A viral social media post reveals how even high earners in India, such as a ₹20 lakh annual salary professional, struggle with homeownership in Gurugram due to a staggering 160% rise in property prices, highlighting a growing housing affordability crisis in major urban centres.
The aspiration to own a home remains a deeply ingrained goal for many Indians, symbolising stability and financial security. Yet, recent narratives underscore a disquieting reality: even those with seemingly robust salaries find themselves boxed out of homeownership in major urban centres like Gurugram. A particularly illuminating example emerged in a viral social media post by Akhilesh, a tech professional, who shared his friend’s predicament of earning Rs 20 lakh annually but still being unable to afford a home despite a substantial monthly salary of Rs 1.2 lakh after taxes and deductions.
Akhilesh’s commentary highlights the stark contrast between income and real estate affordability, especially in Gurugram, where luxury developments have proliferated. He noted that properties start at an eye-watering ₹2.5 crore and feature lavish amenities such as infinity pools and biometric lifts. His friend’s financial woes illustrate a troubling trend: even earning more than 95% of the population, his friend would need to live paycheck to paycheck should he pursue homeownership.
The post has ignited a broader conversation on social media, bringing to light the frustrations of many young professionals grappling with soaring housing costs across Indian cities. Commenters have shared similar experiences, resonating with Akhilesh’s insights. One user remarked on how the situation is not isolated to Gurugram, mentioning that housing prices in Hyderabad are similarly inflated, with luxury villas reaching prices of ₹9 crore. Another noted that even with a higher income of ₹50 lakh, individuals struggle to secure homes, compounded by the influence of black money in the real estate sector.
These sentiments echo a troubling trend reflected in recent data. Research indicates that national home prices in India have surged by approximately 4.3% last year, with projections suggesting a further increase of 7.75% this year. The focus on luxury housing, primarily driven by ultra-high-net-worth individuals, increasingly marginalises the average homebuyer. For many, the dream of owning a home slips further away as the market becomes increasingly centred around affluent buyers and speculative investments.
Gurugram, in particular, has become a focal point for these escalating prices, witnessing a staggering 160% rise in housing costs over the last five years. The average price per square foot in the area has ballooned from ₹7,500 in 2019 to ₹19,500 today. Factors contributing to this steep escalation include robust infrastructure development, and an influx of Non-Resident Indians (NRIs) and High-Net-Worth Individuals (HNWIs) eager to invest in real estate. As a result, the hope of affordable housing continues to dwindle, with many potential buyers resigned to renting as the only viable option.
This volatility in the real estate market is indicative of a broader systemic issue where the dreams of stable homeownership conflict starkly with the harsh realities of rising prices. The ongoing conversation sparked by Akhilesh’s humble yet illustrative narrative points not only to the personal struggles of individuals but also to a societal challenge that calls for a critical reassessment of our urban housing policies and economic priorities.
As the discussion continues, the plight of the aspiring homeowner serves as a poignant reminder of the pressing need to explore sustainable solutions that can bridge the widening gap between income and housing availability across India’s ever-evolving urban landscape.
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Source: Noah Wire Services
- https://www.ndtv.com/offbeat/man-with-20-lakh-salary-cant-afford-a-home-in-gurugram-viral-post-sparks-discussion-8611815 – Please view link – unable to able to access data
- https://www.reuters.com/world/india/luxury-property-frenzy-set-drive-up-home-prices-india-2024-09-03/ – A Reuters poll of 16 housing experts indicates that home prices in India are projected to rise steadily, driven by strong demand for luxury properties from wealthy individuals. Despite India’s robust economic growth, the benefits are primarily accruing to a select few, creating challenges for millions of job-seekers. The affordable housing supply is dwindling while luxury housing flourishes, making it difficult for first-time buyers to afford homes, leading them to continue renting. National home prices, which grew 4.3% last year, are expected to increase 7.75% this year and another 6.0%-6.25% over the next two years. The trend is fueled by ultra-high-net-worth individuals and post-pandemic high-income earners, despite recent interest rate hikes by the Reserve Bank of India. The affordability for average income earners remains a significant challenge. Housing rents are also expected to rise faster than consumer price inflation, particularly in major cities like Bengaluru, Mumbai, Pune, and Gurgaon due to focused demand and migration from smaller towns seeking better job opportunities.
- https://www.hindustantimes.com/real-estate/housing-prices-in-top-10-cities-surge-88-in-five-years-gurugram-sees-maximum-increase-at-160-mumbai-lowest-at-37-101728896108331.html – Housing prices in India’s top 10 cities have surged by 88% over the past five years, with Gurugram witnessing the maximum increase at 160%. According to real estate data analytics firm PropEquity, the average housing price in Gurugram rose from ₹7,500 per sq ft in 2019 to ₹19,500 per sq ft in 2024. This significant rise is attributed to factors such as massive infrastructure development, growing interest from NRIs, HNIs/UHNIs, and stock market gainers looking to create wealth and generate income through real estate investment, rising homeownership sentiments, and an overall shift towards luxury/super luxury homes as a result of rising aspiration and affluence.
- https://www.financialexpress.com/money/gurugram-emerges-as-real-estate-powerhouse-in-2023-3289568/ – In the April-June 2023 quarter, residential property prices across India experienced a commendable 6% year-on-year increase, with Gurugram leading the pack with an impressive 12% year-on-year growth. Recent data from Magicbricks only serves to underscore Gurugram’s meteoric ascent, boasting a remarkable quarter-on-quarter growth of 28.9%, far surpassing the national average of 10.4%. The demand surge can be attributed to Gurugram’s burgeoning status as a global hub for industries, start-ups, MNCs, and a substantial-high-quality workforce in search of superior housing options. The focus on infrastructure upgradation and augmentation in NCR, especially Gurgaon with its high-quality living standard, is adding to this demand surge. This momentum is expected to continue as NCR is grappling with housing supply in the mid to premium segment, and there is huge potential building up in this segment.
- https://businessnewsthisweek.com/business/gurugram-real-estate-market-witnesses-a-remarkable-surge-of-14-9percent-in-property-prices-report-by-geetanjali-homestate/ – Gurugram’s real estate market has experienced a remarkable surge of 14.9% in property prices, with average prices ranging from Rs 7,400 to Rs 7,550 per sqft in Q3 2023. The report by Geetanjali Homestate highlights substantial year-on-year and quarter-on-quarter growth in various Gurugram localities. For instance, Sector 42 witnessed a year-on-year growth of 44.1%, with property prices surging to an average range of Rs 45,000 to Rs 47,000 per sqft in Q3 2023. Similarly, Sector 54 experienced robust year-on-year growth of 28.5%, with property prices currently ranging from Rs 22,000 to Rs 24,000 per sqft in Q3 2023. The real estate landscape of Gurugram is currently undergoing a significant transformation, marked by an unprecedented surge in property prices throughout the city.
- https://www.etnownews.com/real-estate/gurugram-property-rates-soaring-like-an-eagle-prices-in-this-area-50-up-yoy-27-jump-for-dwarka-expressway-article-110568304 – Gurugram’s property market is witnessing unprecedented growth, with property rates soaring across various localities. In the first quarter of 2024, the average property price in the city ranged between Rs 9,880 to Rs 10,400 per sqft, marking a substantial 28% jump from Q1 of 2023. The Dwarka Expressway region witnessed a 27% year-on-year rise in average property prices, reaching Rs 10,700 per sqft. The MG Road area experienced a remarkable 50% year-on-year growth, with prices reaching Rs 23,400 per sqft. These significant increases are attributed to factors such as massive infrastructure development, growing interest from NRIs, HNIs/UHNIs, and stock market gainers looking to create wealth and generate income through real estate investment, rising homeownership sentiments, and an overall shift towards luxury/super luxury homes as a result of rising aspiration and affluence.
- https://www.ndtv.com/offbeat/man-with-20-lakh-salary-cant-afford-a-home-in-gurugram-viral-post-sparks-discussion-8611815 – A social media post highlights a man earning Rs 20 lakh annually unable to afford a home in Gurugram. The tech professional emphasizes that high salaries do not guarantee housing affordability in major cities. Discussion on social media reflects widespread concern over soaring real estate prices across Indian cities. Owning a home remains a major aspiration for many, driven by the desire for stability and potential income. However, in recent years, surging property prices have pushed homeownership out of reach for many in major metro cities. Amid this, a social media post about a man earning Rs 20 lakh a year and still unable to afford a home in Gurugram has triggered a discussion about soaring real estate prices in Indian cities. The post has gone viral on social media, sparking a discussion of soaring prices in Indian cities.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative appears to be original, with no substantial matches found in earlier publications. The earliest known publication date of similar content is April 15, 2025, in BusinessToday, discussing a similar issue of housing affordability in Gurgaon. ([businesstoday.in](https://www.businesstoday.in/latest/trends/story/it-is-nearly-impossible-despite-rs18-crore-budget-man-unable-to-afford-3bhk-house-in-gurgaon-472011-2025-04-15?utm_source=openai)) This suggests that the content is fresh and not recycled. The report is based on a viral social media post, which typically warrants a high freshness score. However, the absence of earlier versions with differing figures, dates, or quotes indicates consistency in the narrative. No discrepancies were found in the data presented. The inclusion of updated data alongside older material does not appear to be the case here. Therefore, the freshness score remains high.
Quotes check
Score:
9
Notes:
The direct quotes from Akhilesh and the Reddit user are unique to this report, with no identical matches found in earlier material. This suggests that the quotes are original or exclusive to this narrative. No variations in wording were noted, indicating consistency in the reporting. The absence of earlier instances of these quotes further supports the originality of the content.
Source reliability
Score:
7
Notes:
The narrative originates from NDTV, a reputable organisation known for its journalistic standards. This adds credibility to the report. However, the reliance on a single social media post as the primary source introduces some uncertainty, as social media content can be subjective and may not always be verified. Additionally, the report includes user-generated content from Reddit, which, while providing personal perspectives, may not always be fact-checked. Therefore, while the primary source is reliable, the inclusion of user-generated content necessitates a cautious approach.
Plausability check
Score:
8
Notes:
The claims made in the narrative are plausible and align with known issues in urban housing markets, particularly in rapidly developing areas like Gurugram. The discussion about the disparity between income levels and housing affordability is consistent with broader economic trends. The report also references recent data on housing price increases, which supports the plausibility of the claims. However, the reliance on a single social media post and user-generated content introduces a degree of subjectivity, which should be considered when evaluating the overall plausibility.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative presents original content with unique quotes and aligns with known issues in urban housing markets. While the reliance on a single social media post and user-generated content introduces some uncertainty, the overall credibility of the report is supported by the reputable source and the consistency of the information presented.
