The property price is only one input. There is no universal salary that makes a ₹1.5 crore home affordable, and a planning calculation cannot predict lender approval.
Quick answer
A ₹1.5 crore home cannot be assessed from salary alone. Model upfront cash, lender LTV constraints, purchase costs, the proposed EMI, existing debt, essential expenses, liquidity, and income resilience.
Start with upfront cash
Separate the borrower contribution from stamp duty, registration, documentation, interiors, moving costs, and a liquid reserve. RBI LTV requirements constrain bank financing relative to property value, but they do not require a lender to finance the maximum permitted share. Lender valuation and product terms can change the cash requirement.
Model EMI mechanics
Calculate EMI from the proposed principal, user-entered rate, and tenure. If the loan is floating rate, test how a reset could affect EMI or tenure under the actual loan terms.
Add the household view
NiyamFin measures total monthly debt payments divided by take-home income. Its planning bands are below 35% lower debt burden, 35–45% inclusive watch debt burden, and above 45% higher debt burden.
These are NiyamFin planning bands, not lender approval thresholds, regulatory limits, or universal affordability rules. Lenders may apply their own FOIR or affordability criteria, with definitions of eligible income and obligations that differ from NiyamFin's household measure.
Affordability also depends on essential living costs, existing debt, emergency liquidity after purchase, income stability, dependants, maintenance, and other goals.
Illustrative scenario
Illustrative scenario: choose a user-entered rate, tenure, and loan amount for a ₹1.5 crore home, add existing EMIs and purchase costs, then inspect total debt burden and post-purchase liquidity without converting the result into a salary requirement.
Tax and legal checks
Home-loan tax treatment depends on regime, property use, eligibility, limits, and actual interest paid. Verify any deduction separately. Check title, approvals, project registration where applicable, lender documents, and the total acquisition cost before committing funds.
Common mistakes
- Inferring affordability or approval from salary alone.
- Treating an LTV ceiling as a promise that the maximum share will be financed.
- Ignoring purchase costs, existing obligations, rate changes, or post-purchase liquidity.
What to do next
Use Home Affordability for the household purchase scenario and Loan Reality Check for a separate borrowing view; obtain actual terms from the lender.