Finally in addition to my calculator (rent vs buy), the article in Business line (July 3 2011 edition) talks in detail about the trade-off between rent vs buy. Given the fact that most of us are very poor savers, real estate investment may be an option but tenure of loan is for sure dependent on current savings and future expected growth in income.
Interested can download the calculator from here:Â Buying vs rent calculator
Continue to live the dilemma but better take the decision fast.