Is the asking price fair? A one-hour check, with real numbers from one Gurgaon sector

A broker's "that is the market rate" proves nothing, and a locality average proves less than it seems. The useful question is narrower: among flats like this one, in this pocket, on the same basis, where does the asking price sit? It takes about an hour.

First, how wide "the market" really is

The Gulmohar Atlas holds 10,776 Gurgaon sale listings, and Gurgaon's median asking price is ₹14,318 per sq ft. That single number hides two kinds of spread.

Between localities. Among 16 localities with 100 or more listings, medians run from ₹9,090 per sq ft in Kasan / Manesar village to ₹18,549 in DLF Phase 4, roughly a factor of two.

Inside one locality. In Sector 56 the 25th percentile is ₹12,678, the median ₹15,364 and the 75th percentile ₹18,583 per sq ft, across 534 listings, so, in our calculation, the 75th is 47% above the 25th.

In a worked example, for a 1,300 sq ft flat that is about ₹1.65 crore at the 25th percentile, ₹2.00 crore at the median and ₹2.42 crore at the 75th, a spread of about ₹77 lakh in one sector. Being 10% above the median adds about ₹20 lakh.

The one-hour check

1. Pick the pocket. Use the same sector, society or project, not the city.
2. Match the flat. Same configuration, similar size, similar age, and a similar floor and facing.
3. Match the area basis. Under RERA, carpet area is the net usable floor area, excluding external walls, service shafts, exclusive balcony or verandah and exclusive open terrace, and including internal partition walls. A price on super built-up area is lower per sq ft than the same flat on carpet area, so never compare across the two. Ask for both areas in writing.
4. Work in price per sq ft. Total price hides size differences.
5. Find five comparables. From listings in the same pocket. Note the date; asking prices go stale.
6. Place yours in the range. Below the middle needs a reason to check; above the 75th needs a strong one.
7. Ask for what flats actually sold for. Ask the seller, a broker you trust or your lawyer for recent registered sale deeds in the building. Asking prices are a guide to sentiment, not proof of value.

What "fair" does not mean

An asking price is a seller's hope, and the data behind most price guides is asking prices too. A flat in the middle of its range can still be a poor purchase if the title is unclear, the project is not registered, or the EMI strains you. Price is one of several checks. The others are in our guide to what to verify before paying a token.

Where Gulmohar fits

Gulmohar's evaluation does steps 1 to 6 for a specific property. It shows the 25th percentile, median and 75th percentile of asking prices for its area, where they come from, how many listings sit behind them and when they were checked. When it has no comparable prices for an address, it says so instead of guessing.