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Advice on loan from parents

I am planning on buying a new apartment, with handoff this year end. Its a 2BHK, slightly outside the main city area, but close to public metro and highways. The house costs 85,00,000 INR. Rental income pn average will start at around 25,000 to 30,000 per month. My parents want to help me finance this house. They gave me 2 options - 1. Register it in their name. They keep total ownership, rental income and also pay the tax and maintenance. Once I can repay them the original value of 85,00,000 INR, the house is mine.

  1. Register it in my name. I pay for the maintenance and collect rent. They will set an interest rate of 7% per year, and I have to do monthly payments to them, for a period of 10 years, based on my income currently.

Which option would you recommend? Both seem to have their own benefits.

submitted by /u/Common_Panda1913
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source https://www.reddit.com/r/RealEstate/comments/1kr2um9/advice_on_loan_from_parents/
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