Home loan EMI: How much salary do you need for a ₹50 lakh, ₹75 lakh or ₹1 crore home?

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 ₹50 lakh, ₹75 lakh, or ₹1 crore.

How much salary do you need to buy a home?

Gaurav Garg, Head of Research at Lemonn, explained the income requirements for different property values.

“Buying a home worth ₹50 lakh, ₹75 lakh or ₹1 crore requires careful assessment of income, savings and long-term financial commitments. Assuming a 20% down payment, a 20-year home loan at an illustrative interest rate of 8.5% would result in monthly EMIs of approximately ₹34,700, ₹52,100 and ₹69,400, respectively. To keep the EMI within 35–40% of monthly take-home income, buyers should ideally earn around ₹87,000– ₹1 lakh for a ₹50 lakh home, ₹1.3– ₹1.5 lakh for a ₹75 lakh home, and ₹1.74– ₹2 lakh for a ₹1 crore home.”