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Deciding whether to rent or buy a home is one of the biggest financial choices most people will make. It’s not a straightforward decision, especially when considering the rapid increase in <keyword id="21530105" type="General" weightage="20" keywordseo="rental-prices" source="keywords">rental prices</keyword> in some of India’s biggest cities. Let’s dive into how the cost of renting has risen compared to buying, and whether it's still worth it to rent or if it’s time to start looking at <keyword id="20879400" type="General" weightage="20" keywordseo="homeownership" source="keywords">homeownership</keyword>. <h2>Soaring renting costs</h2>If you’re renting in cities like Bengaluru, Pune, or Kolkata, you might have noticed something frustrating — your rent seems to keep going up. According to <keyword id="20974307" type="General" weightage="20" keywordseo="ANAROCK-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="ANAROCK Research" meta.hostid="261" meta.entityid="ANAROCK Research">ANAROCK Research</keyword>, in several of India’s top cities, rental prices have jumped significantly, even more than <keyword id="21006188" type="General" weightage="20" keywordseo="property-values" source="keywords">property values</keyword> in some places. For example, in Bengaluru’s Sarjapur Road, average monthly rents shot up by 67% between the end of 2021 and the middle of 2024. If you were paying Rs 21,000 in rent at the end of 2021, that would now be around Rs 35,000 a month! And Bengaluru isn’t the only city where renters are feeling the squeeze. In Pune’s Hinjewadi, rent prices have surged by 52%, while property values went up by just 31%. Similarly, in Kolkata’s EM Bypass, rents rose by 46%, but property prices saw a much smaller bump of 15%. But there are cities where buying makes even more sense because property prices are outpacing rental costs. In Hyderabad’s Gachibowli, for instance, while rent went up by 50%, property values soared by 70%. This trend is also seen in NCR’s Sohna Road, where rents increased by 40%, but property prices grew by 54%. <h2>Is renting really worth it?</h2>Let’s say you’re living in a 2BHK flat in Bengaluru, paying Rs 50,000 a month in rent. It might seem like an okay deal at first, but when you look at the long-term cost, things get tricky. Dr Prashant Thakur, Regional Director &amp; Head of Research at ANAROCK, breaks it down: "One-year payable rent for the individual is Rs 50,000 x 12 = Rs 6,00,000. For the next 10 years, the total rental outgo, including an annual rental increase of 7%, will be around Rs 83 lakh. This rental outgo is almost 69% of the total cost of this property — and this is just an expense with no investment value accrued." <div type="Article" hostid="261" msid="113367496" title="I bought my dream home, but the difficult process and higher cost sometimes make me wish I&amp;#39;d stuck with renting" mstype="2" mssubtype="0"></div>What does that mean? If you keep renting, you’re essentially throwing money out the window without gaining any ownership of the home. While you may have the flexibility that comes with renting, your hard-earned money doesn’t build any long-term value. <h2>Is it time to make the home purchase leap?</h2>So, what if you took the plunge and bought the place instead? Let’s say you’re eyeing a Rs 1.2 crore apartment and can afford to put down a 20% down payment, with the rest coming from a 10-year home loan at 9.5% interest. Dr. Thakur explains, “If the individual opts to buy the property via a home loan, has the financial wherewithal to make a 20% down payment, and borrows the remaining amount over a 10-year tenure at 9.5% interest rate, such a purchase is definitely profitable. Instead of spending a huge amount on rent, the individual can pay monthly EMIs and ultimately own the physical asset after a ten-year period.” With this approach, the monthly EMIs may be slightly higher than what you’re paying in rent, but there’s a key difference — you’re working towards owning your home. After 10 years, the home is yours, and you don’t have to worry about rent going up year after year. <h2>Homeownership isn’t just about the numbers</h2>While the math might lean towards buying, it’s not just about finances. For some people, renting makes more sense, especially if they don’t plan to settle down in one place for a long time. Job mobility, financial stability, and lifestyle choices all factor into this decision. However, something interesting happened during the COVID-19 pandemic. Many people, including millennials who had previously been all about renting, started reconsidering. The pandemic brought a sense of uncertainty, and suddenly, the security of owning a home became much more attractive. Dr. Thakur points out, "Amid a rising aversion to high-risk investments, an increasing number of tenants see rent as an expense, and EMIs as SIPs towards a non-volatile asset." <div type="Article" hostid="261" msid="113395713" title="Welcome to interest-rate cut week: Here&amp;#39;s how the Fed&amp;#39;s next move will impact everything from home prices to new cars loans" mstype="2" mssubtype="0"></div>Plus, home loan interest rates are currently lower, averaging between 8.75% and 9.5%, making homeownership more affordable than it has been in the past few years. And let’s not forget the tax benefits: Homebuyers can avail of deduction on principal repayment, interest charges, and a further deduction of Rs 50,000 for first-home buyers. The answer, as with most things, isn’t black and white. Renting offers flexibility, especially if your job might take you to a new city in a year or two. But with rents rising sharply in cities like Bengaluru, Pune, and Chennai, buying might be a smarter option in the long run. If you’re financially ready to make a down payment and secure a home loan, investing in a home could save you from steep rental hikes and give you the stability of owning a property.

Should you rent or buy a home? Here’s how much rental pricing has gone up compared to ownership cost in major Indian cities

<ul><li>Rental values in the IT capital's prominent markets are expected to rise further by anywhere between 5-12% in 2023. </li><li>Bengaluru's Thanisandra Main Road and Marathahalli-Outer Ring Road have witnessed a steep rise of 24% each in residential rental values between Q1 2022 and Q1 2023. </li><li>Besides the prominent localities in Bengaluru, other cities also recorded notable rental values growth. </li></ul>The demand for residential rentals has significantly increased in many cities since the reopening of offices and schools after the third wave of Covid-19 in 2022, especially in the last year. Bengaluru, which is known as the IT/ITeS capital of the country, has experienced a remarkable surge in rental values. Real estate services company Anarock, through its analysis of monthly rents in the top 7 cities' prominent areas, has found that Bengaluru's Thanisandra Main Road and Marathahalli-ORR have witnessed the highest growth in residential rental values in Q1 2023 – rising 24% each from a year ago. The typical monthly rental for a standard 2-bedroom, 1,000 square foot home on Thanisandra Main Road went up from ₹21,000 in Q1 2022 to ₹26,000 in 2023. Meanwhile, at Marathahalli-ORR (Outer Ring Road), the average monthly rent increased from ₹22,500 last year to ₹28,000 in Q1 2023. Says Prashant Thakur, senior director and head, research, Anarock Group, “When it comes to rental demand and zooming rents, Bengaluru currently stands out among the top 7 cities, with East and North Bengaluru the biggest blips on the rental radar map owing to the IT/ITeS belt there. Whitefield, Sarjapur Road, Marathahalli-Bellandur Outer Ring Road, Thanisandra Main Road and even Hebbal are the clear chartbusters.” He adds that rental values in the IT capital's prominent markets are expected to rise further by anywhere between 5-12% in 2023, depending on the location, property, builder-type and other aspects. Interestingly, the next two two areas with the highest rental value growth rates among the seven cities were also located in Bengaluru. Whitefield, which is another significant IT/ITeS hub, experienced the second-highest increase in rental value, with a growth rate of 21% during the same period. That translates to an average increase of ₹4,600/month. The third spot was taken by Sarjapur Road in Bengaluru, which experienced a rental value growth of 20%, with the average rental value increasing by ₹4,500/month from ₹22,500/month in Q1 2022 to ₹27,000/month in Q1 2023. <cmsannotation type="cmsannotation" annotationid="Significant increase in rental yields" comment="subhead" text="Significant increase in rental yields">Significant increase in rental yields</cmsannotation> In India, the residential rental yield, which represents the annual return on investment in a property, had remained stagnant for a long time, with the national average hovering around 3% in the years before the pandemic. However, rental demand has increased significantly since the pandemic, particularly in 2022, leading to a change in this trend. As of the end of Q1 2023, Bengaluru has the highest rental yield among the top 7 cities, at 4.1%, followed by Mumbai at 3.9%. Prior to the pandemic, Bengaluru had the highest rental yield at 3.6%.

Bengaluru localities see the highest surge in residential rents in Q1 2023: Anarock

India’s tech hubs see property prices zoom by around 30%

Increasing incidence of <keyword id="49477" type="General" weightage="100" keywordseo="lung" source="Orion">lung</keyword> cancer among non-smokers has become a matter of concern in the country, as per health experts. To raise awareness about lung cancer, August 1 every year is observed as the <keyword id="4831539" type="General" weightage="50" keywordseo="world-lung-cancer-day" source="Orion">World Lung Cancer Day</keyword>. According to the <keyword id="6356311" type="General" weightage="50" keywordseo="world-health-organisation" source="Orion">World Health Organisation</keyword> (WHO), lung cancer is prevalent and more people succumb to deadly disease than from colon, breast and liver cancers combined. Lung cancer is the leading cause of male cancer-related deaths in more than 25 countries, with the upwards trend, experts are expressing fears that the Talking to IANS, Dr Nitin Yashas, Consultant - Medical Oncology and <keyword id="14606671" type="General" weightage="20" keywordseo="hemato-oncology" source="Orion">Hemato-Oncology,</keyword> Manipal Hospital Sarjapur, explained that there has been an increase in the lung cancer cases that among the non-smokers. While smoking continues to be an important cause, indoor and outdoor pollution and also second hand exposure to smoke have been considered as significant factors. A majority of the lung cancers present in an advanced stage 4 disease with poor long term survival outcomes. Quoting globocan 2020 data, Yashas said that lung cancer is one of the top five occurring cancers in the country with an estimated approximately 75,000 new cases. Most patients of lung cancer are diagnosed in the age group of 50-70 year, he said. Globocan stands for the <keyword id="14606670" type="General" weightage="50" keywordseo="global-cancer-observatory" source="Orion">Global Cancer Observatory</keyword>, an interactive web-based platform presenting gobal cancer statistics. "However, with the advent of genomic sequencing of tumors, there are a lot of newer treatment approaches available. Lung cancers particularly in non- smokers are driven by certain genetic mutations for which we offer targeted therapy in the form of oral tablets which shows good responses and prolonged survival," he said. Dr Nitin Yashas further that immunotherapy wherein the body's immune mechanism is activated to fight cancer cells has revolutionised the treatment of lung cancer and is often given in combination with chemotherapy resulting in long survival in years in a subset of patients and is now being evaluated for its efficacy in earlier stages also. According to Dr Sandeep Nayak P, Director - Department of Surgical Oncology and Robotic and Laparoscopic <keyword id="26785" type="General" weightage="50" keywordseo="surgery" source="Orion">Surgery</keyword>, <keyword id="116831" type="General" weightage="50" keywordseo="fortis-hospitals" source="Orion">Fortis Hospitals</keyword>, <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, lung cancer is the most common cause of cancer related death in India. The reason is that most lung cancers are diagnosed very late. Lung cancer in early stages does not produce any symptoms or may produce symptoms that are confused with allergy, simple cough, etc. It is also important to note that more than 70 per cent of lung cancers happen in smokers, he says. Dr Sandeep Nayak explains: "We know that smokers are the most vulnerable for lung cancer and we also know that a screening CT scan of lung done every once in a year for heavy smokers can pick up lung cancers early enough to prevent death due to lung cancer." This was a result of a recent research study. The screening CT scan is a low dose scan and can pick lung cancer very early saving many lives, he adds. Surgery has remained the main treatment for lung cancer when it is curable. Surgeries have moved from macabre surgeries to very subtle over the years both in extent and approach. There was a time when the entire lung had to be removed in order to remove lung cancer, Dr. Nayak says. "With the emergence of robotic surgery and fluorescence technology today we are able to remove only a small segment of lung which bears tumors, sparing the rest of the healthy lung. This has become possible because of the extensive research that has happened in the recent past." SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/garmin-fenix-7-solar-review-a-pricey-swiss-army-knife-of-fitness-smartwatches/articleshow/93266370.cms">Garmin Fenix 7 Solar review – a pricey Swiss army knife of fitness smartwatches</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/why-is-battlegrounds-mobile-banned-in-india/articleshow/93265968.cms">BGMI ban in India – why was the game banned, is the game still working, and everything you need to know</a>

World Lung Cancer Day: Rise of disease among non-smokers a concern

Global energy giant <keyword id="46532" type="COMPANY" weightage="80" keywordseo="Shell">Shell</keyword> has chosen <keyword id="6354321" type="CITY" weightage="80" keywordseo="Bengaluru">Bengaluru</keyword> for setting up its largest captive unit or global offshore delivery centre. The unit would provide more than 5,000 jobs in the Silicon Valley. 
 

	As per an Economic Times report, the new in-house global information technology centre, The Shell IT Centre Bengaluru, would be used to provide IT services to Shell's businesses including upstream oil and gas production, marketing and other projects. 
	 

	"The company has a large IT set-up in Malaysia, US and UK and will be moving all its global IT jobs to Bengaluru," said two people in direct knowledge of the development. 
	 

	In an email response the company confirmed the move and said: "We believe that India's significant IT talent will improve our ability to provide top-quality IT project delivery and selected operations support around the world.” 
	 

	Shell further added: "We anticipate no direct impact to Shell staff in 2015 as a result of this proposed change. Beyond then, given our strategic intent, it is expected that some impact on staff is likely as a result of this activity. We do not yet know the extent of this impact." Shell would acquire a 3, 50,000 sq. ft. space in <keyword id="1083300" type="ORGANIZATION" weightage="80" keywordseo="RMZ">RMZ</keyword> Eco World in the first phase. Finally, the energy giant plans take up 8, 00,000 sq. ft by 2018 to provide IT support to all its business verticals. "The deal between RMZ and Shell was closed on Thursday, <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> services firm, <keyword id="6376943" type="COMPANY" weightage="80" keywordseo="CBRE">CBRE</keyword>, was running the transaction. The proposed special economic zone building is currently under construction," said one of the persons. RMZ Eco World houses multinational companies like <keyword id="50041" type="CITY" weightage="80" keywordseo="KPMG">KPMG</keyword>, SAP, <keyword id="48670" type="CITY" weightage="80" keywordseo="Morgan-Stanley">Morgan Stanley</keyword>, ANZ and <keyword id="43706" type="COMPANY" weightage="80" keywordseo="Honeywell">Honeywell</keyword>, among others. It is located on Bengaluru's Sarjapur outer ring road. 
	 

	Meanwhile, the offshore delivery centers of multinational companies (MNCs) act as technology and business process centers for their global operations. 
	 

	Shell, the largest oil &amp; gas company in the world also operates a Business Operations Centre in Chennai that provide financial and business support to its companies worldwide. It has over 2,000 people working in Chennai. According to experts, Bengaluru has become the favourable center for global in-house centres (GIC) or captive centers for brands like Victoria's Secret lingerie, Lowe and <keyword id="159044" type="COMPANY" weightage="80" keywordseo="Baxter-International">Baxter International</keyword>. The city recorded highest increase in absorption of office space at 3.2 million ft, a 510% increase year-on-year for January to March quarter of 2015. 
	(Image: Reuters)

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Should you rent or buy a home? Here’s how much rental pricing has gone up compared to ownership cost in major Indian cities

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Bengaluru localities see the highest surge in residential rents in Q1 2023: Anarock

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India’s tech hubs see property prices zoom by around 30%

BI India Bureau

World Lung Cancer Day: Rise of disease among non-smokers a concern

IANS

Coming up! The Shell IT Centre Bengaluru

BI India Bureau

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