India, April 18 -- For many tenants, buying the very apartment they live in is becoming an attractive option amid rising rents. While the arrangement offers convenience and familiarity, legal experts caution that such deals require thorough evaluation of legal, financial and valuation aspects. Familiarity with the property should not lead buyers to lower their guard or overpay; it must be treated like any other purchase, with complete due diligence before proceeding.

Take the case of Sandeep Singh (name changed), the idea of buying the apartment he had been renting in Bengaluru's HSR Layout seemed like a natural next step. Paying a monthly rent of Rs.23,000 for a 2BHK, Singh had grown comfortable with the neighbourhood, the commute and t...