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The Story of the Sudden Millionaires of Gurgaon


The Story of the Sudden Millionaires of Gurgaon

Last updated: October 4 2010
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  • The Story of the Sudden Millionaires of Gurgaon

    Sharing with you all this interesting article I read in TOI; which i think is a true reflection of the the 'Sudden Millionaires'. Thanks to the Indian real estate BOOM.

    Gurgaon is a vast adolescent real estate that stands in the glow of new paint. Luminous glass buildings, stout bustling malls and gigantic hives of apartments named after lords, knights and birds are spread over green lawns that people from Bombay would call parking.
    It is unmistakably the colony of the young, its marketplaces and restaurants teeming with EMI couples and their 'we-two-ours-two' children, and in the pale background, a dark melancholic maid.

    Across this district that has no clear perimeter anymore, work is in progress. It's more than just Delhi's satellite now.

    Many more buildings are rising and piers are becoming bridges. There is no evidence here of any other time but the present, though Dronacharya is rumoured to have been born in one of the hamlets.

    The hint that a different population once lived in Gurgaon arrives sometimes in dramatic ways. A housewife in Nirvana, a posh residential area, recalls the appearance of a rustic woman at her doorsteps.

    "I thought she wanted a job as a maid but then I realised she wanted to buy a house."

    And there lies the deeper story of Gurgaon's hidden but fortunate natives.
    Scions of the nomadic shepherds and farmers who once settled in Gurgaon and grew bajra, jowar and mustard in their arid lands, are today sudden beneficiaries of a spectacular revolution.

    The rise of the BPOs in the last decade, the coming of other service industries, and the brute force of builder enterprise have converted almost worthless farmlands into properties that now fetch one to eight crore rupees per acre, a 500 fold increase over the last ten years in a generalisation.

    Landed farmers who till recently earned about Rs 15,000 per acre a year through farming, are millionaires now even by dollar standards.

    And the carnival is only intensifying. Last year, over 800 acres of land were transacted. Big builders already own 10,000 acres in Gurgaon and they are buying more.

    In the delirium of sudden affluence, farmers are buying cars like the Skoda or Ford Endeavour on full down payment. Enchanted by the real estate industry, many are becoming land brokers. Some are lost to drinking and .

    Women who used to wake up at four in the morning to finish household work, have today discovered bed tea. They even call it "bed tea".

    When two neighbours now cross each other in the lane, there is a silent duel in their minds to decide who would say "Ram Ram" first.

    Recently, five Jats walked into a school and asked the teachers, very politely, if there was a smart girl of marriageable age among their students.

    The men told the baffled teachers that the family had earned three crore rupees from a land sale but they were all illiterate. They had decided one of the brothers should marry an educated girl who would know how to handle the money.

    Among the many fortunate farmers, is Chatar Singh, an unexcitable 56-year-old man with keen, hard eyes. His white kurta has stains here and there.

    In a conservative estimate, he is worth over 35 crore. He lives with two brothers and together they own five cars. Like many farmers in this area, he has been selling land to purchase more land in the outskirts of Gurgaon.

    Now he owns 19 acres worth about Rs 20 crore, according to brokers. "This land around my house is worth 15 crore," he says sitting on a cot and smoking a hookah. His grandchildren go to schools that cost over a lakh a year. "Good schools," he says. "I went to a school where the teachers would come to the class and make sweaters."

    His wife is veiled and is part of the background. His two teenaged sons are lying on a sofa like content pythons.

    "Money has changed everything. Man has no real friend left anymore in the village. Everybody is doing his own thing," he says. "Money teaches you new things. Till recently, we didn't know the heart could stop suddenly. Now heart attacks are common."

    In old Gurgaon, an area that is also called a "village" in these parts, the glamour of the new developments gives way to overcautious pigs, narrow clogged lanes and the chaos of the mofussil. Old money lives here.

    Vijay Jain, who is called seth even by the new millionaires, is a large man with a gentle giant's manners. In him there is this force of rustic intelligence.

    His ancestors were village money lenders and generations of farmers have turned to his family for advice. Today, no farmer in the surrounding village sells his land without consulting Jain.

    Since the whole trade runs on trust, his role is crucial. He advises farmers on the right price and tells them how to invest in more land in the outer fringes of Gurgaon.

    "Apart from land, I think it is a good idea for farmers to invest in making residential blocks with small rooms. There are lakhs of Bihari migrants here already. More will come. They need places to stay on rent. There is money in it," he says.

    A farmer need not pay income tax on the earnings from the sale of his land if he uses the money to buy another piece of agricultural land within three years.

    Even if this provision did not exist, the bullish farmers of Gurgaon would have invested in land. When 75-year-old Simrat Singh is asked his views on the easy-come-easy-go character of money, he says without blinking, "I have put my easy money in more easy money. I have bought land."

    He also bought a car, "a small car" but he does not know it is called Santro.

    This is the new Story of Gurgaon Friends....and also very true. Does your so called 'booming' city also transcend the same storyline? Do let us know
    Last edited April 9 2007, 09:11 AM.
  • #2


    Re : The Story of the Sudden Millionaires of Gurgaon

    Infrastructure has to compliment real estate

    As I'm reading this, I feel as if I'm seeing the mirror of Gurgaon. Great presentation.

    Gurgaon is a city of diversities....where glass buidings have jhuggis for neighbourhood, swanky cars and 'buses loaded with people on rooftops' ply on the same roads; and bumpy roads lead to the most sophisticated location. (I wish I had pictures to show you)

    Its time people send a wakeup call to the authorities as I believe....real estate alone cannot thrive without a complimenting infrastructure.

    Hey friends!! Do your city reflect the same image?

    How about some pictures............


    • #3


      Re : The Story of the Sudden Millionaires of Gurgaon

      Gurgaon Sucks for Sure – NOTHING BUT THE TRUTH

      Gurrrrrrrrrrrrr-Gaooooooooooon for Sure.

      The city/shity has lost all its ‘so called charm’. Did it have any in the first place? There is nothing to look forward to in this horrible city. It’s just a pity. A perfect example of how cities and things are shaping up in this great corrupt country.

      It is the nexus of the politicians, developers and the financers who control the prices.

      It seems most of the Gurgaonites are helpless as they are purely a victim of the wrath of the authorities like HUDA etc.

      The village called “Gur-Goan” is no “good” any more. Was it good anyway? Our politicians and bureaucrats are busy making their bit of money and the poor people (rich middle class) have to bear the brunt.

      Haryana as a state has been known to be a corrupt state with un-educated lot running the system.

      Talk about the state of roads, traffic, parks, parkings, office buildings, commercial offices, shopping malls, shacks, cattle, cows, dogs, liquor shops, cabs, locals or else, this lousy place has nothing to offer.

      Every morning, you find thousands of helpless people battling through in their cars to reach their offices and then crawl back to their homes later in the evening. It almost takes 2 hours to reach Delhi. The NH8 construction is a contuining menace.

      Cab drivers beat the Formula rally drivers and would probably give Michael Schumacher, a run for his money. The traffic cops are simply loitering on the roads or sitting/smoking on their chairs under some road side tree.

      The rickshaw pullers move like asteroids and can dodge/damage every single vessel that comes their way. They park virtually anywhere under the sun, be it crossings, corners or between the road.

      Well folks, the list goes on……… so if you are not worried about your property loosing steam by posting the Gurgaon truth, please feel free to do so…..

      Happy Migration!



      • #4


        Re : The Story of the Sudden Millionaires of Gurgaon

        Found an old thread. How do you people think this has changed with the time? Asking because i m new to Gurgaon & traveling from Delhi to work. Dont have much info about ggn inside stories


        • #5


          Re : The Story of the Sudden Millionaires of Gurgaon

          Nothing has changed, but thanks for bumping up a great thread - very good article
          Venky (Please read watch a or before posting)


          • #6


            Re : The Story of the Sudden Millionaires of Gurgaon

            Great piece of article shared by Expresso.
            3 years have gone by when this article was written, nothing substantial has changed in Gurgaon. And while we plan to invest in a new property, we expect the entire world to change around the property location. Prices might go up between the soft launch stage to the possession time for that property. However, all around development close to the project looks quite distant.
            We should also be concerned in some way for the development of the surroundings and check where our EDC charges goes to...
            In Gurgaon, EDC is a big amount of money Rs.332+ as compared to Noida. We nearly pay over 5 lacs for a 1500 sq. ft apartment.

            What say guys?


            • #7


              Re : The Story of the Sudden Millionaires of Gurgaon

              Hey !!!

              Nice article & on top of that nice comments.


              • #8


                Re : The Story of the Sudden Millionaires of Gurgaon

                Great comments, nice articles. Loved spending time , going through them.
                Please read IREF rules | FAQ's


                • #9


                  Re : The Story of the Sudden Millionaires of Gurgaon

                  Very nicely projected the situation, change of time, an its effect on people....


                  Have any questions or thoughts about this?