Synopsis– Average property prices for Delhi-NCR region jumped 24% from ₹7,200 in Q3 2024 to ₹8,900 per sq. ft. in Q3 2025.
No other metropolitan areas in India matched NCR’s transformations and price growth in the July to September period in the housing market. While the average price reached ₹9105 sq/ft in Q3,2025 up from ₹8390 sq/ft in Q3,2024 , price metrics indicated a national average upward movement of 9% YoY.
Delhi-NCR Segment Jumps 24% in Q3 2025
- Price Growth: Average Residential Prices moved from ₹7,200/sq.ft (Q3 2024) to ₹8,900/sq.ft (Q3 2025) on a 12 month perspective, indicating a growth of 24%.
- Quarterly: Annualized average prices also saw growth rates compare quarterly (Q2 to Q3 2025) by 3% imply persistent momentum in the sales and rental market, notwithstanding tighter supply and high interest rates.
- National Context: Median National price metrics indicate a price average of ₹9,105/sq.ft which is a year on year price variance of 9%.
- Other Notable Cities have displayed statistically significant year on year price variances; namely Bengaluru (10%) Hyderabad (8%), and Chennai (5%).
Reasons for NCR’s Price Surge:
1. The Shifts in Lifestyle Choices: HNWIs and UHNWIs are investing in the premium segment in top cities and Delhi-NCR is one of their top priorities.
2. Strong Demand from Professionals and Corporates: Gurugram and Noida have seen continued absorption of IT professionals, corporate employees, and entrepreneur and also advanced GCCs are resulting in steady demand for homes in the mid-to-premium segments.
3. Increase in Household Income and Stability: Household income has increased more than inflation rates, and dual-income families have provided stability to household income, which has ideally tempered the increase in EMIs.
4. Investments in Infrastructure and Urban Developments: Infrastructure developments like Dwarka Expressway & Delhi-Mumbai Expressway, Delhi-Ghaziabad-Meerut RRTS corridor and metro expansion are attracting more and more investors.
5. Market Dynamics and Buyer Preferences: According to developers and consultants, buyer behavior has experienced a “structural shift” as it relates to buyers’ interests, such as aspiration, stability, and contemporary features.
Comparative Context: Other Key Markets
- Mumbai Metropolitan Region (MMR): Mumbai still continues to maintain its position as India’s most expensive residential property market at an average price of ₹17,230/sq.ft (6% YoY).
- Bengaluru: 10% increase YoY; core growth areas are Whitefield, Sarjapur, and Northern Bengaluru.
- Hyderabad & Chennai: Moderate price growth between 5% and 8% driven by IT zone and premium developments.
- Pune & Kolkata: Similar price growth of 4–6%, mainly driven by demand clustered in tech and infrastructure locations.
Implications for Investors
- Long-Term Demand Growth: The inertia of the Delhi-NCR market through fluctuations make it the market of choice for investors looking for stability and appreciation of their investment.
- Strength of the Mid-to-Premium Market: Property priced in the desirable neighborhoods and new townships provide the most pronounced growth and lifestyle benefits.
- Understanding the New Benchmark: The NCR’s performance means that a new benchmark can be established for what is achievable within the residential property market in India.
Data shows the change in basic selling price (BSP) on the built-up area (BUA) for major Indian cities between Q3 2024 and Q3 2025:
| Cities Name | Q3-2025 (INR/sq. ft.) | Q2-2025 (INR/sq. ft.) | %Change (Q2-2025 Vs Q3-2025) | Q3-2024 (INR/sq. ft.) | %Change (Q3-2024 Vs Q3-2025) |
| NCR | 8,900 | 8,650 | 3% | 7,200 | 24% |
| MMR | 17,230 | 17,100 | 1% | 16,300 | 6% |
| Bangalore | 8,870 | 8,720 | 2% | 8,100 | 10% |
| Pune | 7,935 | 7,875 | 1% | 7,600 | 4% |
| Hyderabad | 7,750 | 7,645 | 1% | 7,150 | 8% |
| Chennai | 7,010 | 6,950 | 1% | 6,680 | 5% |
| Kolkata | 6,060 | 6,000 | 1% | 5,700 | 6% |
| Total | 9,105 | 8,990 | 1% | 8,390 | 9% |
Source: ANAROCK Research & Advisory
Data indicates a significant departure in price movement across major Indian cities between Q3 2024 and Q3 2025. The National Capital Region (NCR) outperformed all markets, appreciating about 24% year-on-year from an average price of ₹7,200 per sq. ft. to ₹8,900 per sq. ft. to significantly outperform all other metro markets for instance, the Mumbai Metropolitan Region (MMR) and Bangalore increased at rates of 6% and 10% respectively. On a quarterly basis (Q2 2025 vs Q3 2025), NCR also exhibited the most momentum, with a 3% quarter-on-quarter growth, which is roughly three times the average quarterly growth experienced across most other cities. Such continued growth demonstrates both strong demand and a structural upward trend in the NCR residential market.
Also read: Top 7 Commercial Hotspots in India Promising High Rental Yields in 2025
Major Projects Driving Delhi-NCR’s Price Boom
| Project | Key Location(s) | Price Impact | Note |
| Dwarka Expressway | Gurugram, Dwarka | Up to 58% appreciation | Q3 launches: 20% share |
| Noida International Airport (Jewar) | Greater Noida, Yamuna Expwy | Strong growth macro markets | Mega infrastructure driver |
| Gurugram Metro Expansion | Gurugram | Premium launches, absorption | Enhanced connectivity |
| Delhi-Mumbai Industrial Corridor | Greater Noida, Gurgaon | Demand for residential/commercial | Large scale industrial hub |
| Rapid Rail, Aqua Line Extension | Noida, Gr. Noida | Open new high-value zones | Faster transit, better ROI |
Conclusion
The substantial price increase of 24% in the Delhi-NCR residential market in Q3 2025 is monumental evidence of the emergence of the region as the leading real estate market in the country. The culmination of developments, and changing attitudes has created a new baseline for success related to real estate: the Delhi-NCR real estate market is exceeding national pricing averages, outpacing every other major city, and setting new standards in holistic sustainable lifestyle, potential investment, and an era of greater urban renewal.
Written By Rachna Rajput
