Despite a wider slowdown in residential real estate sales across Indian cities, luxury housing priced at ₹5 crore and above has emerged as a clear outlier, with Delhi NCR leading the pack. According to the latest analysis by real estate consultancy firm JLL India, 5,168 luxury homes were sold across the top seven cities in the first half of 2025 (H1 2025), and Delhi NCR alone contributed to 65% of these transactions. This represents a 9% year-on-year growth in luxury housing sales for Delhi NCR, with 4,763 units sold in H1 2024, and a jump from 2,287 units in H1 2023. Luxury housing now makes up 27% of all residential sales in the region — up from 19% last year and just 12% in 2023.

Developers remain confident about Delhi NCR’s vast market expanse to absorb such products, particularly because of the upcoming festive season and tamed inflationary scenario in the country at large. In fact, prominent real estate developers with a strong foothold in Delhi NCR are finally venturing beyond the home turf to take exposure in markets like Mumbai. Despite a significant annual dip of 23% in Delhi NCR’s overall sales across ticket sizes, the luxury segment remained unaffected. The share of luxury sales to the overall sales has also swelled to 27% in H1 2025, as compared to 19% and 12% in H1 2024 and H1 2023 respectively” said Dr. Samantak Das, Chief Economist and Head of Research & REIS, India, JLL.

The engine powering this boom? Gurugram, which accounted for a whopping 91% of Delhi NCR’s luxury housing transactions. The city’s rapid transformation into a premium real estate hub, combined with its evolving infrastructure, is attracting high-net-worth buyers seeking resort-style living and cutting-edge amenities. “The Southern Peripheral Road (SPR) and Dwarka Expressway are the two standout micro-markets, together contributing 61% of luxury sales in Delhi NCR during H1 2025,” said Manish Aggarwal, Senior Managing Director (North & East), JLL India.

Infrastructure: The Game Changer

The boom is not accidental. The completion of the Dwarka Expressway, and planned metro lines in Gurugram, have elevated the region’s status as a livable, investable destination. As transport connectivity and civic infrastructure improve, the price and desirability of luxury properties continue to climb. Other premium zones like Golf Course Road, Golf Course Extension, NH-8, and Sohna Road also contributed to the luxury sales mix, albeit in smaller shares ranging from 7% to 10%. Golf Course Road, while established as a luxury hotbed, now sees limited availability in new launches.

Affluent Buyers, Aspiration, and Lifestyle According to Dr. Samantak Das, Chief Economist and Head of Research & REIS, JLL India, demand has been driven by rising disposable incomes, aspirational lifestyle shifts, and an increasing preference for larger homes with modern amenities.