Techie Reveals Struggles of Affording a Home in Gurgaon Despite Rs 20 Lakh Annual Salary
A recent social media post has ignited a heated debate about the unaffordable real estate market in Indian cities. On X, a tech worker named Akhilesh shared a conversation with his friend, who, despite earning Rs 20 lakh annually, finds it impossible to afford a home in Gurugram with decent amenities. This situation underscores the increasing difficulty of homeownership, even for high earners, due to skyrocketing real estate prices.
Akhilesh's friend, who earns around Rs 1.2 lakh per month after taxes, EPF, and deductions, is faced with the reality that buying a house with modern amenities, such as infinity pools and biometric lifts, would leave him living paycheck to paycheck. The friend has no car, no kids, and only a partner, yet the financial burden of homeownership is still daunting.
The post has resonated with many who are struggling with similar issues. 'It’s wild how even a high salary feels inadequate in certain cities. Many people are in the same boat, juggling expenses while trying to save. It makes you question what success means nowadays,' wrote one user. Another commenter shared, 'It is the same story everywhere. In Hyderabad, a triplex villa outside ORR quotes a minimum of 2.5 crore. There are villas being sold for 9 crore, not sure what on earth these villas have. If one wants an apartment, prices range from 1.5 to 3 crore based on location. Buying a home is not a common man's dream anymore. The real estate market is completely in the hands of black money hoarders.'
The conversation has also sparked discussions about the broader economic and social implications. 'Gurgaon has brand new flats starting from as low as 65 lakhs for a 2BHK. Humans are aspiring high with shallow pockets,' expressed a third user. 'With this money, he can go to his ancestral home (most probably in a village), build a Lutyens bungalow, and enjoy clean air, clean water, grandeur, and a better social life. Stick with the cultural roots, better health, there are countless benefits,' suggested another.
The post has also raised questions about the transparency and fairness of the real estate market. 'Not just your friend, even people whose CTC is 50 lakh couldn't afford to buy apartments, forget about villas. For a low per capita country like India, the real estate prices are in the sky. Yet every project is sold out in pre-launch. Who and how they are buying is a mystery,' commented one user.
The situation in Gurugram is not unique; it reflects a broader trend in urban Indian cities where the cost of living, particularly housing, is outpacing income growth. This has significant implications for the quality of life and financial stability of young professionals and families. The debate continues to rage on social media, with many calling for more affordable housing options and greater transparency in the real estate market.
