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How Much CTC Do You Need to Buy a ₹1 Crore Home in India?

This article explores how your CTC translates to in-hand salary, maximum loan eligibility, and the right down payment for your dream house.

How Much CTC Do You Need to Buy a ₹1 Crore Home in India?


Posted on 27 Nov 2024
Author: Sayan Sircar
8 mins read
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This article explores how your CTC translates to in-hand salary, maximum loan eligibility, and the right down payment for your dream house.

How Much CTC Do You Need to Buy a ₹1 Crore Home in India?

📚 Topics covered:

What is the CTC needed to buy a 1 crore house in India?

30 lakhs at-least.

For a house bought via home loan, the maximum cost of the house is determined by the amount of loan the bank will provide. Most banks do not provide a loan that exceeds more than 30-40% of the borrower’s (either single or jointly) combined monthly income.

We have covered home-loan eligibility numbers in detail here: Home Loan Eligibility for Joint Applicants: how to buy a bigger house

What is the right amount of downpayment for a house?

There are two schools of thought on this topic:

  • as much as you can put down so that you take the least amount of loan
  • take the maximum loan and then invest the rest for long-term goals like retirement

The best amount of downpayment is more nuanced and is completely dependent on the personal situation of the family buying the house. Our view in this article is to keep things simple and assume that the buyers are looking to get by with the least amount of down-payment, around 20% of the cost of the house and take the maximum loan.

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How does CTC translate to cost of the house?

CTC to in-hand; in-hand to loan-eligibility based on maximum monthly EMI; EMI to maximum loan amount

House price = Down-payment + Maximum loan amount

This table shows a mapping of CTC numbers (in the new tax regime) to the cost of house. We have used the Arthgyaan new-vs-old tax-regime calculator for going from CTC to in-hand salary: Which is the best tax regime to choose from April?.

Note: To keep things comparable across companies, we have used gross income as a proxy for CTC. In reality, depending on the salary structure, the actual CTC will be higher than the gross income.

We have also assumed around 1% EMI (1crore loan has 1 lakh EMI) as per our [home-loan EMI calculator] (/blog/how-much-emi-do-i-have-to-pay-for-my-home-loan.html) and assumed that the bank lends 75% of the property price.

What is the house price for CTC up to 50 lakhs?

All the numbers in the tables below are in ₹ lakhs.

CTC In-Hand EMI Loan House price
10 0.80 0.32 31 42
15 1.14 0.46 45 60
20 1.43 0.57 57 75
25 1.72 0.69 68 91
30 2.01 0.80 79 106
35 2.29 0.92 91 121
40 2.58 1.03 102 136
45 2.87 1.15 113 151
50 3.15 1.26 124 166

As the above table shows, with a 25% down-payment, the CTC needed to buy a 1 crore house is around ₹30 lakhs. This is for a ready-to-move property. For under-construction, the house can be a bit more expensive: How to Buy Your Dream Home Without Any Savings: A Step-by-Step Guide.

You can also buy a bigger house if you can arrange for a higher down-payment.

To understand how to plan such a house purchase:

Also read
My EMIs take up all my salary. How do I start investing?

What is the house price for CTC up to 1 crore?

CTC In-Hand EMI Loan House price
50 3.15 1.26 124 166
55 3.33 1.33 131 175
60 3.60 1.44 142 189
65 3.87 1.55 153 204
70 4.15 1.66 164 218
75 4.42 1.77 174 233
80 4.70 1.88 185 247
85 4.97 1.99 196 261
90 5.24 2.10 207 276
95 5.52 2.21 218 290
100 5.79 2.32 228 304

What is the house price for CTC up to 2 crores?

CTC In-Hand EMI Loan House price
100 5.79 2.32 228 304
110 6.21 2.48 245 326
120 6.74 2.70 266 355
130 7.28 2.91 287 383
140 7.81 3.12 308 411
150 8.35 3.34 329 439
160 8.88 3.55 350 467
170 9.42 3.77 371 495
180 9.95 3.98 392 523
190 10.48 4.19 413 551
200 11.02 4.41 435 579

What is the house price for CTC more than 2 crores?

CTC In-Hand EMI Loan House price
200 11.02 4.41 435 579
225 11.80 4.72 465 620
250 13.07 5.23 515 687
275 14.34 5.74 566 754
300 15.61 6.24 616 821
325 16.88 6.75 666 888
350 18.15 7.26 716 954
375 19.42 7.77 766 1,021
400 20.69 8.28 816 1,088
450 23.24 9.29 916 1,222
500 25.78 10.31 1,017 1,355

To understand how these numbers came to, as well as to know how other proprtions of down-payment and home-loan work, refer to the sensitivity tables here: What should be your income to buy a luxury property in India?

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This post titled How Much CTC Do You Need to Buy a ₹1 Crore Home in India? first appeared on 27 Nov 2024 at https://arthgyaan.com


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