A social media account describing the financial strain of a recently laid-off technology professional has drawn attention to the risks tied to large home loans and unstable income.
According to details shared in a video post, the individual had been earning around Rs 40 lakh annually before losing his job. He is now working as a Rapido rider to manage a monthly home loan instalment of Rs 95,000.
The man had purchased a 3BHK flat in 2024 for approximately Rs 1.4 crore in Prateek Grand City, Ghaziabad. At the time, the purchase appeared financially viable, supported by a steady salary and career growth. The apartment was seen as a major milestone after years of work.
That stability changed after the layoff. The individual has reportedly been without income for three months, while loan repayments have continued. The EMI, once manageable, has now become a significant burden.
To cope, he began working as a Rapido rider, using the earnings from each trip to contribute towards his dues.
A friend described the situation in a post, writing, “He took a 3BHK worth 1.4 crore when his salary was 40 LPA, but now he’s jobless—how will he manage the 95 thousand EMI for 20 years?”
The account has prompted discussion among professionals, particularly in the IT sector, where high salaries often lead to long-term financial commitments.
Several users responded with suggestions. One wrote, “I am so sorry for the situation you are going through. I personally went through a similar situation. But a simple practical advice would be to let go of the house, as it will decrease the stress and financial burden. It might not be easy, but practical as per the situation.”
Another said, “Best is to rent it for 65-70k per month and try to get a job for next 2 years, while also trying to sell it. Even 15 lakh loss he should sell it.”
A third commented, “It can happen with businesses too. Everything is uncertain.”