Delhi-NCR's Luxury Real Estate Market Booms with High-Value Deals
The luxury real estate market in Delhi-NCR is witnessing a surge in high-value transactions, with prominent individuals like cricketer Shikhar Dhawan and skincare brand founder Vineet Kapur making significant investments.
Luxury Real EstateHighnetworth IndividualsDelhincrReal Estate TransactionsRetail Real EstateReal EstateMay 20, 2025
According to property registration documents reviewed by real estate data analytics firm CRE Matrix, cricketer Shikhar Dhawan has purchased a premium apartment in DLF’s The Camellias – The Dahlias, Gurugram, for ₹65.61 crore. Spanning 6,040 sq ft and including five parking spaces, the property was registered on February 4, 2025. Located on Golf Course Road, the project is renowned for its world-class amenities and a roster of prominent residents.
In another significant transaction, Vineet Kapur, founder of skincare brand O3+, and his wife Sonia Kapur have acquired a bungalow in Delhi’s upscale Vasant Vihar for ₹72 crore. The 6,160 sq ft property was registered on April 3, 2025, according to documents seen by CRE Matrix.
These purchases form part of a broader trend, not just in Delhi-NCR, but nationwide, where the luxury segment continues to outperform the wider market. Buyers are favoring exclusive, asset-rich homes in well-established neighborhoods, reinforcing the strength of high-end real estate in the region.
India’s retail real estate sector is on course for a record-breaking boom, with 16.6 million sq. ft. of Grade A mall space expected to be added across the top seven cities by the end of 2026, according to research by ANAROCK. Hyderabad and Delhi-NCR will account for nearly two-thirds of this expansion, reflecting their growing status as retail hotspots.
The surge comes after three years of supply lagging behind leasing demand. In 2024, for example, just 1.1 million sq. ft. of new space was delivered, while 6.5 million sq. ft. was leased. Now, developers are racing to meet the demand, driven by higher incomes, urbanization, and the entry of over 60 global brands since 2021.
Vacancy rates are expected to stabilize at around 8% through 2026, down from pandemic highs, while interest is growing in Tier 2 and 3 cities. Analysts believe strong fundamentals will help avoid oversupply, as quality and experience take center stage.
Frequently Asked Questions
What is driving the surge in luxury real estate transactions in Delhi-NCR?
The surge is driven by strong demand among affluent buyers for premium addresses, higher incomes, urbanization, and the entry of global brands.
Who are some notable individuals making significant investments in Delhi-NCR's luxury real estate?
Notable individuals include cricketer Shikhar Dhawan and skincare brand founder Vineet Kapur.
What is the expected growth in Grade A mall space in India by 2026?
India is expected to add 16.6 million sq. ft. of Grade A mall space across the top seven cities by 2026.
Which cities are leading the retail real estate expansion in India?
Hyderabad and Delhi-NCR are leading the expansion, accounting for nearly two-thirds of the new retail space.
What are the expected trends in vacancy rates for retail real estate in the coming years?
Vacancy rates are expected to stabilize at around 8% through 2026, down from pandemic highs.
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