Renting vs Buying

Can Bangalore be called as Ground Zero for the India housing bubble? I think there will be more contenders vying for the spot - Hyderabad, Delhi, Mumbai.

But here is an anecdotal evidence of a pricing bubble, or in other words how you can have a better quality of life renting instead of owning in bangalore. Thanks to Gala Time.

Cost to Rent: Rs 15000 per month
Cost to Own: Rs 34,000 per month

This is in the face of no appreciation in the near future, additional maintenance costs and taxes.