As housing prices in major Indian cities continue to soar, many middle-class families find it increasingly difficult to enter the real estate market. Recent discussions on Reddit highlight how the growing cost of homes and slow income growth push homeownership out of reach for many. Users share insights on the impact of rising prices, with some suggesting that it may be better to pay rent for now and wait for prices to correct before taking the leap into homeownership.
According to recent estimates shared on Reddit, the average cost of a home in major metros like Mumbai, Delhi, Bengaluru, and Hyderabad now ranges between ₹1.2 crore and ₹1.5 crore. Meanwhile, the median annual income for an urban household is around ₹7–8 lakh.
Even with both partners working, netizens said the combined income often isn’t enough to save significantly for a home. Most families spend a large portion of their salaries on rent, education, daily expenses, and rising living costs. Redditors say whatever little remains is insufficient to keep pace with skyrocketing real estate prices.
“Not sure if this is 5% or a massive 30% correction, but it’s on the cards – look at the latest new sales data 10-20% drop in new sales vs last year. I would suggest just waiting and paying your rent for another 5-8 months and then revisiting the prices,” one of the users commented.
Also Read: Bengaluru and Delhi-NCR housing sales dip amid price hikes and job worries
Even 25-year-old societies in Delhi are witnessing skyrocketing prices, Reddit users discuss
For middle-class homebuyers in Delhi, the dream of owning a home is becoming increasingly distant. According to several Reddit users discussing the current property market, even a 2BHK flat in a 25-year-old society is now priced at around ₹1.7 crore.
These aren’t luxury apartments or newly built towers with modern amenities. Rather, they are old buildings needing repairs, with basic facilities, limited parking, and ageing infrastructure. Yet, prices continue to rise, driven by high demand, limited land availability, and the overall surge in urban property rates, say Redditors.
In areas of South Delhi and even some parts of West and East Delhi, these ageing societies are still commanding premium prices, despite their condition.
Also Read: Bengaluru tech layoffs: Is it the right time to invest in real estate? Netizens weigh in
Buyers forced to move away from the city centres due to high costs
According to netizens, in cities like Mumbai and Bengaluru, where real estate prices have surged sharply over the past decade, many buyers are being forced to look beyond city centres. However, moving further out often means sacrificing access to quality schools, healthcare, and job hubs.
While cities like Kolkata and Chennai offer relatively more affordable options, middle-class buyers in these areas still struggle to keep up. The cost of a decent 2BHK in a good neighbourhood often exceeds ₹80 lakh, not including registration fees, maintenance, and interior work.
Many buyers also expresssed frustration over poor construction quality and delays in possession.
