- Rising Noida property prices challenge salaried professionals' ability to buy homes
- Compact 2BHK apartments in Greater Noida West cost between Rs 75 lakh and Rs 80 lakh
- Buyers need Rs 20-25 lakh down payment before applying for a home loan
Owning a home in Noida used to feel possible. However, for many salaried professionals today, it doesn't. A Noida content creator has sparked a conversation about the city's rising property prices after breaking down what it takes to buy even a compact two-bedroom apartment. His calculations suggest that prospective buyers may need to earn more than Rs 1 lakh a month and have substantial savings just to get started.
In a video shared on Instagram, Rishi Shandilya explained the estimated cost of purchasing what many people jokingly refer to as a "matchbox-sized" or "pigeonhole" 2BHK apartment, especially in Greater Noida West.
According to Shandilya, such apartments are now priced between Rs 75 lakh and Rs 80 lakh despite their relatively small size. He said buyers would typically need to arrange a down payment of around Rs 20 lakh to Rs 25 lakh before applying for a home loan.
Based on those figures, he estimated that a buyer would need a monthly income of roughly Rs 1 lakh to Rs1.2 lakh to qualify for a home loan of about Rs 55 lakh to Rs 60 lakh. That would translate into an estimated monthly EMI of Rs 60,000 to Rs 65,000.
The video's caption reiterated that even modest apartments now come with a price tag of nearly Rs 80 lakh, making homeownership increasingly difficult for many first-time buyers.
Watch the video here:
The post struck a chord with many Instagram users, with several agreeing that soaring property prices have made buying a home in Noida an increasingly challenging goal.
