Having $3 million or roughly Rs 25 crore as the budget can get you the world when it comes to real estate. Management consultant Gurjot Ahluwalia shared a comparison of what $3 million can get a real estate buyer in India and in the US.
Sharing the screenshots of two listings, Ahluwalia asked: “Which $3 million apartment would you prefer?” The post went viral on social media.
India vs US
As per the India listing shared by the user, $3 million or Rs 25 crore can get you an apartment in DLF The Magnolias in Gurgaon’s Sector 42 with a built-up area of around 5,000 sq ft.
DLF The Magnolias has a range of amenities including a swimming pool, covered parking, gym, spa, access to green spaces, etc. This, however, is nothing compared to this property in the US that offers a view of the iconic Empire State building.
As per the US listing, $2.85 million can get you a 6-room penthouse with a nice view of the New York skyline.”A wonderful planted south facing terrace with sweeping Empire State views completes this floor,” the listing on Zillow read.
The penthouse also has double rooftop terrace, private guest house, built-in office desk, additional large bedrooms, 5 bathrooms — 4 full bathrooms and one half bathroom. The 4,511 sq ft is centrally air conditioned and features hardwood flooring.
Netizens’ reactions
Some users agreed with Ahluwalia’s take, saying that real estate in India is ridiculously expensive.
“During my recent USA visit in October 2024, when I inquired about the cost of a smart 3 BHK bungalow with courtyard and beautiful lawn in suburb of Washington DC with direct metro connection to Downtown. Price in INR = Rs 4-5 crore. Indian real estate pricing is madly illogical,” a user said.
“I would choose Manhattan- I lived in NYC in the past and I can’t compare to Gurgaon. NYC has tremendous opportunities and very highly paid. Cost of living is high in NYC – but quality of life is way better than Gurgaon,” another user chimed in.
Karti Chidambaram, Congress MP from Sivagangai, also shared the post and said: “We are the most over priced real estate market with the poorest infrastructure.”
Others were of the opinion that Ahluwalia’s take on the matter is too simplistic.
“This is the mistake you people make. You don’t understand the clientelle. It’s not a this OR that choice. Most people who live in Magnolias, ALSO have a flat in NYC (sic),” a user wrote.
“Do people really think New York is a secure city? Those days are long gone… (sic),” another user wrote.
“You must be naive to think you get at 6 bedroom penthouse in manhattan in this location for $3M. Let tell you about NYC scam before you feel too happy about Gurgaon Scam. Yearly Tax only on this apartment is ~Half / 0.5 Million dollars. Monthly HOA or building association dues are ~ $18,000 +. Real estate is scam anywhere (sic),” said a third user.
