“Gurugram prices rise 67 %”: warn CA

Nitin Kaushik Legal Accountant raised the warning bells about what he describes as “Fomo Bubble” Gurugram. In a sharply defined post on X (Twitter previously), Kaushik wondered whether the increase in property is a real growth in the market or a dangerous game led by invested euphoria and ease of credit.

“Gurugram? Or only the wealthy play Irl?” Books, referring to some amazing characters:

• House prices in Gurugram increased 65-67 % since January 2023.
• The indirect housing stock is at the lowest level in 10 years-which indicates red demand.
• The cost of 2BHK apartments for beginners is now more than 1 crore rupees.

However, Kaushik argued that this boom is not supported by the basics. He pointed out that “the salaries did not grow until 1/3 of this pace,” and pointed to a highlight of the growing gap between income and the ability to withstand housing costs.

He also explained that the dynamics leading the market: “Builders are launching more luxury. Setthel -class buyers?

According to him, the market offers classic signs of the speculation bubble – the display of supply, fallen prices, and the deterioration of the ability to withstand costs.

“This is not a boom,” Kushik cautioned. “This looks like a Fomo real estate bubble backed by credit and invested greed. The question is – who will carry the bag when it explodes?”

His observations sparked great participation via the Internet, which sparked controversy over whether the Gurugram market is heading to a correction or simply entering a new era of prices that depend on the elite.