The National Capital Region (NCR) has emerged as India’s hottest housing market, with residential prices soaring 24% year-on-year during the July–September 2025 quarter, according to data from real estate consultancy Anarock. The sharp jump, the highest among the top seven Indian cities, is attributed to robust demand for luxury homes, improving infrastructure, and rising buyer confidence.
Delhi-NCR leads the surge
As per Anarock, the average housing price in Delhi-NCR climbed from ₹7,200 per sq. ft last year to ₹8,900 per sq. ft in the latest quarter. Key markets driving this growth include Gurugram, Noida, Greater Noida, Delhi, and Ghaziabad.
Developers and consultants attribute the price surge to strong end-user demand and growing preference for premium and lifestyle-driven residences.
“The 24 per cent surge in NCR’s housing prices marks a structural realignment in end-users’ behaviour,” said Manoj Gaur, CMD of Gaurs Group. “Homebuyers are prioritising ownership in well-planned, lifestyle-led cities.”
National snapshot: 9% average rise
Across India’s top seven cities, housing prices rose by 9% year-on-year, reaching an average of ₹9,105 per sq. ft from ₹8,390 per sq. ft last year.
Here’s how other metros performed during July–September 2025:
| City | Average Price (₹/sq. ft) | YoY Change |
|---|---|---|
| Delhi-NCR | ₹8,900 | +24% |
| Mumbai (MMR) | ₹17,230 | +6% |
| Bengaluru | ₹8,870 | +10% |
| Pune | ₹7,935 | +4% |
| Hyderabad | ₹7,750 | +8% |
| Chennai | ₹7,010 | +5% |
| Kolkata | ₹6,060 | +6% |
Why NCR is outperforming
Industry leaders believe infrastructure projects and luxury segment growth are key drivers.
Ashish Jerath, President – Sales & Marketing at Smartworld Developers, said:
“In Gurugram, prices have been supported by new infrastructure developments like the Dwarka Expressway and the UER II. Noida, meanwhile, is rapidly developing as a luxury-focused market, with projects benefiting from the upcoming international airport.”
Ashok Kapur, Chairman of Krisumi Corporation, added that the surge reflects “sustained demand for quality homes across segments” as buyers seek “better lifestyles and value-driven living spaces.”
Moderation ahead
Despite the strong annual rise, Anarock noted a 1–3% quarterly increase compared to April–June 2025, signaling a mild cooling in momentum after the post-pandemic price boom.
Vijay Harsh Jha, CEO of VS Realtors, cautioned that “price growth could moderate ahead amid declining new launches and a slowdown in sales.”
With strong demand, infrastructure-led development, and growing affluence, Delhi-NCR continues to dominate India’s housing price charts — and experts believe its luxury housing momentum will sustain well into 2026.
