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Buying a house in Gurugram has no longer become a dream of common people, but a question of capability of high earners. Real estate experts have revealed the real reason for the high prices of the city. He says that property prices here are not determined by aspirations but by purchasing power.
New Delhi. Buying a house in Gurugram has now become a question not of dreams and aspirations, but simply of pocket power. Real estate experts believe that Gurugram was never designed for people with average income. According to him, the high property prices here are not the result of any irregularities, but reflect the economic structure of this city.
Difficult for those earning less than Rs 3 lakh
According to experts, if the monthly income of a family is less than Rs 2.5 to 3 lakh, then it is very difficult to buy a house in Gurugram. He clearly said that this is not a matter of pride, but an economic reality. To buy a house in Gurugram in 2025, the typical requirement is a family with two earning members, whose total income should be Rs 2.5 to 5 lakh per month.
Savings and big loan are also necessary
Monthly income alone is not enough. Experts say that to buy a house, savings of around Rs 80 lakh to Rs 1 crore and a home loan of Rs 3 to 5 crore are required. In many cases, it is not possible to complete the deal without the financial help of the parents. He says that despite having a monthly income of Rs 3 lakh, it is extremely difficult to buy a house without strong savings or family support.
Gurugram is different from common Indian cities
Real estate experts argue that Gurugram is not a ‘normal’ Indian city. Here the demand comes not from the increase in population but from limited number of people earning more. Most of the people buying property in this city are senior corporate professionals, startup founders, CXOs, NRIs and foreign nationals. This is the reason why the impact of news of economic recession or job cuts remains limited here.
High income and lack of land
There are two major reasons behind the stability of property prices in Gurugram – high income and shortage of land. Constant demand from high earning people and limited land keeps supply in check. Apart from this, NRI and expat investments further strengthen this market, which are not much affected by the local environment.
Why does Gurugram remain attractive?
Due to these reasons, even during economic slowdown in Gurugram, demand does not completely end and prices do not fall suddenly. The resale market also remains strong. According to experts, the bitter truth is that most people cannot afford Gurugram, and this is the reason why the value of property here remains high.
