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- very simple equation.
60 times of your salary. + - 3-4 Lks is okay.CommentQuote0Flag
- Forget eligibility.. banks will always be willing to lend you more, if you have decent repaying capability. From a buyer's perspective, you don't want to be neck deep in debt. Save some money for down payment, and take a loan for the rest. The loan EMI should not exceed 1/3rd of your household takehome salary. Also, the loan should not be stretched to 20 years or more... 10-15 years loan is what one should aim for, and as you go along, plan to foreclose the loan within 7-10 years.CommentQuote0Flag