What's the smart move for Delhi families: Rent or Buy?
Spent the whole weekend looking at 3BHKs around Mayur Vihar Phase 1. My budget is around ₹2.5-3 Cr, and honestly, prices for ready-to-move are steep. My wife's priority is a good school for the kids and a safe neighbourhood, so we're focused on areas like Saket or Greater Kailash, but those are even pricier. We saw an Angels Real Estate project under construction, offering a decent deal for a 3BHK, but I'm worried about RERA delays. Is it actually better to just keep renting and invest elsewhere in New Delhi? Or should we bite the bullet and buy something under-construction, hoping for possession on time? The EMI for a 3BHK is huge, yaar. Does the math for buying make sense anymore with current interest rates? What's the community's take on uc vs rtm in Delhi right now, especially for families?
Comments
Mayur Vihar 1 is good, but for schools and safety, GK/Saket are top-tier. But haan, price difference is massive.
U4, Anand Niketan is a good idea. We saw a couple of places there, but the maintenance charges for older societies can be surprisingly high, and renovations add up quickly. Plus, getting a 3BHK with modern amenities in that budget is tough. Is the school situation good around there too?
Totally agree about the EMI part. It feels like a black hole sometimes.
Honestly, the 'buy vs rent' debate is giving me sleepless nights. We were looking at a 3BHK in Anand Vihar, and the RTM prices were insane, like ₹18k-20k per sqft. Under-construction seems attractive because of the price difference, but my brother got stuck for 3 years with a builder in Gurgaon. He ended up paying both EMI and rent. The math for buying *only* makes sense if you plan to stay for 10+ years and the property appreciates well, otherwise, the EMIs are just too much for a first-timer. Current interest rates are definitely a killer.
Bhai, Anand Vihar is really pricey now. Even resale there is touching GK levels sometimes. Similar scene in Aram Bagh too.
U2, you hit the nail on the head. My financial advisor told me the same – if you're not planning long-term, renting can actually be more financially sound, especially with the current market conditions in Delhi. Property prices haven't seen that explosive growth recently like they did a decade ago. Plus, if you invest the difference (EMI vs. Rent) wisely, you might build more wealth. The builder delay story is my biggest fear with UC.
Bhai, same boat! My budget is similar, and Saket/GK toh out of question. Angels Real Estate ka track record pehle bhi mixed raha hai, I heard from a friend who booked with them near Alaknanda. RERA delays are a real headache, especially with kids, because you need stability. Renting seems less stressful sometimes, no? Plus, the thought of paying EMI for a place that's not even built yet is terrifying.
U1, exactly! My cousin booked with Angels near Ansal Villas, and the project is delayed by almost two years now. They keep giving excuses. So, RERA is a shield, but not a magic wand. Renting gives you flexibility, but then you feel like you're throwing money away.