Can I make Rs 1.6 crore in 15 years to buy a home?

I am 26 years old. I am planning to invest Rs 20,000 per month in equity mutual funds. I want to invest Rs 4,000 in each of the following schemes.

Motilal Oswal Multicap 35 Fund - Direct (G)
Kotak Select Focus Fund - Direct (G)
HDFC Mid-Cap Opportunities Fund - Direct (G)
Aditya Birla Sun Life Frontline Equity Fund (G)
Franklin India Smaller Companies Fund (G)

My investment horizon is 15 years and I can take moderate risk. I want to make a corpus of Rs 1.2 crore for my home (current cost Rs 50 lakh - considered inflation). Please let me know if these schemes are fine.
-- Avinash Reddy

Manish Saluja, Chief Financial Planner, Prime Wealth Advisors, responds:

At a moderate inflation rate of 8 per cent per annum in the real estate sector, a property costing Rs 50 lakh today will cost approximately Rs 1.6 crore after 15 years. To accumulate this amount through equity mutual funds, at an annual returns of 12 per cent, you need to invest Rs 33,600 per month.

The schemes you have selected are fairly good. But I would suggest to replace Aditya Birla Sun Life Frontline Equity Fund with SBI Bluechip Fund and HDFC Mid-Cap Opportunities with Mirae Asset Emerging Bluechip Fund.