The Delhi-NCR residential market saw 10,245 new housing unit launches in the third quarter of 2025, a 12% rise over the previous quarter, according to Cushman & Wakefield’s latest MarketBeat report, published by Hindustan Times. However, this was 37% lower than the same quarter last year.
Gurugram continued to dominate the region’s real estate landscape, contributing 87% of the luxury segment’s new launches during the quarter. The city also led rental growth in the luxury housing category, with values rising 10% year-over-year.
The average launch price across the region stood at ₹15,175 per square foot—30% higher than the previous quarter but still 3% lower than the third quarter of 2024. High-end residential submarkets in the National Capital Region posted annual capital appreciation of 5% to 6%, the report noted.
Price growth was most notable in Gurugram and Noida, which saw year-over-year increases of 12% and 10%, respectively. Rental values improved modestly across the region, rising by 1% to 2% quarter-over-quarter and 4% to 6% on a yearly basis.
Submarkets such as New Gurgaon and the Dwarka Expressway emerged as top contributors, accounting for 23% and 20% of new launches, respectively. Greater Noida added another 14% of the quarter’s total housing supply.
The report attributed the residential growth in New Gurgaon and Dwarka Expressway to improved connectivity to the Indira Gandhi International Airport, enhanced social infrastructure, better affordability compared to central Gurugram, and favorable return prospects.
Despite the quarterly uptick, cumulative housing launches in NCR during the first nine months of 2025 were down 10% compared to the same period last year.
Meanwhile, Gautam Buddha Nagar—which includes Noida, Greater Noida, and the Yamuna Expressway—saw a sharp increase in residential activity, with 10,242 unit launches between January and September. This represents a 54% year-over-year rise, supported by ongoing infrastructure development, competitive pricing, and expectations surrounding the upcoming Noida International Airport.
In terms of housing segments, the mid-end category drove most of the supply during Q3, comprising 51% of total launches. High-end projects made up 26%, while luxury developments accounted for 22%. However, the number of luxury launches declined 30% compared to the same quarter in 2024.
Although overall price and rental growth remained modest, the report highlighted Gurugram’s luxury segment as the strongest performer in both price and rental value increases.