Gurugram property prices surged 150% since 2019. Other cities like Pune and Noida also saw significant growth. While transaction volumes dipped in 2025, sales value rose due to larger deal sizes. Wealthy buyers drove luxury housing demand. Afforda...
New Delhi: Property prices shot up maximum in Gurugram 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. Affordability for mid-income buyers is set to improve significantly with housing inflation moderation and price growth stabilising in several saturated markets.
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. In 2025, registered residential transactions in India's nine prime residential markets declined 5% year-on year though total sales value increased by over 11% in the same period. This growth is driven by a 22% rise 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, 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 stabilisation 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," said Parvinder Singh, CEO, Trident Realty.
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As premium markets stabilise, and affordability improves across the mid-income segment, 2026 is likely to see broader-based, end-user-led growth anchored in value rather than exuberance.
Mid-income buyers stand 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.
