India, Aug. 3 -- Rohit Singh, a 36-year-old mid-level IT professional in Pune, booked a 2-BHK flat in 2021 for Rs.78 lakh, expecting possession by August 2023. To fund the purchase, he took a home loan of Rs.65 lakh, with an EMI of Rs.52,000 per month. However, due to regulatory delays and cash flow issues faced by the developer, the project stalled, and handover was pushed indefinitely.

Singh was forced to continue living in a rented apartment, paying Rs.27,000 in monthly rent in addition to the EMI. With no tax benefits from possession and no rental income, the Rs.79,000 monthly outgo severely strained his finances. His savings quickly depleted, and he began defaulting on utility bills and pausing SIPs and insurance premiums.

Within f...