Bengaluru techie loses job after buying Rs 1.3 crore flat, faces EMI burden
Bengaluru: Buying a house is often considered a major achievement, but for one family in Bengaluru, it has turned into a financial challenge. A social media post on X by a user named Wealth Whisperer has started a debate on whether owning a home in big cities is worth the risk compared to renting.
In her post, she shared the story of her cousin’s husband, who bought a flat worth Rs 1.3 crore a few years ago. He paid Rs 50 lakh as down payment and took a loan with an EMI of Rs 78,000 per month. The family managed the payments until he recently lost his job at an MNC. She wrote that she advised him to sell the flat and make a fresh start.
The post drew several responses. One user compared it with his own experience, saying he bought a flat for Rs 65 lakh in 2020 with a Rs 20 lakh down payment and Rs 45 lakh loan. His EMI was about Rs 40,000, but he said the property’s value had risen to Rs 1.5 crore and could fetch a rent of Rs 55,000. At one stage, he rented it out and used the income to repay part of the loan, and now feels confident about clearing the balance using his provident fund.
Others joined the discussion on whether it makes sense to buy expensive flats or continue renting. Wealth Whisperer replied that the decision depends on a person’s savings and the rent they might otherwise pay.
Some people also shared their views on financial planning. One said he avoids loans by making full payments upfront. Another pointed out that job security is uncertain in the private sector, making heavy debt risky. In response, Wealth Whisperer argued that since most Indians work in private jobs, many will want to buy homes, but the key is to carefully assess risks before taking on large loans.
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41 lakh illicit liquor seized, 1.84 lakh arrested in major drive: K'taka Minister tells Assembly
Belagavi (Karnataka) (PTI): The Karnataka Excise Department has conducted a statewide crackdown on illegal liquor trade over the last two years, resulting in arrests and seizures of alcohol, Karnataka Excise Minister R B Timmapur said on Tuesday.
As many as 1,09,017 people were arrested, and seizures included 13.66 lakh litres of liquor and 27.19 lakh litres of beer, he said in a written reply to a starred question by Harihar BJP MLA B P Harish in the Karnataka Assembly.
The Minister said the enforcement drive covered the financial year 2023–24, 2024–25 up to June, and 2025–26 from July to October, targeting unauthorised liquor manufacture, storage, sale and transportation across the State.
"During this period, statewide enforcement drives resulted in a total of 1,84,570 raids against illegal liquor sales,” Timmapur said.
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He noted that 9,179 non-bailable cases and 91,968 bailable and compoundable cases under Section 15(A) of the Karnataka Excise Act, 1965, were registered during the same period.
According to him, there have been no reports indicating that students have become addicted to alcohol due to illegal liquor sales.
The sale of alcohol to minors is strictly prohibited under the Karnataka Excise Act, 1965, and the department has issued periodic instructions to initiate legal action against violators, with strict enforcement and investigation measures in place, the Minister said.
Excise officials are carrying out regular road and night patrols, collecting intelligence, monitoring habitual offenders and conducting raids to identify illicit distillation units, unauthorised liquor outlets and spurious liquor manufacturing centres, he said, adding the department is also enforcing the law to prevent the production, storage, sale and transport of spurious, non-duty-paid and unauthorised liquor.
Regular patrols are being conducted on national and state highways, with suspicious vehicles being subjected to checks.
At the district level, standing committee meetings are held under the chairmanship of Deputy Commissioners, and joint operations are carried out with the police and forest departments to curb excise-related offences.
The department is also conducting awareness programmes through Gram Sabhas and in schools and colleges to educate the public and students about the physical, mental and social health hazards associated with alcohol addiction and substance abuse, Timmapur added.
