First, you should try to find out the current cost of land in the area where you would like to build a house. For example, if the land cost Rs 50 lakh today, it will cost around Rs 81.44 lakh after 10 years when you account for an annual inflation of 5%. In this case, you may have to invest around Rs 35,000 every month to create Rs 81.44 lakh at the end of 10 years. We have assumed an annual return of 12% for the calculation.You are currently investing in a tax saving mutual fund scheme. Investments in tax saving schemes or ELSS qualify for tax deductions of up to Rs 1.5 lakh under Section 80C.

Source: Economic Times January 24, 2020 08:48 UTC