Dedicated locality research platform

Let’s talk about Real Estate

Get quick tips, ask our experts, seek legal advice and more.

Start a discussion…
  • S

    Is buying a house better than renting in India? OR Should I rent or buy a house in Mumbai?

    Posted By : Prerna Singh 1 year ago Queries

Comments (1)

  • Propscience 1 year ago

    The decision to rent or buy in a pure economic sense depends upon the rental yield visive mortgage rates. Generally, in India rental yields will vary at around 3% of the capital value of the property being rented whereas the mortgage rates would be between 7-8%. Based on only this financial metric, it would always seem better to rent than to buy. However, if other factors like tax breaks on housing loan interest payments, escalation of 4-5% p.a. on rents every year, cost of moving around along with other incidental expenses such as brokerage, shifting, etc are taken into consideration it might be more prudent to buy especially in a location which one feels one would be settled in for the next 5-10 years.

Please to leave a response.

Let’s talk about Real Estate

Get quick tips, ask our experts, seek legal advice and more.

Close
© Propscience.com. All Rights Reserved.