A Noida resident recently went viral after sharing his frustration over the city's skyrocketing real estate prices. In a video posted on Instagram by @lifethroughamanseyes, he explained that he started searching for a house after realizing the monthly rent he pays could instead go toward a home loan. However, what he discovered left him shocked.
Even a ₹1 Crore Budget Wasn't Enough
According to the man, he expected to find a decent home within a budget of ₹1 crore. Instead, property brokers quoted prices ranging from ₹1 crore and ₹1.5 crore to ₹2 crore as if they were the norm.
He said that even after stretching his finances to the limit, ₹1 crore was the maximum he could afford. Yet, many of Noida's newly launched residential projects were well beyond his reach.
"Most new projects start at around ₹2 crore. Some are ₹2.5 crore, while others go up to ₹4 crore," he said in the video before asking the question that resonated with thousands online: "Who is buying these homes?"
"Has the Middle Class Suddenly Become So Rich?"
What puzzled him most wasn't just the price of the properties but the fact that they appeared to be selling.
He questioned how salaried professionals could afford homes worth several crores while also managing daily expenses, supporting their families and maintaining a comfortable lifestyle.
"I really don't understand. Has the middle class suddenly started earning so much?" he asked, echoing a concern shared by many aspiring homebuyers.
Internet Users Shared Similar Concerns
The video quickly gained traction, with many social media users saying they related to the man's experience.
Several commenters argued that current property prices are inflated and don't reflect the actual value of the homes. One user described the situation as a "property bubble," claiming that while the construction cost of a typical two-bedroom apartment may be significantly lower, buyers are paying several times more.
Another user pointed out that older apartments in established housing societies are, in some cases, selling for even higher prices than flats in newly launched projects.
Others Defended the High Prices
Not everyone agreed that the prices were unjustified.
Some users argued that buyers aren't simply paying for an apartment but for the overall lifestyle that comes with premium housing. They highlighted amenities such as landscaped gardens, swimming pools, clubhouses, enhanced security, cleaner surroundings and well-maintained communities as factors that contribute to the higher price tag.
Others advised against taking on massive home loans that could take decades to repay. Instead, they suggested continuing to live in rented accommodation until purchasing a home becomes financially comfortable.
The viral video has reignited a conversation around housing affordability in India's major cities. As property prices continue to rise, the Noida resident's question remains one that many prospective homebuyers are asking today: Who can actually afford to buy a home at these prices?
