Should you rent a house or buy one?
Let us take a closer look at some of the cities.
Buy or Rent?
Delhi and National Capital Region
Due to Delhi's second-highest property prices after Mumbai, renting a home there is less expensive.
In Chennai, real estate prices have fallen over the last three years, but rents have gone up 10%. People seeking for a property who earn more than Rs 20 lakh can consider purchasing.
In the last three years, property prices in Kolkata have increased by 2.7 percent while rents have decreased by 8.5 percent. For those whose annual income is at least Rs. 15 lakh, there is a purchase recommendation.
The silicon valley of India saw a higher upsurge in rents as compared to property prices. Average rents increased by 37.51 percent, but property prices increased by 12.64 percent. For those making Rs. 15 lakh or more per year, purchasing is advised.
Pune, the second-largest city in Maharashtra, had a spike in real estate costs of 38.9% during the previous three years.There was a 21.2 percent increase in rentals. The fourth most affordable city to rent. People with annual incomes under Rs. 15 lakh should choose to rent.
In terms of renting affordability, it is also the cheapest Indian city. For those with an annual income of at least Rs. 12 lakh, buying is advised.
For renting or buying property in Delhi contact bhatia associates