‘₹2-crore flats, ₹1.5-lakh EMIs’: Homebuyers question if owning a house in Gurgaon makes sense

Gurgaon’s skyrocketing property prices are forcing prospective homebuyers to question whether purchasing their dream residence still makes financial sense the NCR’s prime real estate hub. Most buyers are considering if it is worth spending crores in fear of missing out and making an irrational decision leading to massive EMI burden. 

The debate gained traction after a senior tech professional in his early 30s shared his dilemma online, outlining the financial strain of buying a 2-3 BHK apartment in Gurgaon.  

According to the post, most ‘livable’ options now start at ₹1.8 crore and go beyond ₹2.5 crore, translating into monthly EMIs ranging between ₹95,000 and ₹1.5 lakh over a 20-year loan tenure — even after a substantial down payment. 

“For a family with young children and long-term responsibilities, committing to such massive EMIs feels uncomfortable,” the user wrote, questioning whether such borrowing has simply become normalized in urban India. 

One of the concerns flagged was the sharp escalation in property prices following the COVID-19 pandemic. Homes that were reportedly selling for ₹60-70 lakh just a few years ago are now being sold at astronomical amounts. 

The rapid appreciation has left many wondering whether Gurgaon is witnessing a speculative bubble or a permanent repricing of real estate driven by demand from high-income buyers, NRIs and investors. 

Rent vs Buy 

The post also highlighted the opportunity cost of home ownership. Instead of servicing a high EMI, the user argued that investing ₹40,000 per month in market instruments yielding 10-11 percent annually could potentially grow into ₹1.6-3 crore over 15-20 years and is fully liquid without the stress of debt. 

This comparison reignited the long running ‘rent vs buy' debate, especially among younger professionals balancing career uncertainty, childcare costs and long-term financial planning. 

The discussion drew significant responses from other users, many of whom echoed concerns over affordability and risk. 

A user remarked that Gurgaon’s prices are ‘insanely high’ and not justified by its infrastructure, suggesting that a market correction is overdue. 

Another cautioned against rushing into a purchase noting that large EMIs can quickly turn stressful in the event of job loss or income disruption. The user stressed the importance of financial buffers, recommending at least six months of savings covering EMIs and household expenses before taking on a home loan. “An EMI of ₹90,000 to ₹1 lakh only feels safe if someone earns ₹3-4 lakh a month with strong savings and stable income,” the person wrote. 

No crash, but no relief either 

Others argued that a price crash is unlikely in premium markets like Gurgaon. According to one user, the resale market is largely driven by NRIs and high-net-worth individuals, who view luxury apartments as long-term wealth storage rather than short-term investments. 

With affluent buyers relocating from traditional neighbourhoods in north and west Delhi to newer developments, prices may stagnate but are unlikely to fall sharply, the user said highlighting that renting makes a more sensible option for many middle- to upper-middle-class families.

The discussion reflects a huge shift in urban India, where homeownership long considered a marker of stability is increasingly being evaluated through a financial lens rather than an emotional one.  

As salaries struggle to keep pace with real estate inflation, prospective buyers are asking a fundamental question: are homes still about security, or has FOMO taken over the decision-making process?