Housing price growth drops to 4 pc in Delhi NCR

“Seeing average housing price growth settle around 6% across the top eight cities in 2025 feels like a maturation moment for our industry. What the data underscores is not a market in retreat, but one finding rhythm; prices advancing in step with genuine demand instead of speculative spikes. The NCR’s relative strength shows that end-user absorption continues to anchor value, while moderation elsewhere reflects affordability recalibration,” said Rajjath Goel, Managing Director, MRG Group.

“The report indicating a moderation in housing price growth to 6% across the top eight cities reflects the real estate sector’s evolution towards a more refined and quality-driven growth cycle. Rather than volume-led expansion, the market is increasingly being shaped by discerning buyers who are prioritising design excellence, branded living experiences, and long-term lifestyle value.

Gurugram, in particular, continues to emerge as a hub for premium and luxury residential developments, driven by world-class infrastructure upgrades, seamless connectivity, and a growing base of high-income professionals and global investors, added Rishabh Periwal, Senior Vice President, Pioneer Urban Land & Infrastructure Ltd.

According to the report, inventory overhang remained within comfortable limits, indicating that supply was not materially outpacing demand. Unsold inventory growth was more visible in higher ticket-size categories, reflecting longer decision cycles and lower liquidity compared to mass and mid-income housing.Across the top eight cities, all-India residential sales declined by 12% to 3,86,365 units in 2025 compared to 4,36,992 units in 2024. This is the lowest annual sales since 2022.

In Q4 2025, sales contracted 10% YoY and 0.5% QoQ to 95,049 units. This is the lowest quarterly sales since Q2 2023 (80,250 units).The total new supply fell 6% to 3,61,096 units in 2025 as against 3,85,221 units in 2024. This is the lowest annual supply since 2021.In the October-December (Q4) 2025, supply rose 4% YoY and 0.2% QoQ to 92007 units. Rajan Yadav, Director, Roots Developers, concludes, saying "while national growth has stabilized to 6%, Gurugram remains a standout leader, buoyed by a significant 19% price appreciation across the NCR. For developers in Gurugram region, the focus on premiumisation and infrastructure ensures that project values remain resilient",