Delhi NCR Sees 9% Surge in Luxury Housing Sales in H1 2025: JLL Report
The first half of 2025 saw a positive trend in the luxury residential homes segment in Delhi NCR, as per the latest analysis by JLL. Luxury homes priced at Rs 5 crore and above were in high demand, with the market witnessing sales of 5,168 luxury homes in H1 2025. This marks a 9% increase compared to H1 2024, where 4,763 luxury units were sold in the market.
Across the top 7 Indian cities, Delhi NCR accounted for 65% of the total luxury sales. Factors such as rising disposable income, aspirational lifestyle priorities, and homebuyers seeking homes with better amenities have kept the demand for luxury housing steady in the National Capital Region. Despite an annual decline in residential sales volume in the first half of 2025 across all cities, including Delhi NCR, real estate developers are actively launching luxury supply with top-notch amenities and superior construction quality.
Dr. Samantak Das, chief economist and head of research & REIS, India, JLL, stated, “Developers remain confident about Delhi NCR’s vast market expanse to absorb such products, particularly because of the upcoming festive season and tamed inflationary scenario in the country at large. In fact, prominent real estate developers with a strong foothold in Delhi NCR are finally venturing beyond the home turf to take exposure in markets like Mumbai. Despite a significant annual dip of 23% in Delhi NCR’s overall sales across ticket sizes, the luxury segment remained unaffected. The share of luxury sales to the overall sales has also swelled to 27% in H1 2025, as compared to 19% and 12% in H1 2024 and H1 2023, respectively.”
Manish Aggarwal, senior managing director (North and East) India, JLL, added, “Gurugram has firmly established itself as the epicentre of luxury real estate in India, contributing an overwhelming 91% of Delhi NCR’s luxury residential sales transactions and helping the region capture 65% of luxury sales nationwide. NCR’s luxury housing market has demonstrated remarkable resilience, growing by 9% year-over-year, reflecting both the changing preferences of affluent homebuyers and Gurugram’s strategic transformation into a premium housing destination. The Southern Peripheral Road and Dwarka Expressway corridors have emerged as particular hotspots, now accounting for 61% of Gurugram’s luxury market. Since 2020, 22,000 housing units have been launched in Delhi NCR’s primary residential market, which caters to the price segment of Rs 5 crore and above. 89% of all such units have been in various locations of Gurugram and have fuelled homebuyer interest in fancy homes that come with resort-like amenities.”
Southern Peripheral Road (SPR) accounted for 39% of all such sales in Gurugram in H1 2025. Prominent national and large regional players launched luxury projects across SPR in the first half of the year. The recent completion of Dwarka Expressway (Northern Peripheral Road) has boosted the demand for luxury housing in the Dwarka Expressway and Southern Peripheral Road submarkets. Dwarka Expressway’s completion was a major factor behind a hefty fillip to residential property prices in this belt, which led to high-end products boasting of a higher price tag and hence came within the ambit of products above Rs 5 crore. Southern Peripheral Road and Dwarka Expressway together constituted 61% of the total luxury sales in Delhi NCR in H1 2025. Other upcoming infrastructure initiatives like the upcoming Gurugram Metro line would further enhance the appeal of these emerging corridors and make them a viable investment and a feasible living option.
Established submarkets for luxury and ultra-luxury products, such as Golf Course Road, witnessed steady demand for such projects launched in the past couple of months. However, the overall sales volume for products above Rs 5 crore remained limited to 10% of the pie because most of the newly launched projects on the Golf Course Road have extremely limited units available for sale now.
Looking ahead, Delhi NCR is expected to maintain its dominance across the country’s top metros in terms of luxury housing demand and supply. Physical infrastructure advancements, better employment opportunities, and increased urbanization would continue to strengthen Delhi NCR’s luxury housing market in the near to mid-term.
