Why NCR Remains India’s Safest Real Estate Bet Amid Rising Prices

By Ashwani Kumar

New Delhi, January 20, 2026: For nearly three decades, Delhi NCR has occupied a unique position in India’s property landscape, large enough to absorb multiple demand cycles, diversified enough to offer every asset class, and liquid enough to provide exit visibility even during slowdowns. Today, as average residential prices across NCR touch record highs, the region is no longer viewed as a value buy. It has transitioned into a mature, infrastructure-led investment market where entry costs are rising, but structural demand remains intact. The real question for investors is no longer whether NCR will grow, but whether it continues to offer the safest risk-adjusted returns among Indian metros.

Recent data suggests that NCR’s price momentum is not an isolated spike. ANAROCK Group’s NCR Real Estate – 2025 and Q3 2025 PAN India Residential Market Viewpoints report indicates a 23–24 per cent year-on-year rise in residential prices, significantly ahead of most major cities. Luxury housing has been the strongest driver, with homes priced above INR 1.5 crore recording nearly 72 per cent growth over the past three years, pushing average values close to INR 23,100 per sq ft in that segment. PropTiger’s Real Insight Residential report for July–September 2025 echoes this trend, showing NCR leading the country with roughly 19 per cent annual appreciation, even as overall transaction volumes across major cities softened marginally.

The operationalisation of the Dwarka Expressway, rapid progress on the Noida International Airport at Jewar, the Delhi–Mumbai Expressway, and metro expansion are reducing distances, which, in turn, are leading to the creation of new residential areas. As a result, micro-markets that were previously on the city’s peripheries, such as southern Gurugram, parts of Greater Noida West, and pockets along the Yamuna Expressway, are now emerging as viable residential pockets.

However, as was the case a few years ago, the current demand is not driven by investors. At the same time, rental markets have also rebounded with corporate leasing resulting in higher returns. Magicbricks’ PropIndex Delhi-NCR Q3 2025 notes a 10.3 per cent rise in buyer demand in Delhi during the quarter, the highest among major cities, underscoring sustained user interest even at higher price points.

Liquidity remains NCR’s key advantage over other metros. JLL India’s Residential Market Dynamics Q3 2025 report highlights that Delhi-NCR accounts for nearly 65 per cent of luxury housing sales across India’s top seven cities, with Gurugram alone contributing close to 87 per cent of luxury supply additions during the quarter. This concentration of high-value transactions reflects both buyer confidence and the region’s capacity to absorb premium inventory.

From a comparative lens, NCR offers stronger scalability than markets such as Mumbai, where supply constraints and regulatory bottlenecks limit expansion, and Bengaluru, where price growth remains more closely linked to a single sector cycle. While Mumbai benefits from global capital flows and Bengaluru from technology employment, NCR’s demand base is broader, spanning corporates, manufacturing, logistics, government services, and a large self-employed population, reducing cyclical volatility.

Market sentiment, however, remains structurally positive. Knight Frank–NAREDCO’s Real Estate Sentiment Index for mid-2025 places North India above the neutral threshold, reflecting optimism among both developers and buyers heading into 2026. Regulatory discipline under RERA, improved balance sheets among top developers, and institutional capital participation have collectively reduced execution risk compared to previous cycles.

The case for investment in NCR, therefore, stands on a firm footing. Though investors seeking short-term momentum may encounter volatility, those with a long-term view will continue to benefit. As a final note, NCR remains one of India’s safest real estate markets, offering unmatched liquidity, diversified demand engines, and visible infrastructure growth.

The author heads sales and marketing at Pyramid Infratech

DISCLAIMER: The views expressed in the above piece are personal and solely those of the writer. They do not necessarily reflect Realty & More’s views.