What is the ideal salary and financial plan to purchase a ₹2 crore house in Bengaluru?

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In Bengaluru, apartment prices are routinely touching ₹2 crores, where many homebuyers are finding a solution to how much income is needed to buy a home. The possibility of buying such homes in the city has sparked a lively debate on social media platforms.

Users have started to share their income levels, EMI amounts, and various financial strategies to know the risks and realities of buying a home in Bengaluru’s soaring real estate market.

What financial strategies will support a ₹2 crore home purchase

Many buyers are wondering which salary level can easily help in buying a ₹2 crore purchase. People with sky-high paychecks, people with a mix of dual incomes, careful EMI planning, and family support can buy ₹2 crore easily.

But some buyers also cautioned not to fall for any marketing hype and buy an overpriced flat. A Redditor user shared that they had a 3BHK flat in Dommasandra that they bought was ₹78 lakh two years ago. With an income of ₹4 lakh per month, it is not even possible to imagine spending much more than that. It is really a big surprise to see people buying for ₹2 crores.

Another buyer who earns ₹3 lakh a month admits that he is struggling with an EMI burden for a ₹90 lakh home, which was purchased in 2023. Many people feel that a ₹2 crore home will result in long-term EMIs. But with the fear of job loss, it is highly impossible.

Family savings

Some people highlighted that family savings will help in buying such luxury homes. A user narrates that both of them earn ₹15 lakh CTC a year and bought a ₹1.1 crore purchase with their own savings, along with ₹20 lakh from their parents.

A buyer who bought a ₹1.05 crore flat explained how salary hikes since 2018, COVID times’ low interest rates, and bonuses have aided in closing a ₹75 lakh loan they bought for their home in just 7 years.

Double Income

If both spouses work, families can easily stretch budgets in a better way. With two salaries, women are shaping the budgets and leading the family financially and creatively.

Rent versus buy: Which is best

Many people argue that renting is a better choice than buying a house, as it will reduce stress. If you are planning to live for 20 years, taking a loan is the best idea, as EMIs may be stressful.

Conclusion

Buying a ₹2 crore home is a mix of dual incomes, family savings, EMI management, and risk appetite. Buyers must not fall for marketing hype, and the peace of mind of owning a flat in their budget in upcoming projects like Prestige Evergreen is worth more than a high-priced flat.

Prestige Group prelaunch project is Prestige Evergreen.

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