Rs 50 Lakh Budget: Where Can you Buy Home In Delhi-NCR?

With property prices in Delhi-NCR skyrocketing, finding a home within a budget has become a challenge for many. In an exclusive interview, an industry expert outlined opportunities for buyers looking to invest in the range of Rs 50-70 lakh, focusing on peripheral towns and emerging infrastructure hubs around the region.  

Budget-friendly property locations

Zaidi highlighted that central and established parts of Delhi-NCR have already witnessed notable price hikes, it is difficult to find properties within this budget. However, towns along major highways leading out of Delhi, such as Sonipat, Panipat, and Karnal along the Chandigarh highway, remain viable options. These areas offer plotted developments and affordable housing options in the Rs 50-70 lakh range.  

Greater Noida, once known for its affordability, has seen prices climb beyond this range for decently sized units. As a result, buyers are exploring areas accessible within an hour to an hour-and-a-half drive from Delhi, leveraging emerging infrastructure projects such as the Urban Extension Road 2 (UER2).  

Zaidi said the upcoming UER2 is expected to enhance connectivity to areas along the Chandigarh highway and other peripheral locations. Similarly, regions along NH-8 towards Jaipur are also seeing an uptick in plotted developments and apartment complexes within this budget.  

"In smaller towns, property prices can be as low as Rs 20-50 lakh, depending on the location and infrastructure. However, buyers need to have a clear understanding of the area's economic activity and accessibility," he added. While affordable housing plots are available, it's essential to set realistic expectations and make informed decisions based on market knowledge.

Advice for first-time buyers

For first-time buyers in their early careers, the expert stressed the importance of entering the real estate market early, even if it means starting with smaller properties in peripheral areas. He advised spreading investments across asset classes and avoiding over-leveraging. For those unable to afford a home outright, saving for the 20-25% down payment while utilising loans for the rest is a practical approach.  

"A buyer earning Rs 1 lakh per month can allocate up to 50% of their net take-home salary for EMI payments. With banks financing 75-80% of the property value, the buyer can secure a Rs 50-70 lakh home with an initial down payment of Rs 10-15 lakh," he explained.

Real estate prices increase over time, making it difficult for late entrants to get what they want in budget. Unlike equities or gold, which allow smaller investments, real estate requires a significant upfront commitment. Starting early ensures buyers can benefit from appreciation and secure a foothold in the market.