I want to purchase an apartment. Need advice on whether this is a viable option

1. My hometown apartment is a 2bhk. My parents live there and i have no sibling. When i go to my hometown and we have guests over, its very difficult to accommodate them. Even if there are a couple of them. As of now, I dont have a 'need'. If im getting an apartment at 10k/sq ft today, by the time its actually ready to move, rates would have again shot up, but I dont think my income have increased to support that. I dont think my parents would be living with me, when I asked them if selling hometown apartment will be an option, they declined. But I do forsee frequent extended visits from parents as Im their only child. Not to mention spouse side of family. Even if we have a kid, i feel it wont hurt to have an extra room for guests.
2. Yeah definitely seems out of budget, but I were to pursue the virtue of emi should be x% of your income rules n all, It wont be possible without having either generational wealth or having a well setup business. Dual income would definitely help, but the thing is a) I dont know when i would be married. b) If I wait till marriage, the 1.3L now might as well be 2L then. My parents have around 4-5 yrs of service left and they live in T2 city, so living costs are comparatively lesser than bangalore. If my parents and I contribute together(even until i get married), 1.3L would still be feasible, its just that instead of investing in stocks/MF I would be paying the EMI only. I was wondering if this tradeoff of stocks for emi will be worth it? All of this seems fine unless a job loss comes into play 😂

If it's out of your budget, it's out of your budget. Guidelines which say EMI shud be x% of Income are important. Your will be spending 2Cr + 2.6Cr Interest ~ 4.5Cr on the 3BHK total cost. That is 4.5Cr diverted from your lifestyle, your children's education, your and your parents Healthcare, your comfort etc.

Additionally, the 2Cr quoted price is what the builder quotes along with his 30-60% markup. It's not something you will receive if you want to sell the flat. Buying in Bangalore outskirts has additional problems like bad infra, bad water etc.

But despite all this, if you still want to have your 3BHK, it's your choice, it's your sacrifice.

Not OP , but I seem qualified to answer your first statement 😂 I'm 24 too and my role is SSE. It means jack shit in some companies lol. And in no way I'm treated as an SSE in my company

1. Yeah, Im 2022 grad and my org doesn't have sde1/2/3 career ladder. They promote a sde to sse directly.
2. Nothing, im genuinely interested, even though it sounds a bit ambitious.
3. Im not purchasing this purely as an investment. I want to settle in bangalore, i see my future here. Total investment post registration for this one property would be appx 2.3Cr. Its located in the outskirts of east bangalore. The location seems decent, with upcoming metro station right outside, it seems that price of the apartment will definitely increase over the years. Not to mention bangalore's peripheral expansion; It would soon be what whitefield is today.
4. If i start EMI today, ideally i would be done with it by 44. Im not gonna have kids in my 40s, although that will be a separate discussion between me and my future spouse. I researched a bit, and found that average annual fees for child in bangalore would go updwards of 3-4L anually. By 2040, i wouldnt be shocked if it reaches 10L yearly. Im a bachelor as of now, so i dont really mind compromising my quality of life now. But once I get hitched, i would like to keep compromises on the minimum

If i were to look for a ready to move in property as of today, I would have to start the EMI of 1.3L today. With a delayed possession, the payment scheme is a little relaxed, as you pay emi on the disbursed amount rather than the complete amount. I would only have to pay 1.3L per month, after the tower has been completed. Until then, it would definitely be lesser than that.

Look in areas like sarjapura, atibele, Chandapura. You might find something around 1-1.2