Rent hike again, finally buying in Rajkot

Rent just went up 10% on my Kalawad Road 2BHK. I'm fed up, finally taking the plunge to buy. Looking at 2BHKs near 150 Feet Ring Road, budget ₹70-80 lakh. Everyone says rent-vs-buy ROI doesn't work. But isn't building equity better than zero? Is the 'rent and invest' argument overrated here? Change my mind.