A
viral post on X highlights the vast disparity between what $3 million can buy in India and the United States. Management consultant Gurjot Ahluwalia shared a side-by-side comparison of two listings, one from Gurgaon and another from New York. The contrast is striking: while ₹25 crore (approximately $3 million) can get you a 4BHK or 5BHK apartment in a posh society in Gurgaon, the same amount can buy a stunning 6-room penthouse with breathtaking views of the Manhattan skyline in New York.
The Zillow listing for the New York penthouse shows that $2.85 million (approximately ₹23.9 crore) will get you an expansive loft space with 14-foot ceilings, serene river and city views, and access to a double rooftop terrace with 360-degree views of the Manhattan skyline. In contrast, the ₹26.8 crore listing for Gurgaon offers a similar-sized apartment in a residential society with amenities like a swimming pool, gym, and spa.
The comparison has sparked outrage on social media, with many users calling India's real estate market "scammy" and "overpriced." Lok Sabha member Karti Chidambaram wrote that India is the most overpriced real estate market with the poorest infrastructure. Others predicted that the "real estate bubble" in India will soon burst.
realestate
Gurgaon vs NYC: A Comparative Look at $3 Million Homes Exposes Real Estate Disparities
$3 Million Buys Luxury in India, but a Fraction of the Same in US.
Read More - realestate
realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
Read More - realestate
realestate
Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
Read More
realestate
Morgan Williams Joins Landings Real Estate Group Team
She oversees asset management and acquisitions as the company's director.