Gurgaon home costlier than New York's, real estate consultant posts shocking comparison

Imagine having $3 million, roughly ₹ 25 crore, to spend on a luxury abode. What will you choose? Spend money in India or elsewhere in the world to ensure the value for money and of course all dream facilities!

You will be stunned to know when it comes to real estate this huge money can mean vastly different things in India’s Gurgaon — which remains a top luxury residential destination, with its posh areas setting high standards for opulence and in New York — considered to be one of the world's most expensive cities.

A recent post on X by management consultant Gurjot Ahluwalia gives a better perspective to buyers regarding the shocking state of the country's real estate scenario.

The social media users were struck by the disparity that highlights how overpriced the Indian real estate market is.
Ahluwalia’s in his post which is being widely shared and evoking comments highlighted a side-by-side comparison of what the amount will get you in Gurgaon vs in New York.

“Which $3M apartment would you prefer?” Ahluwalia wrote on X, sharing online listings of two luxury apartments.

Sharing his opinion he said, "IMO REAL Estate is a SCAM in India!" He mentioned the amenities “you will be getting with the apartment as well as photos of both the apartments' interiors, while highlighting how Indians are being scammed into by paying for the country's sub-par quality of living.

The post has gone viral due to its shocking results!

While Gurgaon's offerings do seem lavish, however, if you compare them to what you will get in the same price range in New York you will be shocked!

If you have ₹25 crore, and are willing to stretch your budget a bit further, you can buy a 4BHK or 5BHK in a posh society in Gurgaon.

A listing on 99 Acres shows that ₹26.8 crore will get you an apartment in Gurgaon with a built-up area exceeding 5,000 square feet, according to the post.

The apartment will be located in a residential society that offers a range of amenities, including a swimming pool, covered parking, gym, spa, access to green spaces, etc.

Fairly good but nothing compared to what the same amount will get you in New York.

A Zillow listing shows that $2.85 million (₹23.9 crore approximately), is enough for a stunning 6-room penthouse overlooking the iconic New York skyline in the United States.

The terraced loft penthouse comes with a “massive 52 ft long great room with 14 ft ceilings and breathtaking East, South and North open river views.”
It also houses a master bedroom with “serene East River and city skyline views,” a private guest suite with a walk-in closet, a media room with a full bar, a professional laundry room, additional large bedrooms, and access to a double rooftop terrace with 360-degree views of the Manhattan skyline, as per the consultant's post.

Additionally, the river-view penthouse covers an area of 4,500 square feet.

The comparison between Gurgaon and New York led many social media users, including Ahluwalia, to conclude that real estate prices in India are ‘scamming’ customers.

“We are the most overpriced real estate market with the poorest infrastructure,” wrote Lok Sabha member Karti Chidambaram.

“In India, real estate pricing is a scam created by black money holders,” another X user alleged.

Another user in his post went on to say, “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.”

“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,” wrote X user Siddharth.
Some X users even predicted that the “real estate bubble” in India would soon burst.