Once a satellite city, Gurugram has now become the epicentre of India’s luxury housing boom. In 2025, it toppled Mumbai for the second year in a row, clocking Rs 24,120 crore in sales of ultra-premium homes — the clearest signal yet of how new wealth and infrastructure are redrawing the country’s real estate map.
According to the latest report by India Sotheby’s International Realty (ISIR) and CRE Matrix, Gurugram’s luxury housing segment — homes priced at Rs 10 crore and above — recorded transactions worth Rs 24,120 crore in calendar year 2025, outpacing Mumbai’s Rs 21,902 crore.
This marks the second year in a row that Gurugram has overtaken Mumbai, which had dominated the luxury segment for nearly four decades.
What drove the luxury real estate surge?
The surge was driven by record-high sales of 1,494 luxury homes, with total transaction value in Gurugram jumping almost sixfold from Rs 4,004 crore in 2023 to Rs 24,119 crore in 2025.
The average size of homes sold stood at nearly 5,000 sq. ft., with the 4,000–6,000 sq ft segment contributing the largest share in value terms, while units above 8,000 sq ft accounted for 22% of overall value.
Tina Talwar, Area Director, India Sotheby’s International Realty, said: “What is particularly notable is that this growth is no longer confined to legacy addresses. Emerging micro-markets such as Dwarka Expressway, Golf Course Road, and Golf Course Extension Road are collectively driving a structural expansion supported by infrastructure upgrades, superior product launches, and enhanced connectivity.”
Dwarka Expressway led the boom
Among these, Dwarka Expressway led the boom, with a 2,079% surge in transaction value — from ₹383 crore in 2024 to ₹8,347 crore in 2025 — backed by large-scale luxury launches and improved infrastructure.
Golf Course Extension Road (GCRE) followed with a 379% rise in transaction value and notable price appreciation, as average prices climbed from ₹24,855 to ₹37,899 per sq. ft. In contrast, traditional premium corridors such as Golf Course Road saw moderated activity due to limited new supply.
Abhishek Kiran Gupta, Co-founder and CEO, CRE Matrix, said, “The nearly tenfold growth in the luxury segment over the past two years underscores sustained buyer confidence, strong capital inflows, and the expanding base of high-net-worth individuals. It also reflects a maturing demand profile — one that remains robust yet increasingly discerning, with buyers prioritizing prime locations, superior construction quality, and branded, amenity-rich developments.”
Talwar added, “This momentum is being reinforced by broader capital formation, with 103 Indian corporates raising a record $19.54 billion through main-board IPOs in 2025, creating a new cohort of founders and entrepreneurs entering the luxury housing segment. While geopolitical headwinds persist, buyer sentiment remains optimistic, albeit with more calibrated expectations.”
According to the report, Gurugram’s dominance represents a broader structural shift in India’s property market — from legacy metros to emerging urban hubs anchored by new infrastructure and wealth creation across technology, start-ups, and financial services.
Aakash Ohri, Managing Director and Chief Business Officer, DLF, said: “Strong demand in the over `10 crore segment reflects a decisive shift from mere ownership to the pursuit of a superior living experience — defined by larger, well-designed homes in gated projects offering privacy, security, lifestyle amenities, wellness, and curated community spaces, along with robust social infrastructure. This momentum is driven by sustained wealth creation across technology, start-ups, and financial services, alongside a growing base of entrepreneurs and senior professionals.”
Ohri added that the luxury buyer profile is becoming younger, with discerning buyers in their early 30s now actively investing. “Consistent NRI demand also underscores the appeal of these developments as they offer a global lifestyle benchmark aligned with what they are accustomed to overseas,” he said.