The skyline of the National Capital Region (NCR) is undergoing a profound transformation. For years, the luxury housing market was confined to a few established, high-end corridors but today, a new breed of discerning homebuyers and investors is looking beyond the familiar and turning their attention to developing pockets that are evolving into the region’s coveted addresses.
Market observers say this paradigm shift is being driven by a combination of two factors: the promise of an elevated, luxurious lifestyle and the potential for long-term returns.
The numbers tell a story of this change. According to a CBRE-ASSOCHAM report, India's luxury housing segment witnessed an 85 percent year-on-year growth in the first half of 2025, with nearly 7,000 high-end residential units sold across top cities.
Delhi-NCR led this surge, clocking sales of approximately 4,000 luxury units (a threefold annualised increase), accounting for 57 percent to the total luxury segment.
Another report by real estate consultancy firm JLL showed a 9 percent jump in sales for luxury homes priced Rs 5 crore and above in Delhi-NCR in the first six months of 2025, with 5,168 units sold, or 65 percent of all luxury housing sales nationwide. This surge reflects a deeper aspiration for quality living, prioritising spaciousness, privacy and world-class amenities among the affluent, young professionals and expatriate Indians.
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Emerging hubs like Dwarka Expressway, Southern Peripheral Road (SPR) and Golf Course Extension in satellite township Gurugram, and in Delhi-abutting areas in Uttar Pradesh like with Sector-150 in Noida, Noida-Greater Noida Expressway belt and Siddharth Vihar in Ghaziabad along the Delhi-Meerut Expressway, are becoming luxury investment magnets. These areas, once peripheral, are now central to rapid infrastructure development, with new expressways, metro lines and planned urban ecosystems.
Manoj Gaur, chairman and managing director of NCR-focused developer Gaurs Group, said that the luxury real estate surge in the market is reshaping its map of desirability. New highly sought-after residential hubs have sprung up all across NCR, but their dominance is more pronounced in Gurugram and Noida, which are attracting both investors and end users. Gurugram has the first-mover advantage and remains a luxury heavyweight, but Noida is catching up.
The appeal is not just lifestyle—substantial capital appreciation and strong rental yields are equally influential in the investment decisions. He said that these are particularly fuelled by massive infrastructure developments such as the Noida International Airport, a network of expressways, expanding corporate presence and a shift in buyer aspirations toward an integrated and aspirational lifestyle. These factors are not only creating vibrant lifestyle destinations but also driving strong capital appreciation and rental yields.
“The Noida Expressway is a prime example. Once a mere connector, it has evolved into a high-return luxury corridor where expansive green spaces, destination-grade leisure facilities and smart home technology together redefine the benchmark for modern urban living,” he said.
According to market data, Noida and Greater Noida property values surged over 92 percent in five years, with Greater Noida alone seeing a 98 percent price hike. Dwarka Expressway properties boast a staggering 153 percent price appreciation in five years.
The market rents are also rising steeply: Golf Course Extension Road in Gurugram saw 19 percent growth in the first half of 2024 over the previous year, Dwarka Expressway 28 percent and Noida-Greater Noida Expressway 11 percent. Indirapuram in Ghaziabad witnessed 73 percent property price growth between FY21 and FY25.
Yukti Nagpal, director with the Noida-based Gulshan Group, said that the Noida–Greater Noida belt has rapidly evolved into a focal point for luxury real estate investments, driven by meticulous urban planning and robust infrastructure.
“Key corridors like the Noida-Greater Noida Expressway and the upcoming FNG (Faridabad-Noida-Gurugram) Expressway are not only enhancing connectivity but also amplifying investor confidence. What we’re witnessing is the rise of a new luxury mindset—one that seeks both elevated living and long-term value creation. The sectors lining the expressway are now prime ground for this transformation, offering a unique convergence of aspiration and asset growth,” she said
Gautam Kanodia, founder of the Kanodia Group and its luxury housing arm KREEVA, said that the Gurugram market keeps breaking its growth numbers, remaining the preferred luxury destination. Gurugram contributed a massive 91 percent of all NCR luxury home sales in the first half of 2025.
“Its appeal stems from a robust corporate ecosystem and superior infrastructure. New markets like New Gurugram, SPR, Dwarka Expressway are driving the luxury momentum, offering modern amenities, community living and future capital appreciation. SPR saw 125 percent price appreciation in five years. Dwarka Expressway's capital values also increased significantly due to seamless connectivity,” he said.
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