New Delhi, Oct. 16 -- Buying a home is a major financial decision that requires long-term planning and a significant financial commitment. Affordability depends on more than just the property's price. Before deciding how much to borrow, buyers must assess their monthly income, down payment, loan tenure, existing debt and other financial obligations.

This is important because a home loan requires careful financial planning. If a borrower struggles to manage repayments, it can lead to financial complications and adversely affect their credit score and overall credit profile. With these factors in mind, let us examine how much monthly salary an individual needs to afford a home priced at Rs.50 lakh, Rs.75 lakh, or Rs.1 crore.

Gaurav Garg, ...