own house or leased house better

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Due to increase in site cost and building cost, now many are thinking to take houses on lease. Because if building a own house costs say around Rs.40,00,000 (site + building)for a 30 x 40 house, the same accommodation can be got on lease for Rs.4,00,000/. Rest of the amount Rs.36,00,000 if kept in a Bank, interest @ 8% will be earned, which works out to Rs.2,88,000/-. After deduction of tax @30% on taxable income, a savings of Rs.2,30,000 or say almost Rs.20,000/- is earned which is sufficient to sit at home and eat. Your comments.