DLF Phase 5, Gurgaon (Courtesy: VRK Home Estates)
Gurgaon has surpassed Mumbai to become the largest market in India by value for ultra-luxury homes priced at over ₹10 crores in 2025. Gurugram’s ultra-luxury housing market surged nearly sixfold in just two years, expanding from ₹4,004 crore in 2023 to over ₹24,000 crore in 2025. The city had already recorded ₹13,383 crore in sales in 2024, highlighting its explosive growth. Earlier, Mumbai had sold luxury homes worth ₹21,000 crores in the same category in 2025. Gurgaon has clearly overtaken Mumbai in recent times.
Surge in Luxury Housing Sales in Gurgaon
As of February 23, Gurugram has successfully sold approximately 1,490 houses, significantly higher than other major cities. To put this in perspective, in 2023, Gurugram sold 155 houses, implying units sold shot up nearly tenfold in only two years. Gurgaon and Mumbai are followed by Noida and Greater Noida, which have made sales of luxury houses in the 10-crore and above category. They have collectively sold approximately ₹9,300 crore worth of houses in 2025, followed by Hyderabad and Bengaluru, respectively.
Gurgaon, surpassing Mumbai and other cities, implies a rapid acceleration of wealth creation and immense participation from the high-net-worth individuals. The positive returns on businesses and the wealth created through capital markets are promoting the demand of premium housing in the city. Gurgaon’s appeal is not just restricted to the locals, but also to the Non-Resident Indians (NRI) who invest in real estate. On average, each house, priced at Rs 16 crore, showcases the growing inclination towards premium residential areas. Ultra-luxury housing accounted for 24 percent of Gurugram’s total residential market value in 2025.
Growth of Key : Micro Markets
Enhanced connectivity through “luxury corridors”, such as Dwarka Expressway and Golf Course Road, is giving way to accelerating urban development. These micro markets collectively enhance connectivity and infrastructure, catering to people’s needs and attracting new kinds of investments. Dwarka Expressway and Golf Course Road recorded strong gains and rising prices in recent times. Additionally, these micro markets are helping Gurgaon grow structurally and rapidly.
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