Buying a house or any sort of property is still a dream for many due to inflated prices. Highlighting this struggle, an X user took to the microblogging site to point out that finding a decent property has become significantly challenging in today's time. Kalpit Veerwal, an IIT Bombay alumnus, narrated his ordeal while trying to purchase a plot of land. He remarked Rs 5 crore now equates to the value that Rs 1 crore held in the past.
"Five crore is the new one crore. Can't even get a decent plot of land in one crore anymore (in metros, it's not even a decent flat)," Mr Veerwal wrote on X.
Take a look below:
Mr Veeral's post quickly went viral, garnering more than 120,000 views. His tweet sparked a discussion on the microblogging site. While some users weighed in with their own opinions, others shared their own experience while facing similar challenges.
"Honestly, everything depends on the locality. Investing 1cr in an area which is few kms away from the 5cr area is always wiser. Real estate in most of the metros are inflated left right and centre," wrote one user.
"We have a lot of properties ranging from 40L to 10cr and even more. All depends on our expectations. Having high expectations will lead to more spend. And another key thing in reality is brand.. people with brand constructing houses little luxurious but with 50-70% high cost," expressed another.
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"Yeahh so true the rise is crazy from covid ka rate and if there are rate cuts it'll increase more," commented a user. "Yup, faced the same isssue when tried to buy some asset in India last year," said another.
"20 years ago 'Kaun Banega Crorepati' show really meant something, for 1 crore back then you could get so much. A decent flat in a city like Noida will cost 1 crore now, don't even want to think about Bengaluru and Mumbai," shared one user.
"The more you have the more you need. The less you have the less you need. Seeing people struggling, salty and miserable at 1cr. Also seeing people living their heart out at 20 lakh," commented another.
