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Hindustan Times
08-07-2025
- Business
- Hindustan Times
Bengaluru techies on home buying: Purchase a flat to live, not show; think Android, not Rolex
For many young professionals in Bengaluru, buying a home is about more than just affordability; it's also about maintaining flexibility and not getting 'stuck'. On Reddit, several techies discussed the trade-offs between owning a home and staying mobile in a city known for its long commute. For many young Bengaluru techies, buying a home is about more than affordability; it is also about staying flexible in a city with long commutes and job shifts. (Representational Image)(Souptik Datta ) The conversations reflect a growing sentiment among Bengaluru's young workforce, which lives in a fast-moving city where real estate decisions need to be as agile as their careers. One user expressed concerns about getting stuck after buying a home, only to be advised to opt for smaller, more practical apartments over large luxury units. "I am just unable to figure out whether I should buy a flat or not. I am an NRI and moved to Bangalore 2 years ago. Previously, I rented an apartment closer to my workplace, I changed my company which is 7-8 km from my apartment now," one of the Redditors wrote. Also Read: Bengaluru real estate: Millennials fuel demand for ₹1–2 crore homes in the tech capital "So I shifted closer to my new office. I am thinking of buying an apartment but if I change again, I will be stuck. How are people buying apartments in Bangalore? It becomes a liability more than an asset," he said. He emphasised function over prestige and ease of resale or rental if life circumstances change. 'Buy an apartment like you'd buy an Android phone, not a Rolex.' 'If you switch jobs, rent out your apartment and move closer to work.' Another suggested a more strategic approach, buying two 2BHKs instead of a single 4BHK. Smaller units, they argued, are easier to rent or sell. 'When you're done with the city or your job, just rent it out or sell it. Don't wait for the perfect price,' the user wrote. Also Read: Bengaluru bucks national trend as mid-premium housing demand surpasses luxury: Sattva Group MD Bijay Agarwal Buy a ready-to-move-in flat near your workplace and opt for movable furniture to make relocation easier Several Redditors shared their experiences of navigating job changes after buying a home. One user said they purchased a 3BHK, later switched jobs, and found the commute too long. Instead of selling, they rented out the flat and moved closer to work, earning an extra ₹20,000 from the rent difference. 'Sometimes you have to make tough decisions for better work-life balance,' the user wrote. Another Redditor recommended a practical strategy: buy ready-to-move-in flats within a 13-kilometre radius of the IT corridor and use movable furniture to simplify relocation. 'If you change jobs again, just rent out your apartment and move closer to work. It's that simple,' he advised.
Hindustan Times
03-07-2025
- Business
- Hindustan Times
Buying vs renting: From intrusive landlords to missed opportunities, netizens share why they chose to invest in property
From intrusive landlords to rising property prices, many Netizens shared why they chose to buy instead of rent. One user recalled missing the opportunity to buy during COVID, only to see prices nearly double later. Another described how their landlord frequently invaded their privacy by showing the flat to potential buyers, prompting them to purchase their own home. From intrusive landlords to rising property prices, many Netizens shared why they chose to buy instead of rent. One user recalled missing the opportunity to buy during COVID, only to see prices nearly double later. (Representational Image)(Souptik Datta ) Others suggested a hybrid approach: buy a smaller property to earn rental income while continuing to rent a home in a preferred location. In a Reddit thread, users pushed back against the widely circulated financial advice that renting is better than buying, especially when it comes to 'low' rental yields and the virtues of systematic investment plans (SIP). For many, the numbers and the lived experience tell a different story. One Redditor shared a personal story about renting a ground-floor apartment where the landlord frequently invaded their privacy to show the flat to potential buyers. When all other prospective buyers dropped out, the owner kept pushing for visits, eventually driving the tenant to move out and buy their own flat. 'For me, the rent and EMI difference was just ₹ 10,000, buying made more sense,' one user said, adding that the landlord would likely have increased the rent soon anyway. 'At least now my payments go toward owning something.' Also Read: Bengaluru tenants turn to property investment to escape rental exploitation by landlords When a missed ₹ 2 crore opportunity becomes a turning point Another user, who had been tracking Noida's real estate market since 2014, came close to buying a 3BHK in a project near the Noida Expressway for under ₹ 1 crore. But that moment of hesitation proved costly after COVID, the same apartment soared in value, reaching prices between ₹ 2.5 crore and ₹ 3 crore. "I prefer buying as it makes financial and emotional sense. I still regret the missed opportunities I had. But since then, I took action and now have 2 properties yielding 7% by traditional calc and 33% on my investment. Another property for self-use will be delivered next year, and I continue to look for more," the Redditor wrote. Another Redditor detailed how they purchased a fully-furnished 3BHK in Noida's Sector 107 in 2019 for ₹ 1 crore, including interiors and registration. The rental income started at ₹ 20,000 per month and rose steadily to ₹ 32,000 by 2024. "Closed home loan in 3 years and now sold this flat at ₹ 2 crore because the prices have skyrocketed, and it was difficult to get many buyers at this price. Now I bought one in Faridabad at ₹ 1.10 crore, and the price has increased there as well," he wrote. Should you rent in Delhi and invest in Gurugram? Another Redditor living in West Delhi explained why they chose to rent rather than buy their primary residence. With quality 3 BHK apartments in the area priced around ₹ 1.7 crore, the user felt the cost was unjustifiable. Instead, they opted to rent a similar home for ₹ 25,000 a month, an amount they considered very reasonable. With the capital saved, they invested in multiple small, affordable, and EWS-category properties in Gurugram. That strategic decision is now paying off. "Now I get a rental income of more than ₹ 1 lakh. If you have money to buy the first one or can close your home loan within 3-5 years, it's ok to buy a home. So, depending upon the situation, either buy or rent or just buy small properties which can help u get a good rental income while u still stay at a rented place," he wrote. Also Read: Bengaluru landlord deducts 60% of security deposit over rusty kitchen rack and brokerage fee Landlords doubling rents in Bengaluru became a turning point for one buyer Having moved to Bengaluru 14 years ago, one of the Redditors wrote he had always aspired to live in an upscale complex in the eastern IT corridor of Whitefield. "Then one day, the owner suddenly doubled the rent. It was already high, and now it was beyond my reach. A lot of expats stay in this society, for whom it's their offices that pay the rent, so the market prices shot up. However, it was so high that even expats were moving out since it wasn't in their budget. That was the last straw," he wrote. 'We moved out and closed the deal on buying an apartment,' he said.
Hindustan Times
24-06-2025
- Business
- Hindustan Times
Karnataka weighs 1% increase in stamp duty amid revenue shortfall from property registrations
Faced with a decline in property registration revenue in the first quarter of the current financial year, the Karnataka government is considering a proposal to hike stamp duty by 1%, officials said. If approved, the total cost of property registration for buyers could increase from the current 6.6% to 7.6%. Faced with a decline in property registration revenue in the first quarter of the current financial year, the Karnataka government is considering a proposal to hike stamp duty by 1%. (Representational Image)(Souptik Datta ) The stamp duty was last revised in 2013. According to sources familiar with the matter, the Chief Minister has directed the finance, stamps, and registration departments to devise concrete measures to address the revenue shortfall. Also Read: Bengaluru's property registrations dip 21% amid E-khata implementation woes At present, property purchasers in Karnataka are required to pay a 5% stamp duty calculated on the guidance value, which is the minimum property price set by the government. In addition, they incur a 1% registration charge, a 0.5% cess, and a 0.1% surcharge. The shortfall in collections has raised concerns about a potential slowdown in the real estate sector, which could be contributing to the decline. The state had initially set a revenue target of ₹ 26,000 crore for the stamps and registration department for FY2024–25, but later revised it to ₹ 24,000 crore. Even with the reduced target, the department closed the fiscal year with only ₹ 22,500 crore, a report published in the Times of India said. For the ongoing financial year, the target has been raised to ₹ 28,000 crore. To stay on course, the department needed to generate around ₹ 7,000 crore in the first quarter, which ends June 30. However, it has so far collected just ₹ 4,556 crore, reflecting a steep 35% shortfall, it said.
