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Home / Buy and Sell / Resale Property / Currently I’m staying in a rented apartment with my friends. I earn 35000 per month. I want to buy a flat in Bangalore. How can I buy a flat in an expensive city like Bangalore?
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Currently I’m staying in a rented apartment with my friends. I earn 35000 per month. I want to buy a flat in Bangalore. How can I buy a flat in an expensive city like Bangalore?

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Bangalore
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-1 2020-08-18T10:19:42+00:00
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If you’re planning to buy a flat, you will have to look for flats below 25 lakhs in Bangalore. However, you should know that no bank will give you a 100% loan so plan on having a savings of at least 20%. Now if you have enough savings, you can choose to buy a flat which falls in between 15 lakhs to 20 lakhs. There are many affordable housing builders in Bangalore but you should know that these types of properties are located at extreme outskirts. Assuming the rate of interest is 7%, so the EMI would be around 16,000 to 20,000 per month. Now that the calculations are clear, there are much affordable housing schemes in Bangalore like:

  1. Artha Neo Midas located in Hoskote, Bangalore. Here, you can get 1 BHK flat for approximately 16 Lakhs. However, the location is very far from the main city

  2. Ashish Green Phase I in Varthur, Bangalore will cost you approximately 17 lakhs for 1 flat.

  3. Shriram Codename Dil Chahta Hai in Attibele, Bangalore will cost around 23-24 lakhs for 2 BHK.

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0 2020-08-18T10:15:50+00:00
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Buying a flat is a huge decision and takes a lot of thinking. Considering that you are young and there is great potential for an increase in your salary, it is better to invest in SIP or mutual funds because:
  • You can invest small amounts in such investment types.
  • The risk is lower as you will have no liability of paying the EMI
  • You can move around flexibly to any part of the city if you keep on renting.
Nevertheless, here are a few options if you still plan to go ahead:
  1. GM Orchid Enclave located in Electronic City Phase I, Bangalore. Here the rate for 1 BHK is around 21 Lakhs.
  2. Svamitva Emerald Square in Bommasandra, Bangalore will cost you around 23 lakhs for 1 BHK.
  3. Ashish Green Phase I situated in Varthur, Bangalore. The rate for 1 BHK at Ashish Green Phase I is approximately 17 lakhs.

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