'More expensive than Dubai now': Analyst on real estate market in Delhi, Gurugram, Mumbai, other metro cities
Financial analyst Akshat Shrivastava decoded the grim realities of the Indian real estate market in a recent social media post.
- Jul 18, 2025,
- Updated Jul 18, 2025 1:44 PM IST
Buying real estate has now come to become an impossible dream for the middle class, especially in metro cities, thanks to the exorbitant property rates and down payments. Financial analyst Akshat Shrivastava decoded the grim realities of the Indian real estate market in a recent social media post.
In his post, Shrivastava said that real estate in Indian metros such as Delhi, Gurgaon and Mumbai is more expensive than Dubai at present.
He mentioned that since the last couple of months, he has been receiving a lot of phone calls on his Dubai number from Indian real estate developers. He also talked about how these phone calls usually go.
"Their pitch is: buy property in metros in India because it is growing really fast. And, the prices are going up 'really fast'. Okay, if I were a noob, I would have bought those lies. This simply shows is: the desperation in the Indian real estate market (in metros)," he wrote on X.
He further said that the prices are too steep for the locals to be able to afford real estate in the country. Due to this, Shrivastava said that the Indian real estate developers are adopting a different strategy.
"The locals have been priced out from buying. And, the developers are reaching out to NRIs to sell. Think about it: an upper-middle-class Indian would not have the paying capacity to buy overpriced homes in Indian metros anymore. Consider buying anything in Delhi, Gurgaon, Mumbai -- it is more expensive than Dubai now."
He further said that during the bull run of 2021-24, a significant number of properties were sold to NRIs and payment plans were relaxed, leading to massive speculation. Shrivastava said that not just this, local buyers who could sign up for an EMI were lured into signing one.
"Who is left to buy now? NRIs. All this kind of shows desperation in the Indian metros' real estate market," he signed off.
Buying real estate has now come to become an impossible dream for the middle class, especially in metro cities, thanks to the exorbitant property rates and down payments. Financial analyst Akshat Shrivastava decoded the grim realities of the Indian real estate market in a recent social media post.
In his post, Shrivastava said that real estate in Indian metros such as Delhi, Gurgaon and Mumbai is more expensive than Dubai at present.
He mentioned that since the last couple of months, he has been receiving a lot of phone calls on his Dubai number from Indian real estate developers. He also talked about how these phone calls usually go.
"Their pitch is: buy property in metros in India because it is growing really fast. And, the prices are going up 'really fast'. Okay, if I were a noob, I would have bought those lies. This simply shows is: the desperation in the Indian real estate market (in metros)," he wrote on X.
He further said that the prices are too steep for the locals to be able to afford real estate in the country. Due to this, Shrivastava said that the Indian real estate developers are adopting a different strategy.
"The locals have been priced out from buying. And, the developers are reaching out to NRIs to sell. Think about it: an upper-middle-class Indian would not have the paying capacity to buy overpriced homes in Indian metros anymore. Consider buying anything in Delhi, Gurgaon, Mumbai -- it is more expensive than Dubai now."
He further said that during the bull run of 2021-24, a significant number of properties were sold to NRIs and payment plans were relaxed, leading to massive speculation. Shrivastava said that not just this, local buyers who could sign up for an EMI were lured into signing one.
"Who is left to buy now? NRIs. All this kind of shows desperation in the Indian metros' real estate market," he signed off.