businesstoday.in-‘More expensive than US, Europe’: Executive slams ‘unchecked hyperinflation’ in India’s real estate
Yogen Shah, Supply Chain Director at Petrofac, has raised concerns about India's soaring real estate prices, questioning why there has been no correction despite hyperinflation. In a LinkedIn post, he compared property rates in Indian metro cities to those in the US and Europe, highlighting the stark contrast in GDP and per capita income.
Shah cited a recent example of a friend who purchased a 1,100 sq. ft. apartment with three bedrooms in a Mumbai suburb for ₹3.5 crore. "How do they fit 3 BR in 1,100 is beyond my imagination," he remarked, calling the Indian real estate market "hyperinflated." He attributed this to "black money of corrupt earners."
