Delhi-NCR Leads Housing Price Growth: Uncovering the Factors Behind the Surge
Delhi-NCR has seen a significant rise in residential property prices, outpacing other major cities in India. The region's infrastructure development, diverse micro-markets, and lifestyle aspirations are driving this growth.
DelhincrReal EstateHousing PricesInfrastructureInvestmentReal EstateJun 26, 2025
With real estate prices rising across India, Delhi-NCR is leading the pack with average residential prices in the region jumping by as much as 81 per cent over the last 5 years, as per ANAROCK’s recent report titled “NCR Real Estate—A Beacon of Growth and Opportunity.” Outpacing cities like Mumbai, Bengaluru, and Hyderabad, this impressive surge signals more than just a market upswing increasingly driven by end-users rather than speculators.
The report further indicates that the search volume for Noida increased by 92 per cent compared to last year. Greater Noida has posted the sharpest rise in average residential property prices, with a staggering 98 per cent jump, as prices nearly doubled from Rs 3,340 per sq ft in early 2020 to Rs 6,600 per sq ft by the first quarter of 2025. Gurugram, too, witnessed a healthy growth of 84 per cent, followed by Ghaziabad with 72 per cent and Faridabad with 50 per cent. Delhi posted a relatively modest 38 per cent rise in average apartment prices to Rs 25,200 per sq ft from Rs 18,200 per sq ft.
Besides these regions, several other micro-markets have also established their name as smart investment locations. Areas like the SPR corridor, Golf Course Road, Golf Course Extension Road, and New Gurgaon remain coveted addresses with a strong luxury housing supply. Meanwhile, Siddharth Vihar in Ghaziabad is experiencing heightened traction due to infrastructure-led growth, and Noida Sector 150 continues to shine as a green, sports-centric micro-market with strong investor demand.
According to Dr Gautam Kanodia, founder of KREEVA and Kanodia Group, Delhi-NCR has evolved into one of the most prime real estate investment zones in the country due to its price appreciation, and the depth and diversity its micro-markets hold.
“What connects micro-markets is a common thread of premiumisation. Locations like Golf Course Road and Golf Course Extension Road have evolved as addresses, gravitating toward well-curated, community-driven ecosystems that go beyond concrete. Hence, these zones are commanding attention for all the right reasons, and we believe that the price rise here is a reflection of long-term value, not short-term hype,” he added.
The surge in housing demand in Delhi-NCR is due to multiple factors. At the forefront is a massive infrastructure push spearheaded by the Dwarka Expressway, rapid progress on the Urban Extension Road (UER-II), the expanding Regional Rapid Transit System (RRTS), and enhanced metro connectivity, seamlessly linking emerging and established hubs. Gurugram recently saw another boost with the commencement of a newly built tunnel by NHAI for traffic trials, connecting the Dwarka Expressway directly to the Delhi-Jaipur Expressway; further strengthening regional accessibility and boosting NCR’s real estate momentum. Parallelly, developers are responding with quality-driven launches that prioritise space, sustainability, and smart living. Rising lifestyle aspirations have further catalysed demand for premium and luxury offerings.
Sandeep Chhillar, founder and chairman, Landmark Group, feels that the two key regions driving the real estate market are Dwarka Expressway and New Gurgaon.
“Their appeal lies beyond infrastructure and pricing; they stand as the epitome of planned urban living in NCR. What’s attracting buyers and investors is the quality of life these locations promise. Buyers' interest continues to remain strong in these markets, indicating that real estate is being viewed as a stable, long-term investment. As developers, we foresee this as one of those rare windows where timing and location align perfectly,” he said.
“Delhi-NCR housing market continues to gain momentum, with micro-markets like SPR emerging as strong performers in terms of capital appreciation and buyer preference. The corridor in the growth is being shaped by sustained infrastructure upgrades and a noticeable rise in aspirational living standards. This has translated into heightened interest from both end-users and investors. As developers, our focus is on creating developments that align with these expectations while adding long-term value to the SPR growth story,” Ashwani Kumar, Pyramid Infratech, concluded.
Frequently Asked Questions
What is driving the surge in housing prices in Delhi-NCR?
The surge in housing prices in Delhi-NCR is driven by multiple factors, including massive infrastructure projects, enhanced connectivity, and rising lifestyle aspirations. These factors are making the region more attractive for both end-users and investors.
Which areas in Delhi-NCR have seen the highest increase in property prices?
Greater Noida has seen the sharpest rise in average residential property prices, with a 98 per cent increase. Other notable areas include Gurugram (84 per cent), Ghaziabad (72 per cent), and Faridabad (50 per cent).
What are some of the key micro-markets in Delhi-NCR for investment?
Key micro-markets for investment in Delhi-NCR include the SPR corridor, Golf Course Road, Golf Course Extension Road, New Gurgaon, Siddharth Vihar in Ghaziabad, and Noida Sector 150.
How is infrastructure development impacting the real estate market in Delhi-NCR?
Infrastructure development, such as the Dwarka Expressway, UER-II, RRTS, and enhanced metro connectivity, is significantly boosting the real estate market in Delhi-NCR by improving accessibility and connectivity between emerging and established hubs.
What is the outlook for the Delhi-NCR real estate market in the coming years?
The outlook for the Delhi-NCR real estate market is positive, with continued growth expected. Developers are focusing on creating quality-driven launches that align with the increasing demand for premium and luxury offerings, driven by rising lifestyle aspirations.
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