Almost 5,400 high-end apartments sold in Q1 2025

• All the high-end housing units sold during the quarter were in under-construction projects, indicating strong buyer confidence in such projects. 85% of the total homes sold were in Gurgaon, with more than half of those units located in the Dwarka Expressway submarket.
• During the quarter, Noida contributed 14% to the overall high-end sales. The Greater Noida submarket was the best-performing submarket in terms of luxury home sales in Noida.

Approximately 6,300 high-end apartments launched in Delhi NCR in the quarter

• All high-end launches during the quarter were in Gurgaon. Notably, 40% of the new launches were priced at INR 5 crore and above. The Dwarka Expressway submarket led the high-end housing launches, accounting for a dominant 64% share of the total launches in the quarter.
• The Golf Course Road submarket saw the launch of a couple of projects, but with a limited number of units. Other submarkets like New Gurgaon, Golf Course Extension Road, Sohna Road and NH-8 also saw new project launches by prominent developers.

Overall capital values up by 1.5% q-o-q

• Gurgaon saw the highest quarterly price increase, with capital values rising by 2%. This was followed by Noida, where capital values increased by 1% compared to the previous quarter.
• No quarterly price change was recorded in Delhi and Faridabad. On average, rents for high-end homes in Delhi NCR were up by 0.7% compared to the previous quarter.

Outlook: High-end housing sales to remain healthy

• Prominent developers are expected to continue launching high-end housing projects, mainly in Gurgaon and Noida. Developers in both cities have acquired strategic land parcels over the past couple of months, so the supply is expected to remain strong.
• Delhi NCR is expected to remain the leader in high-end housing demand among all Indian cities. Capital values and rents for high-end homes are likely to rise in the short to medium term.