Big Shift: Delhi-NCR Overtakes Mumbai and Hyderabad with Over 1 Lakh Crore in Sales

New Delhi, April 15, 2025: The Delhi-NCR housing market continues to see a meteoric rise, breaching the 1 lakh crore sales value threshold, with Gurugram alone owing to 66 per cent growth, says a report by PropEquity. The total sales value of Delhi-NCR rose by 63 per cent in 2024 to INR 1.53 lakh crore, while that of Mumbai stood at INR 1.38 lakh crore, up 13 per cent and Hyderabad at INR 1.05 lakh crore, down 18 per cent. Besides, Ghaziabad, Greater Noida, Faridabad and New Delhi have also witnessed a notable rise in sales value. This statistical spike signals an evolution in how homebuyers are choosing their preferred living destination.

Various factors have contributed to NCR’s growth performance. Foremost among them is the city’s rapid infrastructure development—particularly the advent of the Dwarka Expressway and its proximity to IGI Airport. These enhancements have made connectivity seamless and have spurred real estate demand in adjacent micro-markets.

Dr Gautam Kanodia, Founder of KREEVA and Kanodia Group says, “What we are witnessing in Gurugram is a mindset shift. Homebuyers are investing in a lifestyle that aligns with who they are and where they see themselves five or ten years from now. We have observed a threefold rise in demand for luxury homes, especially along the Dwarka Expressway and SPR. This trend reflects not only the trend but also the quality of demand. As buyers are emphasizing high-end amenities, wellness features, smart automation, and community-first living, Gurugram isn’t just leading on numbers; it’s leading a new kind of housing narrative.”

Further, this growth is attributed to a growing corporate presence and ample employment opportunities in NCR, especially Gurugram. In addition, with the influx of high-net-worth individuals and NRIs looking to invest back home and an emerging class of affluent millennials, the demand for premium homes has soared to record levels.

Sandeep Chhillar, Founder and Chairman, Landmark Group, says, “The catalyst behind Gurugram’s breakout year lies in infrastructure—and Dwarka Expressway is a textbook case of how connectivity transforms value. With the advent of the expressway, we have seen adjacent sectors light up with buyer interest. Buyers want more than just space—they want walkable communities, retail access, and social infrastructure. Following such market trends, at Landmark we have been intentional about aligning our portfolio with these growth arteries, catering to both work and lifestyle needs in the coming future.”

Moreover, the city’s real estate boom is being powered by a dynamic mix of established and emerging micro-markets, each catering to distinct buyer segments. In Gurugram, Golf Course Road, New Gurugram, and SPR continue to command the city’s most premium corridors, attracting top-tier buyers seeking exclusivity and high-end urban living. Meanwhile, benefitted by the evolving dynamics, Noida’s greenest and most upscale suburbs, Sector 150 has transformed into one of the most promising micro-markets in NCR. Boasting wide roads, lush landscapes, and low-density planning, this sector is fast catching up with the NCR’s rapid real estate evolution making it a magnet for families and first-time luxury buyers.

Prateek Tiwari, MD, Prateek Group says: “Infrastructure expansion, increased demand for quality living and buoyed investors’ confidence is contributing to the impressive growth of NCR’s housing market. Among the shining hotspots, Noida Sector-150 and Siddharth Vihar stand out as promising micro-markets for high-end residential investment. Their strategic location, integrated township developments, and infrastructure-driven growth have positioned them as sought-after destinations. Further, the expansion of metro connectivity and expressways has significantly boosted real estate demand in these corridors. With a mix of high-end living spaces and increasing commercial viability, we believe these areas are set for strong end-user demand and steady price appreciation in the coming years.”

Ashwani Kumar, Pyramid Infratech, says, “There’s a marked evolution in Gurugram’s buyer profile; luxury homes are no longer reserved for the ultra-rich. The sector is seeing a blend of young professionals upgrading early, HNIs expanding their portfolios, and NRIs returning to invest in premium assets closer to global standards. Thus, the INR 1 lakh crore sales reflect how Gurugram is redefining premium living for domestic and global audiences. At Pyramid, we ensure that our projects are not just about plush interiors—they’re about curated living, security, and long-term value.”

Confidence among both developers and buyers remains high, with the market set for sustained growth well into 2025 and beyond. With its infrastructure edge and aspirational buyer base, NCR will continue carving out its identity as the luxury capital of Indian housing.