How it works
Two positions are tracked in parallel. The owner pays the down payment, the transaction costs, the instalments and the upkeep, and holds an asset that appreciates while the loan amortises. The renter pays rent that rises each year, and invests the down payment and transaction costs the owner committed, plus whatever the owner's monthly outgo exceeds the rent by.
That last part is what most comparisons omit. On a ₹1 crore property at 20% down with 8% purchase costs, the renter starts with ₹28,00,000 invested on day one. Over twenty years at 11% that alone becomes over ₹2 crore, and a comparison that ignores it is not a comparison.
More detail
Selling costs are charged at the end rather than spread through, because that is when they fall. They are why a short stay rarely favours buying — roughly 10% of the price goes on transaction costs, and a two-year hold has nothing to amortise it over.
Neither result is presented as the right answer. The two most influential inputs — appreciation and investment return — are both unknowable, and the scenario tables exist so you can see how far the conclusion moves when you change your mind about them.
To work out the cash you would actually need upfront, use the purchase cost calculator.
To see what price your income supports, see the affordability calculator.
To check what a property you already own has returned, try the property return calculator.