Gurugram tops Indian cities with 150% rise in housing prices since 2019: Square Yards

Gurugram has seen the maximum increase in the property prices among top cities since 2019 with average prices going up by 150%, according to PropTech platform Square Yards, which tracks registered residential transactions in India’s 9 cities.

With housing inflation moderation and price growth stabilising in several saturated markets, affordability for mid-income buyers is set to improve significantly.

In Pune, the prices have grown by 115% since 2019 while Noida and Greater Noida has seen 104% rise. Mumbai and Bengaluru have also seen 97% and 98% rise respectively.


Also Read: Large-ticket deals in 2025 signal strength in India’s office market

In 2025, registered residential transactions in India’s 9 prime residential markets declined by 5% year-on year even as total sales value increased by over 11% in the same period. This growth is driven by a 22% increase in average deal sizes.

“This divergence reflects a maturing market, where growth is increasingly shaped by demand rather than volume-led expansion. Amid a sharp rise in the number of wealthy Indians with higher disposable incomes, premium and luxury housing dominated value contribution in 2025, particularly across markets such as the MMR,” said Tanuj Shori, Founder & CEO, Square Yards.

According to Shori, sustained price appreciation over the last three to five years has begun to test affordability thresholds in several premium micro-markets. While demand remains structurally resilient, incremental growth in the luxury segment is expected to moderate in 2026, indicating the onset of a stabilization phase rather than a slowdown.

“New age customers are clearer about the kind of homes they want. Across major cities, they are choosing well-planned, substantial spaces that feel more meaningful to live in. Chandigarh,” said Parvinder Singh, CEO, Trident Realty.

As premium markets stabilise, and affordability improves across the mid-income segment, 2026 is likely to witness broader-based, end-user-led growth anchored in value rather than exuberance.

Mid-income buyers stands to gain from a mix of stable pricing, better-quality offerings and infrastructure-driven expansion into peripheral urban corridors, although outcomes will depend on active developer participation and execution.

“The year underscored the depth and structural stability of the real estate sector, supported by strong momentum across our marquee developments. We observed a decisive shift toward well-planned luxury homes that harmonise contemporary living with India’s timeless elegance. We expect demand to remain strong, supported by improving infrastructure, rising household incomes and evolving lifestyle expectations,” said Amar Sarin, CEO & MD TARC.