"Beyond Reach Of Middle-Class ": Post Highlights How Buying a Home In Delhi Now A Distant Dream

In Delhi, the dream of homeownership is becoming increasingly elusive for middle-class professionals. The surge in property prices and stagnant salaries has made it difficult for middle-class families to afford homes within city limits. Recently, a Reddit user shared a post highlighting the harsh reality of being a working professional in Delhi, yet unable to buy a home. The user recounted how his family asked him to look for a property in Delhi, as they held onto the traditional view that Ghaziabad and Noida are undesirable. This limited their options and led to some surprising findings. 

"Recently, my family asked me to look for a property in Delhi, as they are coming from the old mindset that Ghaziabad/Noida is bad, so I have to look for properties within Delhi," the post was captioned on Reddit.

See the post here:

Delhi real estate is beyond the reach of a middle-class salary person, salary wale toh bhul hi jao
byu/Brown_jamun inindianrealestate

The user shared how properties in well-known neighborhoods came with exorbitant price tags, making homeownership seem like an unattainable luxury. For instance, a 3BHK in IP Extension costs a Rs1.8 crore, while properties in Krishna Nagar range from Rs 95 lakh to Rs 1.8 crore. Other areas, such as Model Town and CR Park, boast prices of Rs 2.5 crore - Rs 4.5 crore, respectively. Even a luxurious 4 BHK elsewhere comes with a hefty price tag of Rs 6.5 crore.

Despite owning ancestral property valued at over Rs 2 crore in North-East Delhi, the user found it unreasonable to sell it and take on a significant loan to move into a new flat. Their parents were willing to help with the down payment, but even that didn't alleviate the financial burden, especially since they were hesitant to sell their current home.

"I just want to get out of North-East Delhi, but buying a property is so hard now. My parents don't want to sell our ancestral property, which is worth more than 2 crore (huge area) in North-East Delhi. It seems I'll easily end up with a debt of 1 crore, even though my parents are depositing the initial amount. But I can't make them pay the bills. Moving from a whole house to a flat worth crores doesn't seem fair to me, but kya hi kar sakte haan ab?" the user lamented. 

The post sparked a sense of solidarity among those struggling to bridge the gap between their incomes and the soaring costs of owning a home. One user wrote, "We're not asking for luxury—just a livable home. But even that now costs crores."

Another commented, "Real estate is the biggest scam in India. In 2014, a 3 BHK flat cost Rs 30 lakh. Now, in the same area, a smaller flat costs Rs 1.4 crore. A fresher's salary was Rs 3 LPA in 2014, and it's still around Rs 3.5 LPA now. Even someone earning Rs 40 LPA today can't buy a flat easily."

A third summed up the situation saying, "With prices sky-high, from a common perspective, I think a long winter is coming. Many people will not be buying, and prices may stagnate for a long time. My only worry is that if we have a weak economy with uncertain jobs and markets, and if the rupee falls further, the income-affordability gap will widen even more. Meanwhile, only low-quality builders might survive. At the end of the day, the common man will be screwed."

A fourth added, "Middle-class Indians: born to pay rent, die with EMIs." A fifth advised, "Paying crores for a flat after leaving a proper ancestral house feels like a downgrade... Maybe try convincing them for Noida/Ghaziabad — better societies, less debt, and bigger space."