Owning a home at a decent location with good connectivity and in budget is still a dream for many working professionals, considering the constantly changing dynamics of the market and growing property rates. It takes a lot of time, patience and maybe your lifetime savings to buy a luxurious home in a big city.
Purchasing a new apartment is indeed a big decision and has even become a top-most priority for any millennial working professional, especially now when the COVID-19 pandemic has brought a palpable shift in every sector, major or minor, across the world.
Have you ever window-shopped for properties with big price tags in the cities like Delhi, Mumbai, Chennai or Bengaluru? Well, most of us have done it, at least once in our life. But it’s time to stop imagining and start working on your dreams.
On that note let’s discuss what kind of a house you can get if you have the budget of Rs 1 crore in the cities like Mumbai, Delhi and Bengaluru.
Affording a decent abode in Mumbai at a good price range might be difficult but not impossible. South Mumbai, the original ‘town’ of big city, still continues to be the epicentre of culture and socializing. With the great view of a sea to one side and the glimmering skyline to the other, Marine Drive and Worli are beautiful places to live in. But the cost here, considering the fancy aesthetics and luxurious infrastructure, is over 1 lakh rupees per month in rent.
On the other hand, if we talk about Bandra, one of the poshest areas of Mumbai and home to several eminent Bollywood personalities, the least you could shell out to purchase a small 1BHK apartment of 250 square feet is Rs 1 crore. While in Andheri, the same budget, i,e Rs 1 crore, may fetch you a 500 square feet one-bedroom flat, the suburbs like Thane and Navi Mumbai could offer you a better deal. Under the budget of Rs 1 crore, one can get 2 BHK or even 3 BHK in Thane with apartment area ranging from 900-1500 square feet. The prices of apartments in Mumbai or flats in Mumbai may vary on the basis of area.
When it comes to the capital city, 1 crore could easily get you a spacious two-bedroom or may be three-bedroom flat of 1250-1700 square feet. While there is no shortage of property options in Delhi, the prices of them will vary as per the buyer’s demands in terms of location, flat size and other factors. Overall, the maximum number of houses available in Delhi are in the bracket of Rs 1-5 crore.
Talking about the outskirts of Delhi, a prospective home buyer could get 1550 sq. ft 3 BHK apartment in Dwarka. In Indirapuram, the same budget could offer you 1700 square feet residential unit.
If you are looking for apartments in Delhi-NCR or flats in Delhi, 1 crore would be a good amount of budget for it.
Every year, hundreds of youngsters migrate to India’s Silicon Valley for studies or because of work purpose. Thanks to the continuously growing number of business ventures in the city, Bangalore, also known as Bengaluru, is now considered to be an active real estate. There are both affordable and luxurious apartments in Bangalore, ranging from 10 lakh to 10 crores. In Bengaluru, residential properties cost around ₹ 5,000-7,000 per square feet.
If you are looking to buy a property in Whitefield, one of the most expensive areas of Bengaluru, it will cost you approximately Rs 5,930 per sq.ft. So, one can say that flats in Bengaluru are a bit expensive, depending on the locality you choose.