‘Actual property is a SCAM in India’: Administration skilled’s submit on $3 million condominium in India vs US goes viral

Having $3 million or roughly Rs 25 crore because the funds can get you the world in terms of actual property. Administration advisor Gurjot Ahluwalia shared a comparability of what $3 million can get an actual property purchaser in India and within the US.

Sharing the screenshots of two listings, Ahluwalia requested: “Which $3 million condominium would you like?” The submit went viral on social media.

India vs US

As per the India itemizing shared by the person, $3 million or Rs 25 crore can get you an condominium in DLF The Magnolias in Gurgaon’s Sector 42 with a built-up space of round 5,000 sq ft. 

DLF The Magnolias has a spread of facilities together with a swimming pool, lined parking, fitness center, spa, entry to inexperienced areas, and many others. This, nonetheless, is nothing in comparison with this property within the US that gives a view of the long-lasting Empire State constructing.

As per the US itemizing, $2.85 million can get you a 6-room penthouse with a pleasant view of the New York skyline.”An exquisite planted south going through terrace with sweeping Empire State views completes this ground,” the itemizing on Zillow learn. 

The penthouse additionally has double rooftop terrace, personal visitor home, built-in workplace desk, extra giant bedrooms, 5 bogs — 4 full bogs and one half rest room. The 4,511 sq ft is centrally air conditioned and options hardwood flooring. 

Netizens’ reactions

Some customers agreed with Ahluwalia’s take, saying that actual property in India is ridiculously costly. 

“Throughout my latest USA go to in October 2024, once I inquired about the price of a wise 3 BHK bungalow with courtyard and delightful garden in suburb of Washington DC with direct metro connection to Downtown. Worth in INR = Rs 4-5 crore. Indian actual property pricing is madly illogical,” a person stated. 

“I’d select Manhattan- I lived in NYC previously and I can not evaluate to Gurgaon. NYC has large alternatives and really extremely paid. Price of dwelling is excessive in NYC – however high quality of life is approach higher than Gurgaon,” one other person chimed in. 

Karti Chidambaram, Congress MP from Sivagangai, additionally shared the submit and stated: “We’re probably the most overvalued actual property market with the poorest infrastructure.”

Others had been of the opinion that Ahluwalia’s tackle the matter is simply too simplistic.  

“That is the error you folks make. You do not perceive the clientelle. It isn’t a this OR that selection. Most individuals who stay in Magnolias, ALSO have a flat in NYC (sic),” a person wrote. 

“Do folks actually assume New York is a safe metropolis? These days are lengthy gone… (sic),” one other person wrote. 

“You have to be naive to assume you get at 6 bed room penthouse in manhattan on this location for $3M. Let let you know about NYC rip-off earlier than you’re feeling too pleased about Gurgaon Rip-off. Yearly Tax solely on this condominium is ~Half / 0.5 Million {dollars}. Month-to-month HOA or constructing affiliation dues are ~ $18,000 +. Actual property is rip-off wherever (sic),” stated a 3rd person.