Need advice on Buying a house

Given your low cashflow/salary, I am assuming you can pay around 15k a month in EMIs. If you get a loan of 15L at 8.5% interest rate for 20 years, then your monthly EMIs would be around 13 to 15k a month. But by that time, you would have paid twice ie. around 31L. Still, you will be doing all the maintenance, renovations etc. and because it is a flat, you won't have much freedom outside your flat so with the building structure degrades with time, your problems will also increase. Selling an old flat will be harder and even if you sell before 20 years, you will still be stuck with a loan that will consume your profits from the sale of the flat.

So don't buy, keep money so that you can invest in upskilling and get a better job that will increase your income and savings. I know it is hard to live on rent but you are young and so is your family, moving around should be easy. You should prioritize your savings and investments instead of settling down.

What place is this?

If you’ve decided to settle here, if you’ll be able to commute to your new job here, go ahead and buy the house, eyes closed.

People from Bangalore and Mumbai (or Thane/Panvel) have vastly different opinions on buying a house. Most Bangaloreans will tell you that even if you earn 2 Cr CTC, you still shouldn’t buy a house l. They’ll come with some calculation to show how you can’t afford it. It’s a global conspiracy to create a generation of renters. Do what’s right.

Keep investing the same amount as much as EMI or more and once you have corpus buy the flat. Don't take loan.

Although i do think RE is very expensive today, buying this would be agood financial decision for you. The amount i s low. It approx 4 years value of your cash flow. Go for it. Dont buy the next house for the next 25 Years. Save the money and go for a bigger one probably away from cities. Buy it , you wont regret it