A recent social media post showing the huge difference in real estate prices between India and the United States has caught people’s attention online and sparked debate. Posting on X, management consultant Gurjot Ahluwalia made a side-by-side comparison of what a buyer can get for $3 million (approximately ₹ 25 crore) in Gurgaon and New York. According to his post, if you have $3 million, you can buy a 4BHK or 5BHK apartment in a good residential society in Gurugram. However, in the same price range, buyers can buy a luxurious 6-room penthouse in New York, which is considered to be one of the most expensive cities in the world.
Where and what will you get for 26 crores?
Sharing screenshots of two listings taken from the internet, Ahluwalia wrote on You can also get a 4BHK or 5BHK in DLF Magnolias, which offers a range of amenities including swimming pool, covered parking, access to green space etc. ) can have a luxurious 6-room penthouse in New York.
Take a look at the post below:
Which $3M apartment would you prefer?
• Gurgaon or New York?
• 4BHK Flat or 6BHK Penthouse?
• Golf Course Road or Manhattan?
• Cyber City or Times Square?
• Magnolias Park or 3.4 sqkm Central Park?
Which $3M apartment would you prefer?
• Gurgaon or New York?
• 4BHK Flat or 6BHK Penthouse?
• Golf Course Road or Manhattan?
• Cyber City or Times Square?
• Magnolias Park or 3.4 sqkm Central Park?IMO REAL Estate is a SCAM in India! pic.twitter.com/jNlPCm7fjK
— Gurjot Ahluwalia (@gurjota) October 27, 2024
This comparison between the two cities forced Ahluwalia to conclude that real estate in India is a “scam”. The difference between what the same amount of money could buy also drew sharp reactions on social media.
One user wrote, “This is a bubble which is going to burst one day!! The real estate market in India, especially flats, is very bad.” Another wrote, “Disgusting.. For $1 million you can buy a mansion in America and live like a royal family.. Real estate in India is broad daylight robbery.”
A third user wrote, “Indian real estate is the biggest scam ever. With this money you will have one of the best villas in Dubai. Maybe even 2 of them.”