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‘Can I afford a home of ₹2.3 crore’: Woman earning ₹2.6 lakh monthly seeks advice on buying Bengaluru flat
The woman shared that in addition to having a stable income, she also has nearly ₹70 lakh in savings.
A 31-year-old woman’s quest to own a ₹2.3 crore home in Bengaluru has sparked a polarising debate on social media regarding financial stability and the city's soaring real estate prices. Despite earning ₹2.6 lakh per month and having ₹70 lakh in savings, the buyer expressed concerns about job security in the age of AI, prompting people to weigh whether the massive investment is a bold step toward security or a financial risk.
“Can I afford the home of 2.3 cr,” the Reddit user asked, adding, “I am single, 31 F, income 2.6lpm after tax, home considering of 2.3cr all inclusive. posession will be in 2030. till then I will have to pay rent of 50k. can I buy this? I am not looking at what will be the appreciation since I am planning to occupy it once it's ready.”
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The woman explained that the flat is near a renowned society in Whitefield, Bengaluru.
She explained, “I do not have other obligations except for keeping myself fed and alive- hopefully it will remain so. I understand that AI will come and wipe out jobs (it has already started doing that), but I have no home. I can't call any place home. I need a place which I can call home and I really really want to live at nice place which I can tell with pride.” She concluded the post by sharing that she has nearly ₹70 lakh in savings.
What did social media suggest?
An individual advised, “This doesn’t look manageable imo. What are the payment milestones? I personally subscribe to the idea of buying ready-to-move-in apartments. It’s far less stressful, i.e. financial and potential developer delays/issues. The so-called ‘lower price’ of new launches isn’t worth it.” The OP responded, “What good properties are available. I have been looking for homes for a long time but I just don't find good.”
Another suggested, “OP - do it. You'll have a couple of years where cash flow is tight, but if you get pay increases from here till 2030, you're fine. You're just about uncomfortable right now. If you wait till you're fully comfortable, you could get priced out. I know I'm a Random Internet Stranger, but if you like the house and it otherwise works for you, then put 30 lakhs away for later, pay the 30L DP, and start saving like hell from here.”
A third commented, “In 4 years, your take-home salary will be between 3.5 to 4 lakhs/month, assuming you just stay in this company. Since you are not a spendthrift, you will have a nice apartment and not be under any real strain. Real estate may not give you magical returns for the next few years, but you will surely have a lot of equity and your ready apartment will be worth about 3.5 to 4 cr types if the project is by a reputed builder and is well-appointed.” The OP replied, “The project is by tier 1.”
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A fourth wrote, “Please don't, ₹2.3 cr flat in Bangalore is a terrible investment as is, but also if you are looking to stay yourself, it's even worse. If you are from Bangalore or Karnataka itself and looking to settle down for at least the next 20 years, buy a plot and build a home, it will appreciate for sure. Flats may have appreciated a few years in between, but it won't continue.”
(Disclaimer: This report is based on user-generated content from social media. HT.com has not independently verified the claims and does not endorse them.)
