Want To Buy House In India? How Many Crores Do You Need

Want To Buy House In India

A 29-year-old non-resident Indian (NRI) is turning to Reddit for advice on relocating back to India, citing job insecurity in the UK. The individual, who previously lived in NCR and Bengaluru, is exploring cities in India where they could continue working in IT remotely or locally. Cities like Noida, Lucknow, Patna, and Jamshedpur are considered, though the user finds major metros like Bangalore, Gurgaon, Delhi, and Mumbai too costly.

Budget Concerns and Property Expectations

The Reddit user is curious if ₹1.25 crore would be sufficient to buy property and settle in the Hindi belt, while still having funds remaining. The concern extends to whether adjusting to life in a Tier II city would be challenging compared to a metropolitan area.

Netizens Offer Diverse Recommendations

Responses from Redditors suggest several Tier II cities as viable options. Pune is recommended for its affordability and IT job opportunities, with a user suggesting renting as a cost-effective solution. Vadodara in Gujarat is highlighted for its affordable property prices, with a 2 BHK costing between ₹25-30 lakh.

HAVE A LOOK AT THE POST:

Is 1.25 CR enough to settle in India? Which city would be the cheapest to live in?
byu/Witty-Feedback-5051 inpersonalfinanceindia

For a unique lifestyle, some users recommend a nomadic approach—renting small apartments in Rishikesh, Goa, and Ladakh depending on the season. Kolkata also makes the list, praised for its inexpensive housing options and low cost of living.

Comparing Property Markets in Major Cities

The comparison of property markets across India’s top cities reveals significant differences:

• Mumbai: ₹1 crore can buy a compact 1 BHK apartment (about 400 square feet) in suburbs like Dahisar and Mulund. Studio apartments, though limited, are also available in this price range.
• Bengaluru: With ₹1 crore, buyers can secure a Grade A 1 BHK or 2 BHK unit ranging from 600 to 1,200 square feet in areas such as Electronic City and Whitefield.
• Delhi-NCR: This budget allows for a 1,000-square-foot 2 BHK in Noida or a 1,350-square-foot 3 BHK in Greater Noida.
• Kolkata: ₹1 crore offers substantial purchasing power, potentially buying a 2,000-square-foot 4 BHK in the northern part of the city or a 1,500-square-foot 3 BHK in South Kolkata.

The choice between Tier II cities and major metros depends on personal preferences and financial considerations. While major cities offer bustling environments and better infrastructure, Tier II cities provide affordable living options with a potentially more relaxed lifestyle.