NEW DELHI: The National Capital Region (NCR) is progressively attracting developers from Mumbai and Bengaluru, with price growth in the market surpassing other areas, experts indicate.
Mumbai’s Oberoi Realty is set to introduce its initial project in Gurugram this fiscal year, while Lodha and Rustomjee are exploring land acquisition opportunities in the region, according to informed sources.
Bengaluru’s Prestige Group and Sobha, early movers in the region, are now ramping up their expansion, making NCR their fastest-growing market.
Godrej Properties and Tata Realty from Mumbai are also bolstering their presence in NCR. Newcomers like Dalcore are selecting Gurugram for their real estate launches.
“Delhi-NCR remains a magnet for developers from across India, driven by strong end-user demand, investor confidence, and advancing infrastructure. The region’s connectivity improvements, particularly around the Dwarka and Noida Expressways and the upcoming Noida International Airport, are reshaping its residential areas and creating new micro-markets,” stated Shalin Raina, managing director of Residential Services at Cushman & Wakefield.
Approximately 50,000-60,000 housing units are launched in NCR annually, with a total market value exceeding ₹1 lakh crore.
Luxury housing is a significant growth catalyst, with Gurugram contributing nearly 87% of NCR’s luxury launches in the quarter ending September 30. The premium segment has experienced price increases averaging 10-12% annually, reflecting strong absorption rates and long-term value potential. “This, coupled with competitive pricing, enhanced livability, and a broad buyer pool—including NRIs and investors—renders Delhi-NCR one of India’s most appealing real estate markets,” Raina added.
According to real estate services firm Anarock, major Indian cities reported a 3% rise in new housing supply last quarter, launching 96,690 units compared to 93,750 units the previous year. The Mumbai Metropolitan Region led in new supplies, introducing 29,565 units during the quarter, followed by Pune with 19,375 units.
Residential prices in NCR saw the largest increase among the top seven Indian cities at 24% in the quarter, with Bengaluru at 10%. The average growth across these cities was 9%.
“The NCR real estate market had long been lacking in quality and professionalism compared to other regions. However, the influx and expansion of leading developers is poised to transform the landscape,” commented Rahul Purohit, co-founder of the real estate services platform Square Yards.
