The 33% Income Rule That Determines If You Can Afford a Home in India
Rising housing costs across India are putting increasing pressure on household finances, making affordable homeownership harder to achieve. A recent study has highlighted the growing challenges people face when trying to find housing within their budget. Financial experts recommend the 33% rule, which suggests that housing expenses should not exceed one-third of a person's monthly income. While online affordability calculators can help estimate borrowing capacity, banks typically consider several additional factors before approving home loans.
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