Rent or buy
The monthly cash of owning, next to the rent. The three lines under the result are thumbs a class uses. They are not a verdict.
Owning, per month
₹29,770
EMI plus the maintenance you typed. No tax, and no rise in the house price.
Rent, per month
₹18,000
EMI
₹27,770
Loan ₹32,00,000
Price is 7.4× a year of take-home. One class treats under 5× as comfortable. This ratio ignores the loan rate.
The EMI is 62% of monthly take-home. One class treats under 40% as comfortable.
Price is 18.5× a year of rent. One class treats under 15× and over 20× as the two sides of that thumb. Neither side is an instruction.
How the number is calculated
The loan is the price minus the down payment. The EMI uses the same reducing-balance formula as the EMI calculator. Owning, per month, is that EMI plus the maintenance you typed. Price divided by a year of rent, price divided by a year of take-home, and EMI divided by monthly take-home are the three thumbs. The price-to-income thumb ignores the interest rate, which is why the EMI share is shown beside it.
How to use it
Type the rent of a home you would actually live in, not a cheaper one in a different neighbourhood. Take-home is the amount that reaches the bank. One class treats price under 5 times yearly take-home, EMI under 40 percent of take-home, and price under 15 times annual rent as the comfortable side. Over 20 times annual rent is the other side of that last thumb. Between 15 and 20, the thumb does not decide.
What this leaves out
Tax. A home loan can change a return, and the rule depends on the regime and on whether you live in the house. Stamp duty, registration, brokerage, and a repair in the first year are cash, and they are not in the EMI. The house becoming worth more is not in the result. If the purchase only works when the price rises, this page will not pretend to know that it will.
The longer version is rent or buy, as a cash comparison.