I am planning to buy a villa/house in Bangalore. I am totally new to this and have almost no idea on property and related plannings.
I would like to know by considering below factors, how much money I can invest/spend to buy a property in Bangalore. I know this is purely related with our financial situation, but still I am confused like, if I go for something blindly, like a big loan and all...it may end up in a worst situation and make my life harder.

so, the situation as of now is:

1. has around 10 lac savings on bank
2. Now in Canada, saving approximately 1 lac INR/month after all deduction and living expenditure. Expected to continue this for another 6 months - 1 year. (may be more than that)
3. Once I am back in India I would get approximately around 60K INR/month before taxes and expenses.
4. Has to pay some insurance premiums but not more than 60K a year as of now.
5. No other major investment/land/property etc.

Can you tell me now, how much loan amount I can go for and what should be my budget when looking for a villa/house in Bangalore?

thanks in advance,
psf :bab (24):
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  • most of the villas are 1+ crore, few which are resonably priced are way out of the town. For affordability, usual rule of thumb is EMI should not be more than 40% of your take home salary.
  • Thanks kran7ue
    That is a good rule of thumb, I guess...
    what about buying plot and building an house? will that be less expensive?
    my friend did the same last year in Bangalore somewhere near Nagwara (ring road)
    the total cost was (land,registration,construction all) 40 lac.

    Hi, I am a brand new member.
    If you are an IT professional, wanting to work or buy in and around Electronic City, Marathalli, Hosur Road, Sarjapura Road, Outer Ring Road in Bangalore - i.e., south Bangalore, I can give you ideas. I am not a broker. I DONT charge any brokerage/commission. I am an individual with a desire to help/assist/guide NRIs or Non-Bangalore-Residents. Chandapura-Anekal road is just 10 kms away from Electronic city and you get beautiful brand new readymade villas in gated communities for under 60 lakhs. Problem is, I dont know how frequently I will log in. Ravi Kanth