Choosing between renting and buying a home in Mayur Vihar hinges on multiple factors: monthly outflows, upfront costs, flexibility needs, and long-term wealth building. As of 2025, 2 BHK rents in Mayur Vihar Phase 1 range from ₹15,000 to ₹40,000 per month, while property sale rates average around ₹13,700 per sq ft (₹1.37 Cr for a 1,000 sq ft 2 BHK). With current home-loan interest rates near 8.5% and typical tenors of 20 years, monthly EMIs on a ₹1.3 Cr loan come to roughly ₹1 00,000, plus maintenance (₹5,000) and taxes (₹2,500), totalling ~₹1 07,500. That’s nearly three times the mid-range rent, making renting more affordable short-term. However, when factoring in tax benefits, property appreciation (~5–7% p.a.), and the desire for a permanent home, buying becomes financially sensible over an 8- to 10-year horizon.
Understanding Mayur Vihar’s Housing Landscape
Mayur Vihar, in East Delhi, is split into Phases I–III, each offering a mix of DDA flats, builder floors, and gated societies. Proximity to the Metro (Blue Line), retail hubs, and schools makes it popular among families and working professionals Housing.
Current Rent Scenario
1-BHK and Studio Apartments
- 1 BHK Independent Builder Floors rent for around ₹8,000–₹15,000 per month for 450–650 sq ft units.
- Studio/1 RK units start as low as ₹8,000 for 250 sq ft spaces in Pocket 1, Mayur Vihar Phase 1.
2-BHK Flats
- The most common rentals, 2 BHK flats, span 650–1,200 sq ft:
- ₹15,025–₹40,000 per month with security deposits and maintenance extra.
- Examples include ₹26,000 for a 1,200 sq ft builder floor in Acharya Niketan and ₹35,000 for a 1,200 sq ft Assotech Upkar Apartment.
- ₹15,025–₹40,000 per month with security deposits and maintenance extra.
3-BHK and Larger Units
- 3 BHK rents vary from ₹35,000 to ₹60,000 for 1,250–1,500 sq ft apartments in DDA pockets and societies – often unfurnished, with ₹3,500–₹5,000 monthly maintenance.
Average Rent Snapshot
- 1 BHK: ₹10,000 pm (≈₹24/sq ft)
- 2 BHK: ₹30,000 pm (≈₹33/sq ft)
- 3 BHK: ₹45,000 pm (≈₹36/sq ft)
Buying Property: Costs and Trends
Current Sale Prices
- Average flat price in Mayur Vihar Phase 1 is around ₹13,736 per sq ft (up 2% QoQ).
- 99acres quotes range ₹12,100–₹17,400 per sq ft for builder floors and flats in Phase 1.
- Housing.com reports an average of ₹10,099 per sq ft in Phase 1, with starting rates at ₹5,333 per sq ft and top listings at ₹18,627 per sq ft.
Example Purchase
- A 1,000 sq ft, 2 BHK flat at ₹13,700/sq ft ⇒ ₹1.37 Cr.
- Stamp duty & registration (~5%) ⇒ ₹6.85 L upfront.
- Brokerage (1–2%) ⇒ ₹1.37–2.74 L.
- Interior & move-in costs (~₹5 L).
Calculating Monthly Ownership Costs
EMI Estimate
- Loan amount: ₹1.37 Cr (90% LTV) ⇒ ₹1.233 Cr financed.
- Interest rate: 8.5% p.a., tenure: 20 years.
- EMI ≈ ₹1,01,000 pm.
Maintenance & Taxes
- Maintenance charges: ₹2–5 per sq ft ⇒ ₹4,000–10,000 pm.
- Property tax: ~0.25% of property value annually ⇒ ₹2,850 pm.
Total Monthly Outflow (Buy):
EMI ₹1,01,000 + Maintenance ₹7,000 + Tax ₹2,850 ≈ ₹1,10,850
Comparing Rent vs. Buy
| Metric | Renting (2 BHK) | Buying (2 BHK) |
| Monthly Cash Outflow | ₹30,000 | ₹1,10,850 |
| Upfront Costs | Deposit (~3 months’ rent) ~₹90,000 | Down payment+fees ~₹17 L |
| Flexibility | High | Low |
| Long-Term Equity | None | Significant |
| Tax Benefits | No | Section 80C & 24(b) savings |
| Appreciation Potential | N/A | ~5–7% p.a. |
Break-Even Horizon
At ₹80,850 extra monthly cost, it takes substantial time to recoup higher outflows via equity. However:
- Tax savings on interest & principal can reduce annual cost by ~₹1.5 L p.a.
- Appreciation at 6% yields ₹8.2 L value gain yearly on ₹1.37 Cr.
Net Benefit:
Appreciation + Tax savings (₹10 L) – Additional cost (₹9.7 L) ≈ ₹0.3 L yearly.
Thus, the break-even point is around 8–10 years, after which ownership becomes financially superior to renting.
Non-Financial Considerations
- Flexibility: Renting allows easy relocation for job changes; buying ties you down.
- Lifestyle Control: Owners can renovate and personalize freely; renters face restrictions.
- Market Volatility: If Delhi market dips, owners bear losses; renters are insulated.
- Long-Term Stability: Owners gain security and hedge against future rent inflation (currently 5–7% p.a.).
Who Should Rent, Who Should Buy?
Renters Fit If You:
- Expect to relocate within 5 years.
- Lack upfront funds (~₹20 L).
- Prefer flexibility over ownership responsibilities.
Buyers Fit If You:
- Plan to stay ≥8 years.
- Have savings for down payment and fees.
- Seek tax benefits and long-term wealth creation.
Conclusion
In Mayur Vihar today, renting a 2 BHK (₹30 000 pm) is clearly cheaper than the monthly cost of ownership (₹1.11 L pm). However, over an 8–10 year horizon, buying can outpace renting thanks to tax advantages and property appreciation. Your decision should balance financial calculations with lifestyle needs—if you value flexibility and lower immediate outflows, rent. If you’re looking to build equity and settle down for the next decade, buying is the smarter choice.