IIT Topper Claims He Is Struggling To Find 'Decent Flats In Metros' For Rs 1 Crore

With developments advancing across various regions, the real estate sector is witnessing an unprecedented surge in prices. Acquiring one’s dream home now requires a considerable amount of effort. Highlighting this struggle, Kalpit Veerwal, an alumnus of IIT Bombay, pointed out that finding a decent property has become significantly challenging in today’s time. Additionally, amid this difficulty, he remarked, Rs 5 crore now equates to the value that Rs 1 crore held in the past.

“5 Cr is the new 1 Cr. Can’t even get a decent plot of land in 1 Cr anymore (in metros not even a decent flat),” Kalpit wrote on social media platform X (formerly Twitter).

Have a look at the post here:

His post quickly went viral, amassing over thousands of views. The post sparked a variety of reactions from the online users, many of whom shared their own experiences while facing similar challenges.

One user stated, “Very well said. In South Delhi’s posh areas, the starting price is around 3 crores. You can get a decent flat in a posh area of South Delhi for 5 crores. Nothing substantial is available for 1 crore,” while another shared, “I’m from a very small town in West Bengal. Here you can’t make a decent house if you don’t have 1 crore. Land prices are too high. It was 5 lakh/ katha in 2020, Now it’s 40 lakh/ katha.”

“1 crore is chump change, even in tier-4 cities like Dimapur. My dad and I sank 1.5 crores, just alone in setting the foundations for my new RCC building, but it was a marshy area,” wrote another user.

“I am having 16 laks of debts but I have 3+ acres of land in a decent smart City.. interest on the debt is increasing but land rates are also pumping up each month.. felt like 16laks is not much in front of that,” shared a person about his ordeal.

“Yeahh so true the rise is crazy from the Covid ka rate and if there are rate cuts it’ll increase more,” read a comment.

“Why would you assume that the value of 1 CR would stay stagnant? Of course it would decrease with time. That’s how money works,” remarked another person.

In 2017, Kalpit Veerwal from Udaipur, Rajasthan, achieved a remarkable feat by scoring a perfect 360 out of 360 in the JEE (Joint Entrance Examination) Mains. He became the first person ever to accomplish this remarkable achievement.