Gurugram luxury home sales surge 80% to ₹24,120 crore, overtakes Mumbai in 2025 – what’s fueling the demand?

Luxury home sales worth ₹10 crore and above in Gurugram increased 80 per cent last year to ₹24,120 crore, driven by higher volumes and price rises, PTI reported, citing a report.

India Sotheby’s International Realty (ISIR), a real estate advisory firm, and data analytics firm CRE Matrix released a report on Gurugram’s primary (first sale) luxury housing market on Monday. The report highlighted that the IT city in Delhi-NCR has surpassed Mumbai in sales of luxury homes.

Gurugram has become India’s fastest-growing high-end luxury residential market, with transactions reaching an all-time high of ₹24,120 crore for homes priced at ₹10 crore and above in 2025, up from ₹13,384 crore in 2024.

According to the data, sales of luxury homes priced at ₹10 crore and above nearly tripled to 1,494 units in Gurugram during the last calendar year, up from 519 units in the previous year.

The report highlights that Dwarka Expressway experienced a remarkable 2,079% increase in transaction value, jumping from ₹383 crore in 2024 to ₹8,347 crore in 2025, driven by large luxury launches and better infrastructure. Golf Course Extension Road (GCRE) also saw a 379% surge, with significant price gains, as weighted-average prices rose from ₹24,855 to ₹37,899 per square foot. However, traditional high-end areas like Golf Course Road faced slower sales due to limited new inventory.

Meanwhile, Mumbai recorded home sales worth ₹21,902 crore in this price bracket.

“While Mumbai has traditionally held the crown for being the most expensive real estate market, Gurugram in Delhi-NCR, outpaced Mumbai in total sales value for luxury homes priced at ₹10 crore and above during 2025,” the report said.

What is driving the demand?

A key feature of growth has been the nearly tenfold increase in ultra-luxury home sales over the past two years. This rise highlights strong domestic wealth creation, increased participation of HNIs and ultra-HNIs, and growing global investor confidence in Gurugram’s property market, the report said.

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.”

Meanwhile, Abhishek Kiran Gupta, Co-founder and CEO of CRE Matrix, said the nearly ten-fold 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.

The report observed that although geopolitical uncertainties continue, buyer sentiment in Gurugram remains optimistic but more cautious, with a growing emphasis on location quality, construction standards, and branded, amenity-rich developments.