The luxury residential segment in Delhi NCR has defied the general slowdown in India’s housing market, with sales climbing to 5,168 units in the first half of 2025 , an 8.5% year-on-year increase, according to real estate consultancy JLL. The growth comes despite an overall 23% decline in total housing sales volume in the region during the same period.
Gurugram continues to anchor the region's premium housing growth, contributing 91% of all luxury home sales in Delhi NCR between January and June 2025. Within Gurugram, the Southern Peripheral Road (SPR) and Dwarka Expressway submarkets remained dominant, accounting for 61% of luxury transactions. These two corridors, enhanced by infrastructure development and a string of high-end launches, have become the most active destinations for ₹5 crore-and-above housing projects.
Demand Stable Despite Market Headwinds
According to the report, the demand for luxury homes in NCR has remained steady, supported by rising disposable incomes, growing preferences for larger homes with modern amenities, and a renewed focus from investors. Samantak Das, Chief Economist and Head of Research and REIS at JLL India, noted that despite a 23% year-on-year decline in overall housing sales across Delhi NCR, the luxury segment continued to demonstrate strong resilience and growing market share.
The luxury segment’s share in the total sales mix has expanded significantly, from 12% in H1 2023 to 19% in H1 2024, and further to 27% in H1 2025. This upward trend highlights a decisive shift in buyer behavior, particularly among affluent end-users and investors focusing on long-term asset value.
SPR, Dwarka Expressway Drive New Supply and Sales
The completion of key infrastructure projects is seen as a central factor behind the continued traction in Gurugram’s high-end residential segment. The Dwarka Expressway, now fully operational, has significantly boosted accessibility between Delhi and newer sectors of Gurugram, leading to increased interest from luxury homebuyers.
JLL noted that the SPR alone accounted for 39% of all luxury sales in Gurugram during the first half of the year. Developers such as DLF, M3M, and Elan have capitalized on this momentum with a flurry of high-value launches offering upgraded layouts, gated townships, and amenities tailored for aspirational urban buyers.
Meanwhile, areas like Golf Course Road — long considered Gurugram’s most prestigious address — continued to perform steadily. However, their share in overall luxury transactions fell to around 10%, primarily due to limited inventory and fewer new launches.
Upcoming Infrastructure Fuels Optimism
The outlook for the luxury housing segment remains positive, backed by infrastructure expansion and stable macroeconomic indicators. JLL anticipates further buyer interest as projects like the upcoming Gurugram Metro line, the Global City development, and expressway linkages mature over the next few quarters.
Manish Aggarwal, Senior Managing Director (North and East) at JLL, observed that developers remain optimistic about NCR’s capacity to absorb luxury housing supply. He pointed out that since 2020, around 22,000 luxury units have been launched in the region, with nearly 89% of them concentrated in Gurugram, underscoring the city’s emergence as a major destination for high-end residential projects.
Additionally, with inflation showing signs of moderation and the festive season approaching, real estate firms are expected to accelerate launches and buyer outreach campaigns in the second half of the year.
Regional Expansion Underway
In a notable shift, several NCR-based developers are now looking beyond their core markets to expand into Mumbai and other metros. This move suggests growing confidence in replicating their luxury housing models in newer geographies, driven by brand reputation and access to similar aspirational buyer segments.
While Gurugram continues to dominate the NCR luxury market, Noida and parts of South Delhi have also seen pockets of premium development. However, their volumes remain significantly lower, and supply is largely limited to select gated enclaves and redevelopment zones.
With supply pipelines aligned to emerging luxury corridors and infrastructure-backed connectivity shaping buyer preferences, Delhi NCR's high-end housing segment is poised to remain a stronghold in India’s evolving real estate landscape.
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