While condo and apartment projects in south Kolkata may have a similar structure and offer a similar lifestyle, the main difference between a condo and an apartment is the ownership.  While renting a condo is an option, condos are usually owned which is a good form of investment. If you are a first-time homebuyer, buying a condo will be your entry point into affordable homeownership, and is a smart way to invest in real estate. A condo owner is also responsible for interior maintenance (leakage, paint, etc.) giving the owner complete independence to remodel the condo.  Furthermore, condos usually have committees and association boards— the condo owner therefore also has to pay Homeowner Association Fees. Part of the monthly payment such as mortgage interest and property taxes are also deducted with condo ownership.  Renting an apartment, on the other hand, is a smart way to stay flexible, especially for residents who do not want to settle in a particular locality for a long time.