38 Out of 50 Housing Markets Show Steady Growth; Gurugram Leads at 5.9%
The latest Residential Price Monitor by eXp Realty India provides a comprehensive analysis of average quarterly housing price movements across 50 residential markets in India. The study evaluates sustained price trends over the past year, offering a long-term view of market performance.
Key highlights from the report include:
- 38 out of 50 markets recorded positive average quarterly price growth, reflecting broad-based resilience across metro, regional, and commuter-driven markets. - Gurugram emerged as the strongest-performing housing market, registering an average quarterly price growth of 5.9% over the past year. This performance is driven by sustained end-user demand, supported by its corporate ecosystem and continued infrastructure additions. - Navi Mumbai and Greater Noida followed closely with average quarterly growth rates of 5.8% and 5.3%, respectively. These cities are benefiting from connectivity improvements and long-term development activities. - Price appreciation is geographically diversifying, with cities like Bhubaneswar and Noida posting 4.9% growth, indicating stronger absorption beyond traditional metro hubs. - Only eight markets registered modest declines, with Kochi seeing the steepest fall at -2.0%, suggesting that corrections remain localized rather than systemic.
Sam Chopra, President and Country Head of eXp Realty India, emphasized the importance of viewing housing market performance through a long-term lens. While short-term price changes often dominate public discourse, the underlying trend across most markets points to stability rather than stress. Strong performances in markets such as Gurugram, Navi Mumbai, and Greater Noida reflect genuine end-user demand rather than speculative activity.
Even in cities where prices have softened, Chopra pointed out that these movements are highly localized and do not undermine long-term confidence in India’s residential sector. Industry participants attribute strong pricing trends in NCR markets to recent and upcoming infrastructure additions. For instance, Gurgaon, a mature market, has seen price increases supported by new infrastructure developments like the Dwarka Expressway and the opening of UER 2. Noida, on the other hand, is rapidly developing as a luxury-focused market, with new launches benefiting from the upcoming international airport and superior infrastructure.
The broader findings indicate that residential demand continues to be shaped by infrastructure expansion, employment concentration, and urban migration across regions. With the majority of markets recording stable or positive growth, the data suggests a phase of measured, geographically diversified expansion across India’s housing sector.
These trends are not only positive for investors and homebuyers but also for the overall economic health of the country. As infrastructure projects continue to roll out and employment opportunities grow, the housing market is likely to see sustained growth in the coming years, benefiting a wide range of stakeholders.
