Noida 2BHK Price: How much salary is required to buy a 2BHK flat in Noida? In the viral video, a flat worth Rs 75-80 lakh, down payment of Rs 20-25 lakh and EMI of Rs 60-65 thousand has been claimed.
Noida Property News Viral Video: Buying your own home in Noida is still the dream of millions of people, but rising property prices have made this dream more challenging than ever. Recently, a video viral on social media has given new discussion to this issue. The video claims that buying a simple 2BHK flat in Noida requires not only good savings but also an income of around Rs 1 lakh or more per month.
What was claimed in the viral video?
In the video shared on Instagram account @rrrealtywithrishi, real estate expert Rishi Shandilya explained the complete economics of buying a 2BHK flat in Noida. According to him, the price of many small 2BHK flats in the city, which people jokingly call “matchbox” or “kabutarkhana”, has reached Rs 75 to 80 lakh.
It was told in the video that banks generally do not give full loan amount. In such a situation, the buyer may have to arrange down payment of around Rs 20 to 25 lakh himself. Raising this amount becomes a big challenge for most middle class families.
Also read: DMK played a new bet on Delimitation Bill! Big demand placed regarding South India
How much salary and how much EMI claimed?
According to the video, if a person wants to take a home loan of Rs 55 to 60 lakh, then banks also look at his monthly income in the same proportion. It has been claimed that to get a loan of this amount approved, a monthly salary of around Rs 1 lakh to 1.2 lakh may be required. However, the actual loan amount depends on the bank’s policies, credit score, existing financial obligations and other eligibility parameters.
If this much loan is available, then the monthly EMI can reach around Rs 60 thousand to 65 thousand. In such a situation, a large part of the family’s income may be spent only on repaying the home loan, due to which other household expenses and savings are likely to be affected.
Debate broke out on social media
After the video went viral, people gave different reactions on social media. Many users say that it is becoming increasingly difficult for the middle class to buy a house amidst the current prices. At the same time, some people also raised questions on the high prices of small flats.
On the other hand, many people believe that the metro network, expressways, increasing presence of IT companies and employment opportunities in Noida have increased the demand for real estate. For this reason, there is a continuous rise in property prices here. At present, the claims made in the viral video are based on analysis shared on social media and the actual prices may vary depending on the loan eligibility and EMI project, bank and buyer’s profile.
Also read: Sonam Wangchuk Case: Delhi High Court rejects demand to send her to private hospital, issues notice to police