‘Real Estate is a Scam’: Viral Post Compares $3 Million Property in India vs. US
'Real Estate is a Scam': Viral Post Compares $3 Million Property in India vs. US
Management professional’s comparison sheds light on India’s soaring real estate prices
In a post that quickly went viral, management consultant Gurjot Ahluwalia stirred debate by comparing the value of a $3 million property in India to one in the United States. Ahluwalia shared screenshots of listings from India and the US, prompting readers to decide which offers better value for money. “Which $3 million apartment would you prefer?” Ahluwalia asked, highlighting the significant contrast between the two markets.
In India, $3 million (roughly Rs 25 crore) can buy an apartment in the exclusive DLF The Magnolias complex in Gurgaon’s Sector 42. The apartment spans approximately 5,000 square feet and includes luxury amenities like a swimming pool, gym, spa, green spaces and covered parking. However, the location and features, some say, fall short when compared to the US equivalent.
For a similar amount, around $2.85 million, buyers can secure a penthouse in New York City with views of the iconic Empire State Building and the city skyline. According to the listing, the penthouse offers 4,511 square feet of centrally air-conditioned space, featuring hardwood floors, a double rooftop terrace, a guest house, five bathrooms, and additional bedrooms. The terrace, south-facing and landscaped, provides expansive views of the city.
Many users resonated with Ahluwalia’s sentiment, agreeing that Indian real estate prices often seem disproportionately high.
A user commented, “During my recent visit to the US, I looked into a 3BHK bungalow with a courtyard and lawn near Washington, DC, for just Rs 4-5 crore. In comparison, real estate in India is madly overpriced.”
I would choose Manhattan- I lived in NYC in the past and I can’t compare to Gurgaon. NYC has tremendous opportunities and very highly paid. Cost of living is high in NYC – but quality of life is way better than Gurgaon,” another user chimed in.
Karti Chidambaram, Congress MP from Sivagangai, also shared the post and said: “We are the most over priced real estate market with the poorest infrastructure.”
Others were of the opinion that Ahluwalia’s take on the matter is too simplistic.
“This is the mistake you people make. You don’t understand the clientelle. It’s not a this OR that choice. Most people who live in Magnolias, ALSO have a flat in NYC (sic),” a user wrote.
“Do people really think New York is a secure city? Those days are long gone… (sic),” another user wrote
Others pointed out additional benefits of living in the US, such as better social security, clean air, access to quality education, ease of doing business, and the strength of the US passport.
Ahluwalia’s post underscores a growing frustration among prospective Indian homebuyers about the high cost of real estate relative to perceived value, with some reconsidering the appeal of Indian properties compared to their international counterparts.
