New Delhi, Sept. 28 -- For many young Indians, buying a home is no longer an automatic financial milestone. The aspiration remains, but the numbers have become harder to work with. Property prices in several large cities have risen faster than incomes, affordable homes are becoming harder to find and the upfront amount needed to enter the market can itself take years to accumulate.

"The challenge is less about the aspiration to own a home and more about the arithmetic of getting there," said Samir Dewan, group chief executive officer at Bajaj Capital. Young professionals are also balancing rent, education loans, emergency savings and investments, while career mobility can make them reluctant to commit to one city or property early in the...