A recent social media post by a man describing himself as a “recovering founder” on X (formerly known as Twitter) has sparked widespread disbelief among social media users regarding the exorbitant prices of luxury apartments in Gurugram. Abhinav Kukreja shared images of DLF’s latest high-end project, showcasing extravagant amenities such as a private theatre, games room, ice bath area, and spa facilities.
What astonished people the most was the initial price of Rs 75 crore for the smallest apartment in the development. Mr Kukreja emphasised the shock value by commenting, “Can’t believe they cooked this in Gurugram,” while unveiling the luxurious features of the project. The starting price for these apartments has prompted comparisons to the costs of properties in iconic global locations, with many searching for Burj Khalifa apartment prices for context.
According to Mr Kukreja, the smallest unit spans an impressive 9,500 square feet and is expected to sell for around Rs 80,000 per square foot. He added, “This means that there is now a building in Gurgaon where the cheapest home costs ~ Rs 75 crore ($9 million).”
DLF launched their new project, The Dahlias on Golf Course Road, Gurgaon today.
Smallest apartment configuration is 9500 sqft. Expected selling price is ₹80k per sqft.
This means that there is now a building in Gurgaon where the cheapest home costs ~ ₹75Cr ($9m) https://t.co/SUqUMgNKWc
— Abhinav Kukreja (@kukreja_abhinav) October 9, 2024
In response to the staggering price tag, many users took to X to express their disbelief and consider alternatives. One user quipped, “You can get a facing view in Italy for the same price with much better facilities.” Another remarked, “Rs 75 crore for a Gurugram apartment or an apartment of the same size in the tallest and poshest building in the world, Burj Khalifa, where apartments start at Rs 6 crore for 1 BHK. Tough choice…”
Further comments reflected similar sentiments, with one individual stating, “For $1.2 million, you could get an apartment in Manhattan near Times Square,” while another mused, “For this price, I think I can buy a home in Los Angeles. Real estate in our country has become so high, but the income of people has remained the same. If this continues, the middle class will never even dream of having a 2BHK house.”
“Our real estate is out of control. Something needs to change. Pound for pound, It’s cheaper to buy housing abroad than in India. This makes no sense, considering less than 30 years ago, Indian housing was affordable,” an individual said.
The collective reaction highlights growing concerns over skyrocketing property prices in India, especially in urban areas like Gurugram, where high costs are becoming increasingly unattainable for the average citizen.