13 hours ago
'Welcome to India': Redditor's post on Gurgaon vs Toronto real estate prices starts a 'NRIs or blackmoney' debate
A Reddit post comparing real estate prices in Gurgaon and Toronto has gone viral, stirring a debate on income disparity and property affordability.
Posted by Mohit Yadavv, the viral post highlighted the shocking contrast: a 3 BHK in Gurgaon costs around ₹2.95 crore, while a similar property in Toronto is priced at ₹4.4 crore. Yet, India's per capita income is just $3,000 compared to Canada's $54,000 — an 18x difference. In contrast, real estate prices differ by only 1.5x.
'Those buying in Gurgaon either have one in Toronto too, or they're simply stretching themselves without reason,' one Redditor remarked.
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Another comment pointed fingers elsewhere: 'It's not just NRIs distorting the market. They're too few to create this kind of disparity. It's the black money in the system inflating these prices.'
However, one person said the comparison is wrong. "Scarborough is not Toronto, it's part of GTA(Greater Toronto Area) and is historically a crime ridden bad neighbourhood. Actual Condo prices in actual Toronto suburbs or downtown would be upwards of 1 million easy. Go towards Mississauga and Brampton and you will find the same," he pointed out.
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Another said, "Canada population is 40 million and india population 1.45 billion see the population difference. GDP is divided by population. Many indian go to Canada for studies."
Skyrocketing Gurgaon Property Prices
According to a report by
ANAROCK
titled
'NCR Real Estate—A Beacon of Growth and Opportunity'
, NRIs accounted for 15–25% of investments in newly launched residential projects across India's top seven cities — Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata — in 2024.
The report further revealed that
average property prices in New Gurgaon
rose to ₹10,350 per sq. ft in 2024 — a 76% surge since 2019 and a 34% jump since last year. Overall, Gurgaon witnessed an 84% price hike, from ₹6,150 per sq. ft in early 2020 to ₹11,300 by March 2025.
Residential prices along the Dwarka Expressway more than doubled in five years — from ₹5,360 per sq. ft in 2019 to ₹11,000 in 2025 — due to improved connectivity with Delhi and key Gurgaon locations like Golf Course Road and Old Gurgaon.
Sohna Road, another hotspot in southern Gurgaon, recorded average prices of around ₹6,000 per sq. ft in 2024. The area is emerging as a go-to destination for affordable housing seekers, the report noted.
