Mr Ahluwalia concluded that actual property in India is a “rip-off”.
A latest social media put up highlighting the stark distinction in actual property costs between India and america has triggered a dialogue on-line. Taking to X, administration marketing consultant Gurjot Ahluwalia shared a side-by-side comparability of what $3 million (roughly Rs 25 Crore) can get a purchaser in Gurgaon vs in New York. In response to his put up, you probably have $3 million, you should purchase a 4BHK or 5BHK condo in a prestigious residential society in Gurugram. Nonetheless, in the identical worth vary, consumers can purchase a formidable 6-room penthouse in New York, which is taken into account to be one of many world’s most costly cities on the planet.
“Which $3M condo would you favor?” Mr Ahluwalia wrote on X whereas sharing screenshots of two listings taken from the web. In response to the pictures, when you can prolong your finances barely to Rs 26.8 crore it is possible for you to to get a 4BHK or perhaps a 5BHK in Gurugram’s posh DLF Magnolias. This posh society affords a spread of facilities together with a swimming pool, lined parking, fitness center, spa, entry to inexperienced areas and many others. Within the US, $2.85 million (roughly Rs 23 crore) is sufficient for a shocking 6-room penthouse overlooking the enduring New York skyline.
Check out the put up under:
Which $3M condo would you favor?
• Gurgaon or New York?
• 4BHK Flat or 6BHK Penthouse?
• Golf Course Street or Manhattan?
• Cyber Metropolis or Occasions Sq.?
• Magnolias Park or 3.4 sqkm Central Park?IMO REAL Property is a SCAM in India! pic.twitter.com/jNlPCm7fjK
— Gurjot Ahluwalia (@gurjota) October 27, 2024
This comparability between the 2 cities led Mr Ahluwalia to conclude that actual property in India is a “rip-off”. The stark distinction in what will be bought with the identical amount of cash additionally led to sturdy reactions on social media.
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“It’s a bubble which goes to burst at some point!! Actual-estate particularly flats market is loopy in India,” wrote one consumer.
“Atrocious.. with $1 M you should purchase a mansion within the US and reside like a Royal .. actual property is a daylight theft in India,” commented one other.
“India’s actual property is the largest rip-off ever. You may have among the finest villas in Dubai with this cash. Perhaps even 2 of them,” expressed a 3rd consumer.
“Gurgaon actual property market is worst market on the planet. Charges are greater than dubai singapore and Ny. Services are like african international locations and taxes are very excessive. I left gurgaon and moved to chandigarh due to this,” shared a fourth X consumer.
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