At 25, don’t hold yourself back for 40 lakhs loan even if you are earning 70000/- gross (57% income to EMI ratio). Right now you have lower liabilities. Only money at this age you require is to support yourself. Just little for family
Remember with passing time, your income or salary will increase & this burden of some 40000/- emi will be lowered in terms of income to EMI ratio in next 3 year, 5 year. It may be even only 20% of your income after 10 years.
Property you can buy at 25 will appreciate and will cost more at age of 35. You may not able to afford buying same house after 10 years even with 2 lakhs per month income, considering
- Liabilities (Higher liability towards your parents & your own family and kids)
- Cost of this property and loan you will require to buy it
You may require 80 lakhs home loan or even more after 10 years & higher contribution from your side to buy same house which you can buy cheap now. GO FOR IT.
Also read this helpful resource to understand your eligibility for home loan
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