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

Having $3 million or roughly Rs 25 crore because the funds can get you the world on the subject 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 house would you like?” The put up went viral on social media.

India vs US

As per the India itemizing shared by the consumer, $3 million or Rs 25 crore can get you an house 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 variety of facilities together with a swimming pool, coated parking, fitness center, spa, entry to inexperienced areas, and so on. This, nevertheless, is nothing in comparison with this property within the US that gives a view of the enduring 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.”A beautiful planted south going through terrace with sweeping Empire State views completes this flooring,” 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, after I inquired about the price of a wise 3 BHK bungalow with courtyard and exquisite 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 consumer stated. 

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

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

Others have been of the opinion that Ahluwalia’s tackle the matter is just too simplistic.  

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

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

“You should 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 are feeling too blissful about Gurgaon Rip-off. Yearly Tax solely on this house 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 consumer.