'5 crore is the new 1 crore:' IIT Bombay alumnus narrates ordeal while trying to buy land, sparks discussion

Kalpit Veerwal shared his predicament in a viral post on X. (Image: @kalpitveerwal/X)

Owning a house or any sort of property is a dream for many. However, it is not any easy feat and sometimes it takes years to manifest. Something similar happened with an IIT Bombay alumnus. Kalpit Veerwal took to X to narrate his ordeal while trying to purchase a plot of land. And his post sparked a discussion on the microblogging site.

Veerwal talked how five crore is the new one crore in metro cities. He claimed that he it is difficult to get a decent flat in one crore. “Five crore is the new one crore. Can't even get a decent plot of land in one crore anymore (in metros, it's not even a decent flat),” read his post.

See the post here:

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 Veerwal (@kalpitveerwal) April 3, 2024

Since being shared online, the post has gone viral with over 80,000 views. It also triggered a conversation on X, with social media users weighing in with their own opinions and experiences.

“20 years ago 'Kaun Banega Crorepati' show really meant something, for 1 crore back then you could get so much. A decent flat in a city like Noida will cost 1 crore now, don't even want to think about Bengaluru and Mumbai,” one user wrote.

Another user commented, “Very subjective. You can easily find a decent plot in 1-2 Cr in tier 2 cities.”

“Even in tier 2 cities, 50 lakh is the new 1 Cr. Highly over inflated,” a third user remarked.

A fourth user added, “The more you have the more you need. The less you have the less you need. Seeing people struggling, salty and miserable at 1cr. Also seeing people living their heart out at 20 lakh.”