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A viral redit post has launched a sharp debate, exposing how the “No EMI” schemes are trapping Indian home buyers in the financial trap. This post, which is resonating on social media, warns the buyers to cheat the buyers by promising EMIs, causing them to get stuck in the stalled project and growing debt.

The Redit user revealed that about 4.3 lakh home buyers across the country are stuck in repaying EMIs of incomplete houses. The builders have to pay pre-EMIs for 2-3 years after the buyers offer 10-20% downpayment, but they often default, disappear or delay the project. Buyers have to pay both rent and EMI, while they do not see any possibility of possession. Cities like Noida, Greater Noida, Thane and Gurugram have thousands of incomplete houses, in which funds have been diverted or milestones are fake.

The post warns, “The loan is in your name, not in the name of the builder.” “If they default, banks chase you, and the untouched EMI ruins your credit score.” The savings of many people are over, and future income gets stuck in endless payments. Some families, who booked flats years ago, are still waiting because their children are reaching school at college age.

Neitizons also reiterated the same opinion, and many people advocated ready-to-move-in houses to avoid such risks. One user advised, “Do not invest until the flat is almost complete,” while the other called the subvention plans a “financial nightmare”. Others criticized weak consumer protection in India, and questioned why RERA and courts failed to protect buyers.

The post urged to be cautious: Before signing, confirm the financial status of RERA registration, Escrow account and builder. In India’s real estate market, without complete investigation, trust can turn the dream of the house into a debt trap, causing buyers to be careful with attractive proposals.