News: First-Time Homebuyers Under 35 Now 64%: NoBroker-24-03-2026

First-time homebuyers in India are getting younger and carrying heavier loans, according to a NoBroker report released on March 24. Buyers under 35 made up 38% of the total in 2019, and that share had risen to 64% by 2026. In Bengaluru the figure is 68%, which the report linked to high early-career incomes and the normalisation of taking on large debt in one’s late 20s and early 30s.

The report attributed the shift to the tech economy and startup culture, with younger buyers treating a home as a base for long-term wealth and not as a retirement milestone.

Fewer first-time buyers are married at the time of purchase: about 65% now, against around 73% in 2019. The report said urban millennials are marrying later and are more willing to take on big financial commitments alone, with single buyers, particularly women, increasingly entering the market.

At the same time, joint applications have become more common among those who are married or in partnerships, because a co-applicant raises loan eligibility and can often unlock stamp duty benefits. In Mumbai, a flat 1% stamp duty discount applies across all property values when a woman is a co-applicant. In Bengaluru the benefit is limited to properties under Rs 35 lakh. Delhi offers a 2% concession, with women paying 4% against 6% for men, Haryana cities such as Gurugram and Faridabad give a 1-2% reduction, and Noida charges around 6% for women against 7% for men.

Women account for roughly 30% of property registrations, but women-only loans are less than 5% of disbursals, indicating that women mostly figure as co-applicants and not as standalone borrowers.

The most significant change, the report said, is the share of income going to repayments. Banks have long capped EMI obligations at 50% of net monthly income as an industry standard and internal guideline. The average EMI-to-income ratio among first-time buyers has climbed to 60-65% as of 2026, from 45% in 2019. Several banks have quietly stretched their effective underwriting limits beyond 50%, particularly for dual-income couples whose combined income makes the loan serviceable.

More than 80% of residential purchases are now financed through home loans, which the report said shows that "borrow now, build equity later" has replaced the habit of saving first and buying later.