Mr Ahluwalia concluded that real estate in India is a "scam".
A recent social media post highlighting the stark difference in real estate prices between India and the United States has triggered a discussion online. Taking to X, management consultant Gurjot Ahluwalia shared a side-by-side comparison of what $3 million (approximately Rs 25 Crore) can get a buyer in Gurgaon vs in New York. According to his post, if you have $3 million, you can buy a 4BHK or 5BHK apartment in a prestigious residential society in Gurugram. However, in the same price range, buyers can acquire an impressive 6-room penthouse in New York, which is considered to be one of the world's most expensive cities in the world.
"Which $3M apartment would you prefer?" Mr Ahluwalia wrote on X while sharing screenshots of two listings taken from the internet. According to the images, if you can extend your budget slightly to Rs 26.8 crore you will be able to get a 4BHK or even a 5BHK in Gurugram's posh DLF Magnolias. This posh society offers a range of amenities including a swimming pool, covered parking, gym, spa, access to green spaces etc. In the US, $2.85 million (approximately Rs 23 crore) is enough for a stunning 6-room penthouse overlooking the iconic New York skyline.
Take a look at the post below:
This comparison between the two cities led Mr Ahluwalia to conclude that real estate in India is a "scam". The stark contrast in what can be purchased with the same amount of money also led to strong reactions on social media.
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"It is a bubble which is going to burst one day!! Real-estate especially flats market is crazy in India," wrote one user.
"Atrocious.. with $1 M you can buy a mansion in the US and live like a Royal .. real estate is a daylight robbery in India," commented another.
"India's real estate is the biggest scam ever. You'll have one of the best villas in Dubai with this money. Maybe even 2 of them," expressed a third user.
"Gurgaon real estate market is worst market in the world. Rates are more than dubai singapore and New york. Facilities are like african countries and taxes are very high. I left gurgaon and moved to chandigarh because of this," shared a fourth X user.
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