News: Realty cos from other cities flock to NCR on rising demand, prices-03-11-2025
New Delhi: The National Capital Region (NCR) is slowly emerging as a hub for developers based in Mumbai and Bengaluru, with price appreciation in the market outpacing other regions, experts said.
While Mumbai's Oberoi Realty is expected to launch its first project in Gurugram this fiscal year, Lodha and Rustomjee are also exploring land acquisitions in the region, according to people with direct knowledge of the development.
Bengaluru's Prestige Group and Sobha, which were among the early entrants, have now accelerated their expansion, with NCR becoming their fastest-growing market.
Godrej Properties and Tata Realty, both based in Mumbai, are also strengthening their presence in the NCR. New players such as Dalcore are choosing Gurugram to launch their real estate ventures.
"Delhi-NCR continues to attract developers from across India, underpinned by robust end-user demand, investor confidence and rapidly evolving infrastructure. The region's connectivity upgrades, particularly around the Dwarka and Noida Expressways and the upcoming Noida International Airport, are transforming its residential corridors and unlocking new micro-markets," said Shalin Raina, managing director, Residential Services, at real estate consultancy Cushman & Wakefield.
Around 50,000-60,000 housing units are launched in the NCR every year, with the total value exceeding Rs.1 lakh crore.
Luxury housing has been a major growth driver, with Gurugram accounting for nearly 87% of NCR's luxury launches in the quarter ended September 30. Price appreciation in premium segments, averaging 10-12% annually reflects strong absorption and long-term value potential. "This, combined with competitive pricing, improved liveability, and a deep buyer pool including NRIs and investors, continues to make Delhi-NCR one of India's most attractive real estate markets," Raina said.
According to real estate services company Anarock, top Indian cities recorded 3% increase in new housing supply in the last quarter, with the launch of 96,690 units vs 93,750 units a year earlier. City-wise, Mumbai Metropolitan Region topped new supplies with 29,565 units launched during the quarter, followed by Pune with 19,375 units.
At 24%, residential prices in the NCR grew the fastest among the top seven Indian cities in the quarter, followed by Bengaluru at 10%. The average growth for the top cities was 9%.
"For years, the NCR real estate market lacked the quality and professionalism seen elsewhere. The entry and expansion of top developers is set to transform the landscape," said Rahul Purohit, cofounder of real estate services platform Square Yards.
