2025 proved to be a defining year for NCR’s housing market, with Gurugram consolidating its position as the region’s undisputed leader in luxury and premium residential demand. Even as housing volumes softened across several Indian cities, Gurugram accounted for an overwhelming share of NCR’s luxury home sales, underscoring a clear buyer preference for infrastructure-backed micro-markets and high-quality developments.

Among NCR’s micro-markets, Gurugram appeared to stand out, analysts said. Data from JLL shows that Delhi-NCR recorded 5,168 luxury home sales in the first six months (H1) of 2025, an 8.5% year-on-year increase, even as residential volumes softened across several major Indian cities. Gurugram alone accounted for 91% of NCR’s luxury sales, helping the region capture nearly 65% of luxury housing transactions across India’s top seven cities.

Luxury demand in Gurugram was concentrated along the Southern Peripheral Road (SPR) and the Dwarka Expressway, which together contributed 61% of the city’s luxury housing absorption, the JLL report released in August this year. Buyers showed a clear preference for locations backed by completed or near-complete infrastructure, better connectivity and projects offering expansive layouts, club-grade amenities and branded development credentials, the JLL report showed. While Golf Course Road continued to attract steady interest, limited new supply capped its share, allowing SPR and Dwarka Expressway to emerge as the new centres of luxury activity.

SPR alone contributed nearly 35–38%, while Dwarka Expressway added about 23–26% of luxury sales, reflecting buyers’ growing preference for corridors with completed or near-complete infrastructure and improved airport connectivity.

The report says that projects offering large unit sizes (3,000 sq ft and above), integrated clubhouses, wellness amenities and branded development credentials saw the strongest traction. In contrast, Golf Course Road continued to attract steady demand but contributed less than 15% of new luxury absorption during the period, largely due to limited fresh supply and near-saturation, allowing SPR and Dwarka Expressway to emerge as the dominant new centres of luxury activity in NCR.

In terms of new launches, Q3 2025 saw 10,245 new housing units launched across NCR, with 87% of luxury launches concentrated in Gurugram. Connectivity to Delhi, highways and IGI Airport, coupled with emerging submarkets such as New Gurugram and Dwarka Expressway, accounted for nearly half of the city’s quarterly launches, according to the report released on October 23, this year. While luxury and high-end homes made up 48% of new launches, the mid-segment dominated at 51%, which experts said reflected sustained demand from first-time buyers.

The weighted average launch price in NCR rose to ₹15,175 per sq ft, with Gurugram leading annual appreciation at 12%. In contrast, the relative figure for Noida was 10 %, while it was 8% for Faridabad and 7% for Ghaziabad.

Rental growth, particularly in the luxury segment, remained robust at 10% year-on-year, reinforcing the city’s appeal to both end-users and long-term investors.

Industry leaders attributed this momentum to economic and behavioural shifts. BK Malagi, vice chairman, Experion Developers said, “What really stood out in 2025 was how decisively Gurugram pulled ahead within NCR’s luxury housing market. Home prices in Delhi-NCR rose 19% year-on-year during the July–September quarter, with Gurugram contributing significantly. Projects like Jewar Airport and UER II have already started influencing buyer confidence across NCR. RBI’s cumulative 125 basis points rate cut brought genuine EMI relief, but beyond rates, the bigger story is wealth creation. Buyers today are financially stronger, more decisive and focused on quality over quantity.”

The broader real estate ecosystem also remained supportive. Rahul Singla, Director, Mapsko Group said the sector entered 2026 at a point of resilience and innovation. “Rapid growth in sustainability, digital adoption and inclusive project design defined 2025. Investor confidence—both domestic and international—remained strong, setting the stage for long-term value creation,” he said.

Shyamrup Roy Choudhury, founder and managing director, Aura World said, that demand remained healthy without signs of overheating. “The underlying economic environment has remained stable, giving buyers confidence to commit to high-value purchases. Luxury homes are being bought with a long-term mindset rather than short-term gains,” he said.

Infrastructure delivery was a defining catalyst through the year. The operationalisation of the Dwarka Expressway and UER-II reshaped connectivity across NCR, cutting travel times to IGI Airport and de-risking long-stagnant micro-markets.