For those who earn a monthly salary of 50-60 thousand, property purchase can be a preferable investment. In this salary bracket, one can easily afford a property worth Rs 25 Lakh- 35 Lakh with the help of home loan.
It would be better to go for a newly launched or under construction property as the prices are low in these stages. Localities like NH-24 and Noida Extension (Greater Noida West) have many options in the budget of 25-35 lakhs.
For the projects in NH-24 and Greater Noida West, developers are also offering the Deferred Payment Scheme and Subvention Scheme. Deferred payment scheme is the 40:60 plan and usually for a project that is about to complete. You have to pay 40% on booking and the rest 60% on possession. Some builders also offer 40:30:30 plan where you have to pay 40% on booking, 30% on a later date (say on structure completion) and the rest 30% at the time of possession.
Mr Sunny Katyal suggests some projects like Supertech Sports Republik and Fusion Homes. Sports Republik is a sports centered residential project in Noida Extension. With low Floor Area Ratio (FAR) and low density, the project offers ample open space and greenery. Fusion Homes is also located in Noida Extension and offers spacious and well planned residential flats. If you are earning Rs 50-60k a month, you will have several 2 BHK property options in the price range of 25-35 lakh. If you invest now, you can shift to your new home within 3 – 4 years.