Netizens’ posts on home purchases
Netizens are claiming that buying a home abroad, including at Burj Khalifa in Dubai, is cheaper than purchasing one in Gurugram. Posts have surfaced comparing property prices in Gurugram’s prominent real estate developer DLF’s latest project to those in Dubai, Italy, and Los Angeles, suggesting that properties can be found for less in those locations. One netizen pointed out that a unit with nearly 9,500 square feet on Golf Course Road in Gurugram was sold for Rs 80,000 per square foot, implying a price of around Rs 75 crore for an affordable home in Gurugram. They noted that the building has 400 units, collectively valued at Rs 34,000 crore.
In response to these prices, several netizens on X (formerly Twitter) compared them to property rates in Dubai, stating that properties can be found there for 5 to 10 times less. One netizen explained that even in prime areas of Dubai, numerous properties under Rs 75 crore can be found online. Global property buyers are particularly interested in areas like Palm Jumeirah, Jumeirah Bay Island, Jumeirah Islands, and Emirates Hills in Dubai. Recently, Dubai Marina and Downtown Dubai have also gained fame for luxury and ultra-luxury branded residences.
According to a report by Housing.com, in the third quarter of 2024, the average property price in Gurugram is projected to be between Rs 12,000 and Rs 12,900 per square foot, while on Golf Course Road and in Satellite City, the average price is between Rs 22,500 and Rs 27,100 per square foot. As per prop-tech unicorn NoBroker, the average price of a single-bedroom unit in Gurugram is currently around Rs 50 lakh, while a 2 BHK is priced at Rs 90 lakh and a 3 BHK at Rs 1.5 crore.
When it comes to property prices in Dubai, data collected from property consultancy JLL shows that in Jumeirah Golf Estates and Arabian Ranches, the price per square foot currently ranges from Rs 41,196 to Rs 45,774. In Dubai Hills, the price per square foot is between Rs 36,619 and Rs 45,774. At Emirates Hills, it ranges from Rs 57,217 to Rs 68,661, while in Palm Jumeirah, prices fluctuate between Rs 1,02,991 and Rs 1,19,012 per square foot. Overall, the average home price in Dubai is approximately Rs 64 crore.
Moreover, purchasing property in Dubai is quite straightforward, and owning property can make one eligible for a Golden Visa. If the property value exceeds Rs 5 crore, individuals have the opportunity to obtain a Golden Visa. Additionally, there are no taxes on personal income or capital gains, which is an attractive feature for Indians struggling with high tax rates. This is why netizens are commenting that buying a home in Dubai is cheaper than in Gurugram.
