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Delhi-NCR real estate market witnessed the launch of 10,245 new housing units in Q3 2025, marking a 12% increase from the previous quarter, though 37% lower than the same period last year. Gurugram emerged as the preferred destination for luxury housing, accounting for 87% of luxury launches in the region during the quarter, according to Cushman & Wakefield’s Market Beat Delhi-NCR Residential Q3 2025 report.
The weighted average launch price in the quarter stood at around Rs. 15,175 per square foot, showing a 30% quarter-on-quarter rise, while being 3% lower on a year-on-year basis, the report noted.
High-end residential submarkets in NCR saw annual capital appreciation of 5-6%. Gurugram and Noida recorded the strongest growth, with prices increasing 12% and 10% year-on-year, respectively. Rental values showed moderate growth, rising 1-2% quarter-on-quarter and 4-6% year-on-year. Gurugram’s luxury segment recorded the highest rental growth, with values up 10% compared to the previous year.
New Gurgaon and Dwarka Expressway emerged as the most active submarkets, contributing 23% and 20% of launches, respectively, while Greater Noida accounted for 14%, the report said.
Residential unit launches across the NCR in the first nine months of 2025 were 10% lower than the corresponding period last year, the report added.
Improved connectivity to IGI Airport, expanding social infrastructure, relative affordability compared to central Gurgaon, and strong return prospects are driving activity in New Gurgaon and Dwarka Expressway, Cushman & Wakefield said.
Gurugram continued to dominate the luxury housing market, contributing 87% of luxury launches during the quarter, according to the report.
Meanwhile, Gautam Buddha Nagar, which includes Noida, Greater Noida, and Yamuna Expressway, gained momentum with 10,242 launches during the first nine months of 2025—a 54% year-on-year increase—supported by robust infrastructure development, competitive pricing, and growth prospects around Noida International Airport.
In terms of market segment, mid-end housing drove supply in Q3, accounting for 51% of new launches, followed by high-end projects at 26% and luxury projects at 22%. Luxury launches during the quarter fell 30% compared to last year, the report noted.
The weighted average launch price in Q3 2025 stood at approximately Rs. 15,175 per sq ft, reflecting a 30% quarter-on-quarter increase, although it was 3% lower year-on-year. High-end residential submarkets in NCR recorded annual capital appreciation of 5-6%.
Gurugram and Noida led the growth with prices rising 12% and 10% year-on-year, respectively. Rental values saw modest gains, up 1-2% quarter-on-quarter and 4-6% year-on-year. Gurugram’s luxury segment saw the strongest rental growth at 10% year-on-year, Cushman & Wakefield added.
