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Noida Homes: Now an Rs 80 Lakh Dream?
19 Jul
Summary
- A 2BHK apartment in Noida is priced around Rs 80 lakh.
- A Rs 55-60 lakh home loan requires a Rs 1 lakh monthly salary.
- Monthly EMIs for these homes range from Rs 60,000 to Rs 65,000.
A recent viral calculation by content creator Rishi Shandilya has highlighted the steep cost of owning a two-bedroom apartment in Noida, with prices reaching approximately Rs 80 lakh. Shandilya's breakdown indicates a substantial down payment of Rs 20 lakh to Rs 25 lakh is necessary. The remaining amount, typically financed through a home loan of Rs 55 lakh to Rs 60 lakh, requires a monthly salary of Rs 1 lakh to Rs 1.2 lakh.
Financing such a purchase leads to estimated monthly EMIs between Rs 60,000 and Rs 65,000, depending on loan terms. These figures have resonated widely, with many users expressing shock at the rapid increase in Noida's property values. The city's real estate market has experienced significant growth due to infrastructure developments and rising demand.
Beyond the advertised price, buyers face additional costs like registration, brokerage, and interiors, further escalating the total expense. This financial reality is raising concerns among young professionals about the increasing difficulty of homeownership in Noida, even for those earning substantial incomes.
