An engineer from Delhi NCR is gaining attention online for his social media post showing under-construction apartments being sold for Rs 15 crore in Noida. Kashish Chhibber, who goes by "Witty Engineer" on Instagram, struck a chord with millions of viewers when he said that no amount of job switching, trading or investing would likely enable him to purchase his own home, given the shocking real estate prices. Mr Chhibber took his Instagram followers on a virtual tour of Noida Sector 124, where he inspected an apartment at the upcoming ATS Knightsbridge project.
In the video, the engineer revealed that a 4BHK apartment there costs Rs 15 crore, while a 6BHK goes for Rs 25 crore. "I'm forced to wonder who is buying these apartments. What work do they do?" he said in Hindi. "I also felt like no matter how many jobs I switch, no matter how much I trade or invest, will I ever be able to afford a 4BHK in this society?" he added.
Watch the video below:
Mr Chhibber shared the video just a few days ago. Since then his post has accumulated more than 4.4 million views. In the comments section, users expressed astonishment over the high prices of the apartments. The clip also surfaced on X (formerly Twitter), where it garnered over 1 million views.
Some users said that Noida's real estate is going out of reach for middle-class Indians. Some calculated Rs 15 crore to be equivalent to $1.7 million and said the same could buy an apartment in New York or a villa in Dubai. A few people also tried to explain the Rs 15 crore price tag, saying that it is a "luxury project".
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"Any legit reason why people are buying 15Cr flats in Noida? For context with that money:- [1] You can buy a Villa in a decent location in Dubai. [2] You can buy a 3BHK apartment in Singapore. [3] You can buy an apartment in a prime spot in Manhattan, New York," wrote one user.
"In 15 crores, one can buy a decent property along with the citizenship of the country, almost anywhere in Europe or the US. I think the problem is that no one understands what the fair value of the property should be. Real Estate is usually bought on 'herd value' rather than 'intrinsic value'" explained another.
"It's not a normal project, it's a luxury project and hence the prices. The 3BHK is of 6000sqft. 6BHK is 10000sqft. It will also have amenities according to it like a dedicated concierge," commented a third user. "15 crore?That too for a flat? (along with pollution, infra+issues).Have never lived in a flat in my life any location I lived. Rather buy a house or villa in a different location in India.Goshhh, only if I had that much, could do all things I actually want to do,not just a home," added another.
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