Delhi NCR’s residential market closed 2025 on a strong footing, driven largely by infrastructure upgrades, expanding connectivity, and a clear shift toward peripheral growth corridors, according to the Cushman & Wakefield report. The final quarter of the year underlined this momentum, with fresh housing supply responding quickly to improving demand conditions.
In Q4 2025 alone, the region recorded 14,248 new residential unit launches, a sharp 39 percent jump over the previous quarter and nearly two-and-a-half times higher than the same period last year. Gurugram emerged as the biggest contributor, accounting for half of all launches during the quarter. Noida followed with a 29 percent share, while Ghaziabad contributed 16 percent, reflecting a broad-based revival across NCR sub-markets.
On an annual basis, developers launched a total of 41,358 units in 2025, marking a 21 percent year-on-year increase. What stands out is where this supply is coming from. Instead of saturated central pockets, most launches were concentrated in emerging and peripheral locations. Dwarka Expressway alone accounted for 27 percent of the year’s supply, followed by New Gurgaon at 11 percent and the Yamuna Expressway at 8 percent.
Improved connectivity has been a decisive factor behind this shift. Seamless access to the IGI Airport, faster road networks, and better last-mile links have significantly boosted the appeal of New Gurgaon and Dwarka Expressway. These locations also offer relatively more affordable pricing compared to central Gurgaon, along with stronger long-term return potential. In Noida and Greater Noida, momentum has been driven by large-scale infrastructure investments, competitive pricing, and the growth expectations surrounding the upcoming Noida International Airport.
The composition of new supply also reveals changing buyer preferences. The mid-segment clearly dominated residential launches in Q4, accounting for 51 percent of all new units. High-end housing followed with a 27 percent share, while luxury homes made up the remaining 24 percent. This trend was consistent throughout the year, with the mid-segment commanding a 52 percent share of total launches in 2025.
In absolute terms, mid-segment launches more than doubled, rising 105 percent compared to the previous year. A marginal reduction in home loan rates, coupled with fresh supply in emerging sub-markets, played a key role in supporting this surge. Luxury housing remained stable, with about 9,000 units launched during the year, similar to last year’s levels. However, high-end launches declined by around 10 percent year-on-year, suggesting a more cautious approach by developers in this category.
Price trends during the year reflected the dominance of mid-segment supply. The weighted average launch price in Q4 2025 stood at around Rs. 15,600 per square foot, showing a modest 3 percent quarter-on-quarter increase. However, this figure was significantly lower on a year-on-year basis due to the higher proportion of mid-segment projects. For the full year, the weighted average launch price was approximately Rs. 15,000 per square foot, a 7 percent decline compared to 2024.
Despite this moderation at the aggregate level, select high-end residential pockets in NCR recorded healthy capital appreciation of 4 to 6 percent over the year. Noida and Gurugram outperformed the broader market, with prices rising by 10 percent and 9 percent respectively, highlighting the impact of infrastructure-led demand in these areas.
Rental values also showed steady, though moderate, growth. Across NCR, rents increased by 1 to 2 percent quarter-on-quarter and by 3 to 4 percent over the year. Gurugram’s luxury segment stood out, recording a sharp 10 percent rise in rental values, supported by sustained corporate demand and limited premium supply.
The year 2025 reinforced the view that infrastructure development is reshaping NCR’s residential landscape. With improving connectivity, expanding employment hubs, and a strong mid-segment focus, the region appears well-positioned for measured, sustainable growth.
