NCR Property Prices Surge: Leading Growth Among Top Indian Cities in Q3 2025
The NCR region witnessed a significant 19% year-on-year increase in residential property prices, outpacing other major Indian cities, according to a report by Knight Frank India. The report also highlights robust demand from end-users and a stable economic environment.
Ncr Property PricesReal Estate TrendsLuxury PropertiesResidential MarketOffice MarketReal Estate PuneOct 13, 2025
The report, Q3 2025 – Residential and Office (July-September 2025), indicates a robust and maturing market in the Delhi NCR. The report analyses real estate market trends across 8 cities like Mumbai, Bengaluru, NCR, Pune, Hyderabad, Ahmedabad, Chennai, and Kolkata.
The residential market was the star performer in terms of price growth during the third quarter of 2025. Driven by stable economic conditions, reduced inventory risk, and strong end-user demand, average residential prices in the region surged by 19% YoY, marking the highest increase among the top Indian cities, the property consultancy firm said.
This robust growth, the report said, reflects the sustained high demand for premium and luxury properties, particularly in established micro-markets across Gurugram and Noida.
The office space demand is supported by India-facing businesses and flex workspace operators, the report said. While the residential segment dominated headlines by registering the highest annual price appreciation in India, the commercial office market continued its resilient performance, driven by strong occupier fundamentals, the consultancy said.
The trend of premiumisation continues to reshape the market, with homebuyers demonstrating a strong preference for larger homes, better amenities, and ready-to-move-in or near-completion inventory, the report said. While overall sales volume saw stabilisation after previous high-growth phases, the underlying sales value of transactions continued to climb, reinforcing buyer confidence and developer focus on high-ticket launches, it added.
Mudassir Zaidi, Executive Director – North, Knight Frank India, commented on the market performance, “The NCR real estate story in Q3 2025 is clearly one of two robust but distinct markets. On the residential front, the staggering 19% YoY price appreciation is a clear indicator that the region’s luxury and premium segments are firing on all cylinders. This growth is healthy, not speculative, as it is backed by genuine end-user confidence and a diminishing supply of quality inventory. The high-value segment continues to lead the way, affirming NCR’s status as a high-growth residential investment destination in India.”
The NCR office market showcased resilient stability in Q3 2025. While overall pan-India leasing volumes saw a marginal softening compared to the exceptional performance in Q3 2024, NCR continued to attract steady demand, according to the report. Gross leasing was primarily fueled by sustained space take-up from Global Capability Centres (GCCs) and domestic corporate expansion plans across BFSI and consulting sectors, it said.
Frequently Asked Questions
What is the main reason for the surge in NCR property prices?
The main reasons for the surge in NCR property prices include robust demand from end-users, stable economic conditions, reduced inventory risk, and a strong preference for premium and luxury properties.
Which cities are included in the Knight Frank India report?
The report includes real estate market trends across 8 cities: Mumbai, Bengaluru, NCR, Pune, Hyderabad, Ahmedabad, Chennai, and Kolkata.
How did the office market perform in Q3 2025?
The office market in NCR showcased resilient stability in Q3 2025, with a healthy 9% YoY rise in rentals, driven by strong occupier fundamentals and demand from Global Capability Centres (GCCs) and domestic corporate expansion plans.
What is the trend of premiumisation in the NCR residential market?
The trend of premiumisation in the NCR residential market is characterized by homebuyers showing a strong preference for larger homes, better amenities, and ready-to-move-in or near-completion inventory.
Who is Mudassir Zaidi, and what is his role in Knight Frank India?
Mudassir Zaidi is the Executive Director – North at Knight Frank India. He provided insights on the NCR real estate market, highlighting the robust performance of both the residential and office sectors.
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