Need some good advice

Hi folks,

I’m 28 years old, and together with my wife, we earn around 23 LPA. Both of us come from humble backgrounds, and now my parents and I wish to settle down in Pune.

At present, we don’t own a home or property in Pune. My wife works at Synechron, Hinjewadi, and I’ve recently joined Concentrix in Yerwada. We’re living in a rented 1BHK, but life is changing fast — I got married in January 2025, my parents will likely move in with us in a couple of years, and hopefully, by God’s grace, we’ll have a third family member soon.

That’s why I’m seriously considering buying a flat. But here’s the dilemma:

Property rates in Wakad, Hinjewadi, Dange Chowk, and Tathawade are already on the higher side (Baner and Balewadi are simply out of reach).

If I look at projects with late possession (say 2028), the prices are somewhat manageable.

But if I go for near-possession, a decent 3BHK would cost nothing less than ₹1.25 Cr.

Now, from a financial standpoint, I’m confused. Should someone like me take on a massive loan of ₹1.2 Cr and spend a lifetime paying EMIs, or should I think differently?

I’d really appreciate some experienced advice on which areas I should consider for buying a flat, and whether stretching for such a big loan at this stage is the right decision.