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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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
