Luxury housing defies slowdown in NCR; Gurugram hotspots pull 9% growth in H1 2025

Even as Delhi NCR’s overall housing sales dropped 23% in the first half of 2025, the luxury segment — homes priced at ₹5 crore and above — posted a robust 9% year-on-year growth, driven largely by Gurugram’s emerging real estate corridors and a shift in buyer preferences towards high-end living.

Data from JLL shows that 5,168 luxury units were sold in NCR in H1 2025, up from 4,763 a year earlier, giving the region a 65% share of luxury home sales across India’s top seven cities. The segment’s share of total housing sales in NCR has also jumped to 27%, from 19% in H1 2024 and 12% in H1 2023.

What’s driving the demand

1.  Gurugram’s dominance and hotspots

Gurugram accounted for an overwhelming 91% of NCR’s luxury sales in the first half of the year. The Southern Peripheral Road (SPR) and Dwarka Expressway corridors have emerged as key magnets, together contributing 61% of Gurugram’s high-end transactions.

o SPR alone accounted for 39% of sales, fuelled by new launches from leading developers.

o The completion of Dwarka Expressway has boosted connectivity, pushed property prices up, and moved more projects into the ₹5 crore-plus bracket.

2. Post-pandemic lifestyle shifts

Affluent buyers are increasingly prioritising larger homes with resort-style amenities, private workspaces, and better community infrastructure. Rising disposable incomes and aspirational living standards are keeping luxury demand steady.

3. Developer confidence and supply push

Since 2020, nearly 22,000 luxury units have been launched in NCR — 89% in Gurugram — with developers betting on sustained demand ahead of the festive season.

“Prominent developers with a strong foothold in NCR are also venturing into other metros like Mumbai, signalling confidence in the luxury segment’s growth trajectory,” said Dr. Samantak Das, Chief Economist & Head of Research & REIS, India, JLL.

4. Infrastructure upgrades as catalysts

Beyond Dwarka Expressway, upcoming projects like the Gurugram Metro line are expected to further enhance connectivity and drive housing demand in peripheral markets.

“Gurugram’s transformation into a premium housing hub has been deliberate and well-timed, with infrastructure and premium product supply aligning with the evolving preferences of high-net-worth buyers,” noted Manish Aggarwal, Senior Managing Director (North & East) India, JLL.

Outlook

With strong demand drivers, better infrastructure, and an expanding base of affluent buyers, Delhi NCR is expected to retain its lead in India’s luxury housing segment over the next few years.

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