Bengaluru man's Rs 78,000 EMI on Rs 1.3 crore flat turns into burden after layoff. Sparks rent vs buy debate online
Independence Day 2025
Modi signals new push for tech independence with local chips
Before Trump, British used tariffs to kill Indian textile
Bank of Azad Hind: When Netaji Subhas Chandra Bose gave India its own currency
Wealth Whisperer narrated the story of her cousin's husband, who purchased a flat worth Rs 1.3 crore a few years ago. With a hefty down
payment
of Rs 50 lakh and monthly EMIs of Rs 78,000, the family managed to keep up—until a recent job loss from an MNC turned the investment into a financial strain. She revealed that she advised him to sell the flat and start afresh with new plans.
— chai_and_chat (@chai_and_chat)
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Undo
Internet debates
The post sparked strong reactions. One user compared it with his own experience, saying he bought a flat for Rs 65 lakh in 2020, made a down payment of Rs 20 lakh, and took a loan of Rs 45 lakh. His EMI came to around Rs 40,000, but he claimed that he could now rent the flat for Rs 55,000 or sell it for Rs 1.5 crore. He also added that at one point, he rented the property out, used the proceeds to repay part of the loan, and now felt confident he could clear the balance with his PF.
Others weighed in on the bigger question. 'Is it really worth buying costly apartments these days, or should we just rent?' asked one user. Wealth Whisperer responded that there is no universal answer, explaining that it depends on a person's bank balance and the prevailing rent.
Some users shared their philosophies on money. 'That's the only reason I pay in cash: one-time payment, no EMIs,' wrote one. Another questioned the wisdom of taking on debt with an unstable job, suggesting that only government employees enjoy true security. Wealth Whisperer countered this by claiming that over 90 per cent of Indians are in private jobs and will naturally want to buy homes, but the real key lies in calculating the risks before taking on heavy debt.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
Startups of AU students offer solutions for accommodation, healthy chocolates
Prayagraj: Finding safe, affordable, and convenient accommodation in a new city, especially for a few days of stay, is one of the biggest challenges faced by students. Addressing this issue, three students, one of whom is from Allahabad University, have come up with an innovative solution through their startup HostelB, a digital platform that connects students directly with property owners without involving middlemen. The startup, HostelB Services Pvt. Ltd., is founded by Abhishek Gupta, presently a second-year student from the Centre of Behavioural and Cognitive Sciences (CBCS) of AU, along with his peers Manendra Singh and Abhishek Parihar from Agra. Supported by the university's Incubation Centre, this platform aims to eliminate the time-consuming and often frustrating process of finding suitable accommodation. According to Abhishek, the unique feature of HostelB is that it operates with zero commission, making it student-friendly and transparent. "Our app helps the students to book a comfortable stay, from one to 15 days, for a minimal rent ranging from Rs 200-500 per day, which also includes three meals a day as we focus on the empty beds in the lodges or student hostels of any given city," explains Gupta. Presently, the startup is catering to the needs of the students in Agra and Prayagraj, he added. Students can easily register on the mobile app or website, browse verified listings, read reviews, and make instant bookings. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Benefits of Trading Bitcoin CFDs IC Markets Learn More Undo On the other hand, hostel or PG owners can list their properties directly via WhatsApp and retain 100% of their earnings, said Gupta. In another inspiring example of student entrepreneurship, four students from the Food Technology department at Allahabad University have launched a health-focused chocolate brand called Saugami Caklets. These chocolates are crafted using less sugar, high cocoa content, and are free from palm oil and preservatives, making them a healthier alternative for chocolate lovers. Both startups received mentorship from the Allahabad University Incubation Centre. Shefali Nandan, head of the Centre, mentioned that so far, four student-led startups have been nurtured under the programme. The centre assists students from idea development to prototyping and provides guidance in marketing, investment, and networking. "These two ventures reflect a growing culture of innovation and entrepreneurship among youth, demonstrating how students are not only identifying real-world problems but also creating impactful solutions," said Shefali Nandan. "We provide space and other infrastructure to all the startup's that comes under our incubation centre. We provide pan-India platform to nurture, expand and get experts advic," she added. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
19 minutes ago
- Time of India
Amausi industrial area is in for a major infra development
1 2 Lucknow: The Amausi industrial area is witnessing massive development, identified as a priority location for large-scale infrastructure upgrades with an investment of Rs 31 crore. The UP state industrial development authority (UPSIDA) is implementing the projects, which include the construction and upgradation of roads, drains, culverts and industrial entry gates. The area will see the development of worker and visitor-friendly amenities, including a Shramik Sewa Kendra to provide essential services for workers, a vending zone and truck lay-by areas for safe and organised parking of heavy vehicles. A cafeteria will be established to provide affordable meals and clean public toilets. To provide accommodation for workers, dormitories will be set up for house workers and staff. An official said that the main works in progress are the maintenance and upgrading of roads and footpaths, truck lay-byes, culverts and internal and external drainage, which will be made at a cost of Rs 12 crore. The construction of roads using FDR technology will involve an investment of Rs 6 crore. Additionally, the construction of an integrated command centre, police outpost and EV charging station will cost Rs 3.4 crore, while street furniture, signages and firefighting equipment will be provided at a cost of Rs 1.2 crore. Projects that are planned and will be executed shortly include horticulture and landscaping worth Rs 1.5 crore, interlocking tiles for road widening at a cost of Rs 2.2 crore, construction of a new drain at Rs 2.6 crore and the construction of a new entry gate with an investment of Rs 50 lakh. UPSIDA has also finalised the selection of a contractor for implementing annual maintenance and solid waste management work at the Amausi industrial area for Rs 1.26 crore. UPSIDA chief executive officer Mayur Maheshwari said, "In line with the industrial vision of the UP govt, UPSIDA is swiftly executing various civil infrastructure projects in Amausi industrial area. Our objective is to provide investors with a streamlined, accessible and modern industrial ecosystem, making UP a leader in 'ease of doing business'. The successful implementation of these projects will not only boost industrial activities but also create new avenues of employment and development at the local level. " Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
19 minutes ago
- Time of India
Bar businesses get a boost with transparent licensing push in AP
Vijayawada: Excise commissioner Nishant Kumar on Monday called the new bar policy (2025–28) a bold move toward sustainability, inclusivity, and transparency. He said the framework offers equal opportunities for both existing operators and new entrants. Speaking to the media on Monday, Nishant emphasized that the policy aims to keep bar businesses viable and accountable across Andhra Pradesh. The state govt released the notification for applications the same day. Applications can be submitted until 5 PM on August 26, with the draw of lots scheduled for August 28. Nishant said the govt recently announced the new bar policy bringing in wide-ranging reforms to make bar operations more transparent, financially sustainable, and socially inclusive. He said that the new policy permits a total of 840 bars across the state. In addition, 10% more bars have been reserved for Geetha Kulalu (taddy tapper community), with the objective of promoting social equity and empowerment. The reserved bars will receive a 50% concession in licence fees, offering opportunities for wider community participation. The excise commissioner said that the govt has decided to grant all bar licences through a public draw of lots. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo "This will ensure fairness and integrity in the process," said Nishant. The commissioner said in Andhra Pradesh's recent retail shop allotments, an average of 26 applications were received per shop, while in Telangana's recent bar allotments, as many as 131 applications were received per bar. He said that bars will be permitted in urban local bodies, notified tourism centres excluding religious destinations, and in future, in industrial corridors, metropolitan development areas, and SEZs, based on requirements. "Special restrictions have been imposed in Tirupati, where no bars will be allowed along certain routes leading to Alipiri and Tirumala," said Nishant. He said that the govt has ratoinalised the fee in new bar policy in such a way that keeps them below retail shop licence slabs, thereby creating a predictable and balanced framework for the next three years. He said that this move is expected to reduce the risk of unallotted licences, such as the 44 that remained vacant even after re-auction attempts in 2022–23. He said that bars will be allowed to operate from 10 am-12 am. Previously, having a restaurant licence is mandatory to obtain a bar licence. However, the govt amended the rule where licensee can secure restaurant licence and set up within 15 days. In some cases, additional 15 days time will be granted to set up a restaurant. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
