New Delhi, Aug. 18 -- Owning a house is a dream for every Indian, especially the middle class. However, skyrocketing inflation in the real estate sector and a never-ending housing loan have forced many to pause this dream.

But on the flip side, several builders and their bogus "No EMI till possession" scheme have trapped as many as 4.3 lakh Indians into paying EMIs for a home that they may never get, warned a Reddit user.

"It starts with a dream, your own home. The builder offers a 'No EMI till possession' scheme. You pay 10% upfront, the bank releases 80% of the loan, and the builder promises to cover pre-EMIs for 2-3 years," the user said in a now-viral post.

However, he cautioned that although it "sounds safe," that's exactly how la...