Community Information
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How are people affording to buy properties in Noida?
I’ve been living in Noida on rent for the last 6 years, and every year, my landlord increases the rent by 15-20%. The rent was stable during the Covid period, but now it feels like an increasing burden given the rate of inflation and the fact that rent hikes are outpacing my salary increases. I work in the IT sector and have a decent salary (likely in the top 5% of salaried individuals in India), but the rising rent is becoming tough to handle. When I look at properties to buy, I feel disheartened because purchasing a house without taking a huge loan seems impossible. However, given the job uncertainty, I’m hesitant to take on such a large financial risk. I’m curious to know how others are managing to buy property. Are people primarily taking out large loans or relying on ancestral wealth? Also, who are the people buying properties worth crores in cities like Noida? How are they managing it? Would appreciate any insights!3
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