Should I invest more to achieve my target corpus?

I have invested Rs 6,663 in three mutual fund schemes. I have invested Rs 2,221 each in DSP BlackRock Tax Saver Fund (Growth), Mirae Asset Emerging Bluechip Fund (Growth), and SBI Bluechip Fund (Growth). I want to invest extra Rs 3,000-5,000 per month for a period of five to six years to get a corpus of approximately Rs 15 lakh for down payment of my house. Please tell me whether this target amount is achievable with this investment or should I put more money via SIPs?
--Rahul Tiwari

You have not mentioned when you started investing. So, assuming an annual return of 12 per cent per annum, you would be able to create a corpus of Rs 5.49 lakh in five years. If your extra investment horizon of Rs 5 lakh makes 12 per cent annual returns, you would be able to create another corpus of Rs 4.12 lakh in five years. You might get lucky and you may earn more on your investment. However, the best strategy is to give more time to your investments to grow. With time in hand, the power of compounding will help you to multiply your money.

You may take a look at our recommended equity mutual fund SIP portfolios.