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Rental Vs Owned House in Noida

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Rental Vs Owned House in Noida

Last updated: February 18 2019
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  • Rental Vs Owned House in Noida

    Hello friends,

    I'm in dilemma over buying an apartment vs renting. I'm married, IT professional, have almost 60lacs in hand, but when I look at apartment conditions in Noida, I dont like investing my hard earned money into it. I dont like layouts of 2 BHK and 3 BHK's in good society are like 90lacs onwards.

    I'm not sure whether I should keep staying in renting apartment or I should own my own house. Not sure what will happen to apartments after 20 years.

    As per my calculation I think investing in a house in some nearby cities like Meerut etc. will be more wise decision than too invest 1 cr in Noida in an apartment.

    Also rental property will give me freedom to move from 1 society to another in case of any issues whether in owned property you are stuck.

    60lacs FD will give me 450000 per annum which can easily cover my rent + maintenance charges.

    Thanks in advance.
    Last edited February 7 2019, 08:52 AM.
  • #2

    #2

    Re : Rental Vs Owned House in Noida

    Originally posted by sumit1411
    Hello friends,

    I'm in dilemma over buying an apartment vs renting. I'm married, IT professional, have almost 60lacs in hand, but when I look at apartment conditions in Noida, I dont like investing my hard earned money into it. I dont like layouts of 2 BHK and 3 BHK's in good society are like 90lacs onwards.

    I'm not sure whether I should keep staying in renting apartment or I should own my own house. Not sure what will happen to apartments after 20 years.

    As per my calculation I think investing in a house in some nearby cities like Meerut etc. will be more wise decision than too invest 1 cr in Noida in an apartment.

    Also rental property will give me freedom to move from 1 society to another in case of any issues whether in owned property you are stuck.

    60lacs FD will give me 450000 per annum which can easily cover my rent + mainentance charges.

    Thanks in advance.
    Think of future also about kids and all. Living in present is good but dont ignore the challenges you may face in future
    Thanks

    Comment


    • sumit1411
      sumit1411 commented
      Editing a comment
      Sir, what do you suggest?
  • #3

    #3

    Re : Rental Vs Owned House in Noida

    Originally posted by sumit1411 View Post
    Hello friends,

    I'm in dilemma over buying an apartment vs renting. I'm married, IT professional, have almost 60lacs in hand, but when I look at apartment conditions in Noida, I dont like investing my hard earned money into it. I dont like layouts of 2 BHK and 3 BHK's in good society are like 90lacs onwards.

    I'm not sure whether I should keep staying in renting apartment or I should own my own house. Not sure what will happen to apartments after 20 years.

    As per my calculation I think investing in a house in some nearby cities like Meerut etc. will be more wise decision than too invest 1 cr in Noida in an apartment.

    Also rental property will give me freedom to move from 1 society to another in case of any issues whether in owned property you are stuck.

    60lacs FD will give me 450000 per annum which can easily cover my rent + maintenance charges.

    Thanks in advance.
    You may be able to get a plot in 60 L. Buy a plot and construct as u like.
    a cat not able to catch mice will scratch the pillar in frustration

    Comment


    • sumit1411
      sumit1411 commented
      Editing a comment
      Where? I saw online that some plots are available inside capetown.
  • #4

    #4

    Re : Rental Vs Owned House in Noida

    Originally posted by sumit1411 View Post
    Hello friends,

    I'm in dilemma over buying an apartment vs renting. I'm married, IT professional, have almost 60lacs in hand, but when I look at apartment conditions in Noida, I dont like investing my hard earned money into it. I dont like layouts of 2 BHK and 3 BHK's in good society are like 90lacs onwards.

    I'm not sure whether I should keep staying in renting apartment or I should own my own house. Not sure what will happen to apartments after 20 years.

    As per my calculation I think investing in a house in some nearby cities like Meerut etc. will be more wise decision than too invest 1 cr in Noida in an apartment.

    Also rental property will give me freedom to move from 1 society to another in case of any issues whether in owned property you are stuck.

    60lacs FD will give me 450000 per annum which can easily cover my rent + maintenance charges.

    Thanks in advance.
    You have answered your question. FD

    Comment

    • #5

      #5

      Re : Rental Vs Owned House in Noida

      Originally posted by Cookie View Post
      Originally posted by sumit1411
      Hello friends,

      I'm in dilemma over buying an apartment vs renting. I'm married, IT professional, have almost 60lacs in hand, but when I look at apartment conditions in Noida, I dont like investing my hard earned money into it. I dont like layouts of 2 BHK and 3 BHK's in good society are like 90lacs onwards.

      I'm not sure whether I should keep staying in renting apartment or I should own my own house. Not sure what will happen to apartments after 20 years.

      As per my calculation I think investing in a house in some nearby cities like Meerut etc. will be more wise decision than too invest 1 cr in Noida in an apartment.

      Also rental property will give me freedom to move from 1 society to another in case of any issues whether in owned property you are stuck.

      60lacs FD will give me 450000 per annum which can easily cover my rent + mainentance charges.

      Thanks in advance.
      Think of future also about kids and all. Living in present is good but dont ignore the challenges you may face in future
      Sir, what do you suggest?

      Comment

      • #6

        #6

        Re : Rental Vs Owned House in Noida

        Unfortunately you will not get tax incentive and that's why it doesnt make sense when flat prices are not going up more than FD and if you intend to move around a lot. Suggestion is to keep some money in equity thru top MF so that you beat inflation else in 10-15 years, your 60 Lacs wont be worth much after inflation. Also your FD income will be taxed at 30% assuming your income is more than 15 Lacs. so not buying and renting is okay but keeping 60L in FD is not okay.

        Comment

        • #7

          #7

          Re : Rental Vs Owned House in Noida

          Originally posted by iparag View Post
          Unfortunately you will not get tax incentive and that's why it doesnt make sense when flat prices are not going up more than FD and if you intend to move around a lot. Suggestion is to keep some money in equity thru top MF so that you beat inflation else in 10-15 years, your 60 Lacs wont be worth much after inflation. Also your FD income will be taxed at 30% assuming your income is more than 15 Lacs. so not buying and renting is okay but keeping 60L in FD is not okay.
          What about 30 Lacs FD and salary is 10 lacs

          Comment


          • iparag
            iparag commented
            Editing a comment
            well then technically you are not likely to gain much by tax rebates on home loan. Pls talk to good advisor and invest part of FD in good MF (Templaton etc). Unless you are over 55 years of age, no point in putting your whole savings in MF and see it losing value over 5-10 years. You will be getting 2.4 Lacs in FD interest per year(* 7% pa) but it will be taxed at 20% so actual yield of FD is only 5.6 %. So put in MF or buy a home once you know you will be staying in a location for 5 years or more.
        • #8

          #8

          Re : Rental Vs Owned House in Noida

          Thank you Sir for your time. Can you please enlighten how by staying in new house you will save money?

          Comment

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