Home Loan Calculator

The bank funds the flat, not the purchase

A sanction letter tells you two things: the loan amount and the EMI. It says nothing about the money that leaves your account before the loan does anything, and that gap is where first-time buyers get caught. On a ₹60 lakh flat with an 80 percent loan, the cheque you write in the first month is not ₹12 lakh. It is closer to ₹16.5 lakh, because the sub-registrar wants stamp duty and registration in full before the deed is signed, and the bank wants its processing fee before it disburses a rupee.

So this calculator starts from the price and works forward to both figures: the EMI you will live with for twenty years, and the cash you need on the day.

What each box means:

• Property price is the agreement value, the figure that goes on the sale deed. Not the brochure rate, and not the price after the builder moves the “discount” into parking or interiors. If the agreement value is below your state’s circle rate (ready reckoner rate in Maharashtra, guidance value in Karnataka), duty is charged on the circle rate instead.
• Down payment is your own contribution. Loan equals price minus this.
• Interest rate is the floating rate the bank quotes you, linked to the repo rate. SBI, HDFC and most others publish a card rate and shave something off it for a CIBIL score above 750.
• Tenure in years. Twenty is the most common; thirty if your age allows it.
• Stamp duty as a percentage of the price. The default of 6 percent is Delhi’s rate for a man. See the table below and change it.
• Registration charge, usually 1 percent. Maharashtra caps it at ₹30,000, so on a ₹60 lakh flat in Pune you would enter 0.5 rather than 1.
• Processing fee as a percentage of the loan. Banks charge 0.25 to 0.5 percent, and 18 percent GST sits on top of that. The calculator does not add the GST; enter 0.59 instead of 0.5 if you want it in the figure.

Stamp duty is on the agreement value, so a bigger down payment does not touch it

Stamp duty is a state tax and every state sets its own. The figures below are what I last checked in September 2026; they move with state budgets, so confirm with the sub-registrar’s office or your bank’s legal team before you count on them.

State	Stamp duty on a residential purchase	Registration
Maharashtra	5%, plus 1% metro cess in Mumbai, Pune, Thane and Nagpur	1%, capped at ₹30,000
Karnataka	5%, with surcharge and cess taking it slightly higher	1%
Delhi	6% for a man, 4% for a woman, 5% for joint ownership	1%
Tamil Nadu	7%	Higher than most states; check the current table
Uttar Pradesh	7%, with a rebate for women buyers on smaller values	1%

Several states, Maharashtra and Delhi among them, charge a woman as sole or first owner a lower rate. On a ₹60 lakh flat in Delhi that is ₹1.2 lakh, which is a real reason to put your wife’s name first and not a formality.

The part people miss is the base. Stamp duty and registration are charged on the agreement value, not on the loan. Raise the down payment from ₹12 lakh to ₹15 lakh and the duty stays at ₹3,60,000 to the rupee; the only thing that changes is that you now need ₹19,42,500 upfront instead of ₹16,44,000. A larger deposit cuts your interest and your EMI (₹39,052 instead of ₹41,656), and it does nothing at all to the state’s share.

One consolation, for the old regime only: stamp duty and registration paid in FY 2025-26 are deductible under Section 80C in the year of payment, inside the ₹1.5 lakh limit. In practice most of it goes unused, because PF and LIC premiums have already filled the cap. Run your own numbers in the income tax calculator before assuming the refund.

₹60 lakh flat, ₹12 lakh down: both numbers side by side

loan          = price - down payment                      = 48,00,000
EMI           = loan × i × (1+i)^n / ((1+i)^n - 1)        i = 8.5 / 1200, n = 240
stamp duty    = price × 6%                                = 3,60,000
registration  = price × 1%                                = 60,000
processing    = loan × 0.5%                               = 24,000
cash upfront  = down payment + stamp duty + registration + processing

Monthly EMI	₹41,656
Cash needed upfront	₹16,44,000
Loan amount	₹48,00,000
Stamp duty	₹3,60,000
Registration	₹60,000
Total interest	₹51,97,324
Total cost of the home	₹1,16,41,324
Loan-to-value	80.0%

The ₹16.44 lakh is 27 percent of the price, and ₹4.44 lakh of it (duty, registration and the fee) buys you no equity at all. It is gone the day you sign.

The ₹51.97 lakh of interest is a separate shock: over twenty years you pay the bank almost the price of the flat again. Prepayment is the answer to that, and the EMI calculator shows what an extra ₹5,000 a month does to a loan this size.

RBI’s loan-to-value ladder and what 80 percent actually means

RBI caps how much of a property a bank may finance, and the cap depends on the size of the loan, not the price of the flat:

Loan amount	Maximum loan as a share of value
Up to ₹30 lakh	90%
₹30 lakh to ₹75 lakh	80%
Above ₹75 lakh	75%

The default example lands exactly on the line: a ₹48 lakh loan, 80.0 percent of value, in the 80 percent band. Drop the down payment to ₹10 lakh and the loan becomes ₹50 lakh at 83.3 percent, which no bank will sanction. You either find the extra ₹2 lakh or find a cheaper flat. The calculator shows your loan-to-value so you can see which side of the line you are on.

Two things make the real cap tighter than the table. First, “value” for this purpose is the bank’s own valuation or the agreement value, whichever is lower, and the bank’s valuer is conservative. If the valuer says ₹57 lakh, the 80 percent is of ₹57 lakh and the difference is yours to find. Second, stamp duty and registration are excluded from the value for the LTV test, so you cannot borrow them. Many lenders also sit below the RBI ceiling as a matter of policy, especially for under-construction property. If income is the tighter constraint rather than LTV, the home loan eligibility calculator works from your salary instead.

What is still not in the upfront figure

The calculator covers the four costs every buyer pays. Depending on the property, add:

• GST on an under-construction flat: 5 percent of the agreement value (1 percent for affordable housing), with no input credit to you. A ready flat with an occupancy certificate attracts none.
• Brokerage on a resale, usually 1 to 2 percent plus GST.
• Mortgage registration (MODT): some states charge a fraction of a percent of the loan to register the bank’s charge on the property. Maharashtra does; ask your bank what applies.
• Legal and valuation fees, a few thousand rupees each, billed by the bank separately from the processing fee.
• Society transfer charges and maintenance deposit on a resale in a registered society.
• Home loan insurance, which the bank will push hard at disbursement. It is optional.
• TDS under Section 194-IA: on a price above ₹50 lakh, you deduct 1 percent from what you pay the seller and deposit it through Form 26QB. Not an extra cost, but a form that must be filed within 30 days of the month-end, and a fine if you forget.

I would keep a further 2 to 3 percent of the price in hand beyond what this calculator shows.