beyond the EMI
The EMI covers only the home loan. A few costs sit outside it, and you should budget for them separately. The down payment of about 20% is paid up front. Stamp duty and registration are payable as applicable in Maharashtra. GST applies on an under-construction home. Floor-rise, view premium and parking are added on the cost sheet. Confirm all of these before you fix a budget.
Project at a Glance
Prestige Rising is a pre-launch high-rise township by Prestige Group, planned on about 8 acres near Kapurbawdi and Dhokali in Majiwada, Thane West. It is planned as 6 towers of G+45 floors with around 1,500 residences, in 2, 3 and 4 BHK formats, priced from Rs 1.60 Crore. Ghodbunder Road is about 1 km away and Thane West station about 6 km. The project is at the pre-launch stage, so prices are indicative and approvals are still being confirmed. Buyers should verify the RERA details on the MahaRERA portal before booking.
FAQs
It takes three inputs: the loan amount, the interest rate and the tenure. From these it returns the fixed monthly instalment that repays both the interest and the principal over the loan period.
On an 80% loan of about Rs 1.28 Crore, at an assumed 8.5% over 20 years, the EMI is roughly Rs 1.11 Lakh a month. This is illustrative, so use your bank's actual rate for a real figure.
On the same assumptions, a 3 BHK works out to about Rs 1.70 Lakh a month and a 4 BHK to about Rs 2.43 Lakh. Both change with the rate, the tenure and your down payment.
Raise the down payment, choose a longer tenure, or secure a lower interest rate. A longer tenure cuts the monthly EMI but raises the total interest you pay over the loan.
No. The EMI covers only the home loan. Stamp duty, registration and GST are paid separately, along with the charges on the cost sheet such as floor-rise and parking.
Banks usually fund up to about 80% of the cost, subject to your income and credit profile. The rest is your down payment. Confirm the exact amount and rate with your bank.
