Delhi NCR Records Sharpest Rise in Home Prices, Overtaking Mumbai, Bengaluru and Pune

Map and buildings representing Delhi NCR showcasing a steep increase in home prices compared to Mumbai, Bengaluru, and Pune.

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Delhi NCR Records Sharpest Rise in Home Prices, Overtaking Mumbai, Bengaluru and Pune

India’s real estate market has undergone a major transformation over the past three years — and new ANAROCK data shows a clear winner.
Delhi NCR has emerged as the fastest-appreciating housing market across all budget segments, ahead of Mumbai, Bengaluru and Pune.

The nationwide shift toward premium living spaces has driven prices across cities higher, but NCR has surged far beyond the national trend, especially in the luxury segment.

Luxury Homes Drive the Largest Spike

Luxury properties priced above ₹1.5 crore have shown the strongest price momentum.
Across India’s top seven markets, luxury homes rose 40% between 2022 and 2025, from ₹14,530 to nearly ₹20,300 per sq ft.

But NCR has outperformed every major city, registering a remarkable 72% growth — from ₹13,450 per sq ft in 2022 to approximately ₹23,100 per sq ft today.

For comparison:

CityLuxury Price Rise (2022–2025)
Delhi NCR72%
Mumbai Metropolitan Region (MMR)43%
Bengaluru42%
Hyderabad41%
Pune29%

Despite NCR’s sharp surge, MMR remains the costliest luxury market, now averaging ₹40,200 per sq ft.

Mid-Range Housing Remains Strong

Properties priced ₹40 lakh – ₹1.5 crore have shown continued momentum across metros.
Average prices in this segment rose 39% nationally between 2022 and 2025.

Once again, NCR led with a 54% rise, followed by Bengaluru’s significant 62% growth, reflecting stronger buyer preference for spacious and well-designed homes post-pandemic.

Affordable Housing Lagging Nationwide – Except NCR

Affordable homes priced below ₹40 lakh witnessed the slowest appreciation, rising only 26% across top cities.

But NCR stood apart again — recording a 48% rise in affordable segment pricing, the highest nationwide.

Despite this rise, NCR’s affordable segment remains slightly cheaper than Hyderabad, which holds the highest price point in this category.

Why NCR Is India’s Strongest Property Market

ANAROCK attributes NCR’s stellar performance to:

✔ improving infrastructure
✔ new premium housing launches
✔ strong interest from NRIs and investors
✔ rising demand among high-income buyers
✔ brand-backed luxury projects

According to Anuj Puri, Chairman of ANAROCK Group, the luxury market remains extremely resilient. Nearly 30% of the 2.87 lakh homes sold in the top seven cities between Jan–Sept 2025 belonged to the luxury segment, underscoring how high-quantity demand is reshaping project strategies.

City-Wise Average Home Prices (2025)

CityLuxuryMid-RangeAffordable
MMR₹40,200₹16,400₹6,450
NCR₹23,100₹9,750₹5,200
Chennai₹18,500₹7,450₹4,865
Bengaluru₹16,700₹9,140₹5,450
Pune₹15,200₹8,850₹5,850
Hyderabad₹14,200₹8,420₹5,235
Kolkata₹14,200₹6,750₹4,040

The widening gap between affordable and luxury housing suggests a larger economic trend — developers are prioritizing mid-range and high-end launches due to better margins and higher consumer demand.

The Bottom Line

Delhi NCR’s across-the-board price appreciation highlights how rapidly the region has transformed.
From infrastructure upgrades to increased premium housing supply, NCR has claimed the title of India’s strongest real-estate market — across luxury, mid-range and affordable categories.