In a post on the Gurgaon Subreddit, a user shared that they were unable to “afford 3BHK house in Gurgaon” despite of having a budget of nearly Rs 2 crore. Commenting on the exorbitant rate for rent, his family has been insisting him to buy a house. “The rents are crazy in themselves…but prices are so steep and high that it is nearly impossible” he writes.
This post caused a lot of debate online, pointing at the housing-crisis slowly creeping in urban areas. Even with what most would consider a sufficient amount, the user was not able to “afford a good DLF society” or near Manesar.
The community reacted by saying that the builders and brokers tend to take advantage of this situation of buyer desperation. Further, in an overwhelming he moment, the user mentioned that they were “feeling helpless” questioning whether the property prices will even come down.
Not able to afford a 3BHK house in Gurgaon
byu/kalpitkt ingurgaon
Responding to this a user commented, “It’s not coming down any day soon. Gurgaon real estate is a booming market.” while some even found the Rs 1.8 crore budget less and that waiting for the prices to fall was not a feasible option in this situation of urgency.
While the property prices are rising everywhere, be it rent or purchase, owning a house has become a luxury. Sharing thoughts on this a user commented, “Welcome to urban India, either you rent forever or sell your soul to buy” regarding the housing crisis urban settlements soon will face.
Offering their remarks to the distressed author of the post, a user commented, “at best we are looking at a stagnation” suggesting that prices will either rise or just stay steady, coming down was not an option.
While this is the harsh reality of the real estate market in India. Pointing out the time to buy a home, a user shared, “best bet is when the bubble bursts, just for a brief period of time they may be at little discount that too not premium properties as they get sold even in bullish real estate markets, logo ke paas boht paisa hai (People have a lot of money) to not leave good quality projects.”