Free calculator
Installment plan calculator
Work out the payment plan for a plot, house or flat bought on installments: the down payment, each monthly or quarterly installment, the balloon payments and the payment on possession, with every due date and what the plan costs over the cash price.
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Calculator
Build your payment plan
Give the price and how the plan splits it. Each installment, every due date and the cost over the cash price follow as you type.
Your plan
- Down payment
- Rs 20 lakh20% at booking, Oct 2026
- Each balloon
- Rs 5 lakh6 payments of 5%, every 6 months
- On possession
- Rs 10 lakh10%, due Oct 2029
- Installments in all
- Rs 40 lakh40% of the price
- Total
- Rs 1 crore44 payments
- Plan length
- 3 yearsOct 2026 to Oct 2029
Against the cash price
- Cash price
- Rs 8,500,000
- Paid over the plan
- Rs 10,000,000
- Extra for paying in installments17.6% more than the cash price
- Rs 1,500,000
- The extra as a yearly rate
- 11.9% a year
Paid each year of the plan
- Year 1Oct 2026 to Oct 2027, 15 payments
- Rs 4,333,333
- Year 2Nov 2027 to Oct 2028, 14 payments
- Rs 2,333,333
- Year 3Nov 2028 to Oct 2029, 15 payments
- Rs 3,333,333
Schedule
Your payment schedule
Every payment in date order, with what you will have paid and what is left once it is made.
| No. | Due date | Payment | Amount | Paid so far | Balance left |
|---|---|---|---|---|---|
| 1 | Oct 2026 | Down payment | Rs 2,000,000 | Rs 2,000,000 | Rs 8,000,000 |
| 2 | Nov 2026 | Installment 1 | Rs 111,111 | Rs 2,111,111 | Rs 7,888,889 |
| 3 | Dec 2026 | Installment 2 | Rs 111,111 | Rs 2,222,222 | Rs 7,777,778 |
| 4 | Jan 2027 | Installment 3 | Rs 111,111 | Rs 2,333,333 | Rs 7,666,667 |
| 5 | Feb 2027 | Installment 4 | Rs 111,111 | Rs 2,444,444 | Rs 7,555,556 |
| 6 | Mar 2027 | Installment 5 | Rs 111,111 | Rs 2,555,556 | Rs 7,444,444 |
| 7 | Apr 2027 | Installment 6 | Rs 111,111 | Rs 2,666,667 | Rs 7,333,333 |
| 8 | Apr 2027 | Balloon payment 1 | Rs 500,000 | Rs 3,166,667 | Rs 6,833,333 |
| 9 | May 2027 | Installment 7 | Rs 111,111 | Rs 3,277,778 | Rs 6,722,222 |
| 10 | Jun 2027 | Installment 8 | Rs 111,111 | Rs 3,388,889 | Rs 6,611,111 |
| 11 | Jul 2027 | Installment 9 | Rs 111,111 | Rs 3,500,000 | Rs 6,500,000 |
| 12 | Aug 2027 | Installment 10 | Rs 111,111 | Rs 3,611,111 | Rs 6,388,889 |
Due dates count whole months from the booking month. A developer's own schedule may set exact days and round each installment to a round figure.
How it is worked out
From the price to each installment
Most plans for plots, houses and flats in Pakistan split the price the same way. A down payment secures the booking, usually 10 to 30% of the price, and some plans add a confirmation or allocation payment a month or two later. Equal installments, monthly or quarterly, run for two to five years, with larger balloon payments every six months on top. The last part of the price, often 10 to 20%, falls due on possession, when the plot is handed over or the house or flat is finished.
Every part except the installments is a percentage of the price, so the calculator takes those off first and divides what is left equally between the installments. In the example, 20% down, 6 balloon payments of 5% and 10% on possession take 60% of Rs 1 crore, and the Rs 40 lakh left, over 36 months, is Rs 111,111 a month. Due dates count on from the booking month: the first monthly installment falls a month after booking, and the first quarterly one three months after.
A balloon payment is a larger payment that falls due on top of the regular installments, usually every six months; plans also call them half-yearly installments. Balloons keep the monthly figure low and make a plan look lighter than it is. In the example they carry 30% of the price, Rs 5 lakh at a time, and without them the same plot would cost Rs 194,444 a month. Budget for each one as carefully as for the installments, because a late balloon is a late payment like any other.
Installments or cash
What paying in installments costs
The price on installments is almost always higher than the cash price, because the seller waits years for most of the money and carries the risk that some buyers stop paying. The difference is markup, whatever the plan calls it. In the example, Rs 1 crore on installments against Rs 85 lakh in cash is Rs 15 lakh more, 17.6% of the cash price.
A total in rupees does not say how dear a plan is, because it leaves out how long the seller waits. So the calculator also finds the yearly rate at which the plan's payments, each on its own date, are worth exactly the cash price on the day of booking. It is given the way a bank quotes the rate on a loan repaid monthly, so it can be set beside a home loan's rate or what your savings earn. For the example it comes to 11.9% a year over 3 years.
To compare two plans, put each one in with its own cash price and compare the yearly rates rather than the totals: a longer plan costs more in rupees but may charge less a year. Then compare the cash each needs in the first year and at its largest balloon, since that decides whether you can keep up. If a plan charges less a year than your money would earn meanwhile, or than borrowing would cost, paying in installments is the cheaper way; if it charges more, paying cash saves money, if you have it.
Before you book
What to check before you pay the booking amount
An installment plan ties you to one developer for years. These checks cost little, and they come before the first payment, not after it.
Check the scheme is approved
Ask the development authority for the area, such as the LDA in Lahore or the CDA in Islamabad, whether the scheme has its approval, often called the NOC. Most authorities publish lists of approved and illegal housing schemes.
Find your plot on the approved plan
The plot or unit number on your booking should appear on the scheme's approved layout plan or, for a flat, the approved building plan. A file with no plot number yet is a promise of a plot to come.
Read the booking form
It sets the surcharge on a late payment, how many missed payments lead to cancellation, what is deducted from a refund, and whether paying early earns a discount.
Ask what the price leaves out
Corner, park-facing and main-road plots usually cost extra, and development charges, possession charges and utility connections may be billed on top of the plan. Buying from another buyer adds the society's transfer fee, and advance tax is collected on property transfers; the property tax calculator works it out.
Pay into the developer's own account
Pay by cheque or bank transfer into an account in the developer's name, never in cash to an agent, and get a receipt for every payment.
Keep the allotment letter safe
The allotment letter names you and your plot or unit. With the booking form and every receipt, it is what a transfer, a resale or possession is checked against.
Terms
Words on a payment plan
- Down payment
- The part of the price paid at booking, usually 10 to 30%. It holds the plot or unit while the rest is paid on the plan. Also called the booking amount.
- Confirmation or allocation
- A second payment some plans ask for a month or two after booking, when the booking is confirmed or a plot is allocated.
- Balloon payment
- A larger payment on top of the regular installments, usually every six months. Also called a half-yearly installment.
- Possession
- The handing over of the developed plot or the finished house or flat. Most plans keep the last part of the price for it.
- Cash price
- What the seller takes for the same plot or unit paid in full at booking, also called the lump sum price. The gap to the plan's price is what paying in installments costs.
- File
- A booking for a plot of a given size in a scheme, without a plot number yet. The number comes later, by ballot or allotment.
- Allotment letter
- The letter that allots a numbered plot or unit to the buyer. Transfers and possession start from it.
- NDC
- No demand certificate: the society's or developer's confirmation that nothing is owed on a plot or unit, asked for before a transfer.
Questions
Installment plan questions
Still have a question?
Ask our team during Pakistan business hours, in English or Urdu.
+92 333 2466662Chat on WhatsAppHow is the monthly installment on a plot worked out?
Take the down payment, the balloon payments and the payment on possession off the price, then divide what is left by the number of installments. On a Rs 1 crore plot with 20% down, 6 balloon payments of 5% and 10% on possession, those take 60%, so the Rs 40 lakh left, over 36 months, is Rs 111,111 a month.
What is a balloon payment in an installment plan?
A larger payment that falls due every few months, usually every six months, on top of the regular installments. In the example, 6 balloons of Rs 5 lakh carry 30% of the price, which keeps the monthly installment at Rs 111,111; without them it would be Rs 194,444 a month. Missing a balloon counts as a missed payment, so plan for each one.
How much more do you pay for a plot on installments than in cash?
The gap between the plan's total and the cash price. In the example, Rs 1 crore on installments against Rs 85 lakh in cash is Rs 15 lakh more, 17.6% of the cash price. Over the 3 years of the plan, that works out to about 11.9% a year, the figure to set beside a loan's rate or what your savings earn.
Is it better to buy on installments or to pay cash?
Compare the plan's yearly rate with what the money would earn if you kept it, or what borrowing it would cost. If the plan charges less, paying in installments is the cheaper way; if it charges more, paying cash saves money, if you have it. Paying over time also means less of your money is with the developer if the project runs late.
Does the calculator work for a house or flat on installments?
Yes. Houses and flats are sold on the same kind of plan: a down payment, monthly or quarterly installments, balloon payments and a payment on possession. A flat sold before it is built may tie some payments to stages of construction rather than dates; enter those as balloon payments spaced roughly as the stages are expected.
What should I check before booking a plot on installments?
That the development authority for the area has approved the scheme (most publish lists of approved and illegal schemes), that your plot or unit number is on the approved plan, and what the booking form says about late payments, cancellation and refunds. Ask which charges the plan price leaves out, such as corner or park-facing extras, development and possession charges and transfer fees, and pay only into the developer's own bank account.
What happens if I miss an installment?
Most booking forms add a surcharge to a late payment and, after a set number of missed payments and usually written notices, let the developer cancel the booking and refund what was paid less a deduction. The terms differ from one developer to the next, so read them before you sign.
What is paid on possession?
The last part of the price, often 10 to 20%, due when the developer hands over the developed plot or the finished house or flat. Possession charges, utility connection fees and any extras still owed are often asked for at the same time, so keep some money aside beyond the last payment on the plan.
Keep every buyer's plan up to date
For developers and builders who sell plots, houses and flats on installments, Smart Construction keeps each buyer's schedule and account current, so you always know what has been paid, what is due and who is behind.
Call +92 333 2466662 during Pakistan business hours, or book online.