'Crazy high prices...': Gurgaon property prices soar as returning NRIs pour overseas earnings into real estate

A post on Reddit has reignited concerns over skyrocketing property prices in Indian metros, particularly Gurgaon, with many blaming the surge on returning NRIs flush with overseas earnings.

The discussion was kicked off by an NRI who, after three years in the US, is planning to return to India due to increasing visa-related hurdles. “I’m worried about the crazy high property prices in cities like Gurgaon, where NRIs coming from double-income families or vast years of earnings in the US seem to be driving up costs,” the poster wrote, adding that affording a home now feels daunting.

The concern comes amid a wave of US visa rejections and tech layoffs pushing NRIs to park their savings in India’s real estate market. As a result, cities like Gurgaon and Bengaluru have seen property prices soar, benefiting some investors but squeezing out both locals and returning NRIs from the market.

The post drew sharp responses from other users. “Even in Hyderabad both job and real estate markets are heating up with the number of US-returned NRIs,” one commenter noted. Another advised, “Extend your stay in the US as much as possible to save for a down payment. Gurgaon is overrated and the bubble will burst. Plus, rental yields are low, and tenants have plenty of options.”

Others argued that overpricing is not limited to Gurgaon. “Real estate in India, especially in Tier 1 cities, is grossly overpriced. Don’t buy — rent if you have to,” one user wrote, while also pointing to two key drivers of demand: high-paying jobs in top multinational companies, and the appeal of gated communities offering first-world amenities in otherwise crumbling urban infrastructure.

Across India’s major cities — from Mumbai and Delhi to Hyderabad and Pune — real estate prices have climbed to record highs, far outpacing income growth. For first-time homebuyers, particularly those without generational wealth or overseas earnings, the dream of owning a house is increasingly slipping out of reach. Experts warn that unless supply catches up or speculative demand cools, this trend could lock an entire generation out of the housing market.