V
Vikas Pandey
Totally stuck between renting or upgrading, need community input
Spent the whole Sunday checking out options around Nana Mava. Currently in a 2BHK on 150 Feet Ring Road, but thinking of upgrading to a 3BHK. Rents shot up nearly 30% lately, and owners want ₹22k easily. The EMI on a ₹75L flat feels steep since I already have a home loan, but dumping that much rent every month hurts. Is the price jump worth it right now, or should I stick to renting?
#emi-vs-rent#nana-mava#150-feet-ring-road#rent-hike#3bhk-upgrade
Comments
So what is your final plan now, are you talking to your bank manager first or looking at more rental flats this weekend? Still super confused here too because every broker gives totally opposite advice.
Bhai honestly, why not rent a bigger place for just 1 year more and see where Rajkot market goes?
Sahi keh rahe ho, rents drop nahi hote Rajkot me ek baar badh gaye toh. But buying under panic is worse. Did you check any resale units near Krishna Kunj instead of fresh luxury projects?
I thought the same last year, but rents increased by another 4k this cycle! Waiting only made it costlier to rent, so now I feel trapped from both sides.
Property prices in Rajkot have gone completely out of hand post-Diwali, especially on the western side. Even small builders near Krishna Kunj are asking 4200 to 4500 per sq ft without basic parking clarity. I keep calculating on EMI calculators everyday and just close the tab in fear. Renting hurts your ego, but a huge loan default will ruin your entire mental peace.
Wait, ₹75L for 3BHK in Nana Mava? Is this ready to move or under-construction? Because if possession is 2 years away, you will be paying both 22k rent AND pre-EMI together. Meri toh aisi situation me neend udd jaye honestly.
True, and what about hidden charges? Registration, stamp duty, maintenance deposit, and interior work will easily push that 75L flat to 85L on road. As a first-time upgrader, this extra 10 lakh buffer gives me serious panic.
Most projects quoting 75L in that Nana Mava belt are under-construction only, minimum 18 to 24 months baki hai. If it gets delayed even by 6 months, extra interest will kill all your savings.
22k rent sunke hi darr lag raha hai bhai. I am also looking around 150 Feet Ring Road and landlords are behaving like Rajkot is Mumbai now!
Bilkul safe nahi lag raha mujhe toh! Bank will calculate your FOIR and literally reject or charge higher interest. Even I was looking near Krishna Kunj area last month, but the EMIs are easily crossing 55k per month for a decent 3BHK. If you already have one loan running, it will choke your monthly cash flow completely.
Sach me yaar, 30% hike is insane. But do you think taking another EMI on top of an existing home loan is even safe right now?