Rent or Sell - NCR

Need your thought on this?

Someone purchased a flat for 60 lakhs and stayed over there for 4 years now the flat rate appreciated to 1.6 crore and owner plans to move out and go back to home town. Rent he would get from the flat is 36000 (actual rent) +4000 (maintainance charge) so what should he do?

Sell the property and pay capital gain tax and invest in mutual funds Or Rent it out for 36000 per month income and let the flat appreciation happen for some more time?