A Reddit post from an IT employee based in Hyderabad is getting attention for a question many salaried homebuyers will recognise.
His dilemma is whether to take possession of the flat he has already paid for or sell it and remain debt-free amid persistent concerns over layoffs in the IT job market.
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He wrote that he was "looking for some practical advice" and put his full finances on the table.
The Flat
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The poster bought an under-construction 2,000 sq ft 3BHK flat in Hyderabad three years ago. Possession is due in March 2027. The flat is valued at ₹1.30 crore, and the down payment has already been paid. An active bank loan of ₹1 crore remains, and the registration cost is ₹9 lakh.
The Household
He is the sole earner, with an in-hand salary of ₹3 lakh a month. His wife is a housewife, and they have two children, aged 8 and 5. Annual school fees come to ₹4 lakh.
Assets And Savings
The family already owns a 2BHK flat. Its loan will be fully cleared by March, and it can bring in ₹15,000 a month in rent if the family moves out.
The man who posted this dilemma also has ₹40 lakh in cash ready right now, a separate ₹20 lakh of savings kept for registration and interiors, and ₹35 lakh in PF.
The Dilemma
As a single-income earner, a loan of ₹1 crore looks risky with the constant threat of layoffs, he wrote. If he sells, he can remain totally debt-free in the family's current standalone flat.
His family likes the new place, and he has ₹40 lakh cash in hand to prepay and cut down the loan principal immediately after registration.
His question to the community: should he play it safe, sell the flat and stay debt-free, or go ahead with the registration and trust his cash buffers?
What The Numbers Show
The post mentions that if you pay ₹40 lakh in advance, the loan outstanding will come down to ₹60 lakh. The registration cost of ₹9 lakh will be paid out of the ₹20 lakh that was kept for registration and interiors.
Disclaimer: The post doesn't mention the EMI or the interest rate, which would matter for any decision. This is one person's situation, not financial advice, and anyone in a similar position should consult a qualified financial adviser.
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