Gurugram on the Rise: NCR's Luxury Hub Defies National Slowdown with Soaring Property Prices

Gurugram’s luxury housing market is on an unprecedented rise, defying a broader national slowdown and emerging as Delhi-NCR’s most resilient and dynamic real estate zone. Once considered a satellite city of Delhi, Gurugram has now positioned itself as a primary residential and commercial hub—especially in the premium and ultra-luxury segments—thanks to robust infrastructure growth, record-setting launches, and unwavering buyer demand.

A striking example of this surge is the steep appreciation seen in marquee projects like Trump Tower Gurugram, launched at Rs. 13,500 per sq. ft., now trading at a staggering Rs. 40,000 per sq. ft.

The tripling in value reflects not just the growing aspiration for branded homes, but also the growing belief that Gurugram is the beating heart of NCR’s luxury housing narrative.

According to PropEquity’s latest report (Q2 2025), housing sales across India’s top nine cities fell below the one lakh unit mark for the first time in 14 quarters. While major cities like Mumbai and Thane saw a steep decline in both sales and supply, Delhi-NCR emerged as the strongest performing market, registering a 16 percent year-on-year increase in sales, alongside a 37 percent jump in new supply.

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What stands out in this data is the diverging trend NCR is witnessing compared to other metro markets. While supply contracted in six of the top nine cities, developers in NCR—particularly in Gurgaon’s growth corridors like SPR—continued to launch premium and luxury projects, many of which sold out in record time.

This divergence is deeply visible in Gurugram’s key growth corridors—be it Golf Course Road, Golf Course Extension, or the rapidly emerging Southern Peripheral Road (SPR). These zones are witnessing a burst of new launches and record sell-outs. Projects like DLF’s Privana North, Trump Residences Gurgaon by Tribeca, Whiteland’s The Aspen, and Smartworld One DXP have seen near-instant absorption, often within hours or days of launch.

Over the past year, the region has seen a flurry of premium launches including Trump Residences Gurgaon by Tribeca, Whiteland’s The Aspen, Smartworld One DXP, and DLF’s Privana North. Most of these projects witnessed exceptional response. For instance, Privana North sold out within days of its soft launch, and Trump Residences sold out in under five hours, signaling unshakable demand for luxury and branded residences on SPR.

Reflecting on this shift, Rajat Khandelwal, Group CEO, Tribeca Developers, says: “Homebuyers are clearly showing a strong preference for newly launched projects. Even in NCR, which was once dominated by ready-to-move-in apartments, 44% of sales came from new inventory. This shift reassures us that homebuyers value thoughtful design, transparency, and reliable delivery.”

He adds, “At Tribeca, we launched three projects across Mumbai and Gurgaon this quarter—and saw exceptional response, with Trump Residences Gurgaon selling out in under five hours. For quality developments in the right locations, buyer conviction continues to be very high.”

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This buyer conviction is backed by the structural growth Gurugram continues to offer. Its integration with major expressways like NH-48, Dwarka Expressway, and the cloverleaf interchanges ensures unmatched connectivity to Delhi and IGI Airport. The city’s proximity to global business parks, international schools, upscale malls, and upcoming infrastructure like the Global City project, further enhances its appeal for both investors and end users.

What’s unique about Gurugram’s ongoing boom is that it comes at a time when the national market is showing signs of cooling. The same PropEquity report shows a 19 percent YoY drop in national housing sales, and a 30 percent dip in new launches—yet Gurugram continues to scale up with new projects in the Rs. 3–10 crore bracket.

This confidence is not unfounded. Developers believe that Gurugram’s luxury market has matured to a point where branded residences, lifestyle-driven living, and premium gated townships are no longer niche—they’re mainstream. Repeat buyers, HNIs, and upwardly mobile professionals are all converging here, not just for the prestige but for the quality of life that these new-age communities promise.

Industry insiders believe that the price appreciation on SPR is far from peaking. With the completion of Dwarka Expressway expected to ease commute times further and the upcoming Global City development nearby, the corridor is likely to become Gurgaon’s most valuable stretch over the next 3–5 years.

Meanwhile, developers are preparing for the next wave of launches in the Rs. 3–10 crore bracket, confident that the appetite for quality remains strong. The premiumisation of SPR is also catalyzing price hikes in nearby micro-markets, setting off a ripple effect that’s pushing Gurgaon’s urban sprawl in a new, more luxurious direction.

From a peripheral promise to a luxury powerhouse, SPR's evolution is a case study in urban transformation. While India’s real estate market moderates overall, SPR continues to ride a wave of robust buyer demand, bold developer action, and record-breaking price jumps, cementing its status as the new face of Gurgaon’s high-end residential realty.