Now consider the case of a KSFE chitty that lasts for 100 months. Let us take a Rs. 10000 x 100 months chitty as an example. In this chitty 100 people can enroll and one person will get prize money each month. Normally, the prize winner is decided by the draw of lots for roughly about the first 40 months (after that, it would be bidding). The winner will get Rs. 7 lakhs. One can provide the documents of a property as security for getting the prize money. Or one can give other forms of security, such as personal surety of government officials, gold, fixed deposit certificates, LIC policies, or a combination of all these.
Another illustration is provided in the picture below.