Not Mumbai or Bengaluru, this 'emerging' city becomes Indian elites' top choice for buying luxury homes above ₹10 crore

While Mumbai has historically been recognized as India’s most expensive real estate hub, current data reveals that Gurugram has surpassed the financial capital in total sales value for homes priced at ₹10 crore and above. Mumbai recorded sales worth ₹21,902 crore in this elite bracket, falling behind Gurugram’s impressive ₹24,120 crore total. This shift marks a significant milestone for the Delhi-NCR region, indicating that luxury buyers are increasingly focusing their capital on the technological and industrial hub of Haryana.

Tripling of Sales Volumes in the Luxury Segment

The growth in Gurugram’s luxury market is not merely due to rising property prices but is supported by a massive spike in transaction volumes. The number of luxury units sold leaped from 519 units in 2024 to 1,494 units in 2025. In value terms, the market nearly doubled from ₹13,384 crore in 2024 to over ₹24,000 crore in just one year. This ten-fold growth over the past two years underscores a deep-rooted buyer confidence and a robust influx of capital from an expanding base of wealthy investors.

Emerging Micro-Markets

According to Tina Talwar of India Sotheby’s International Realty, the luxury boom is no longer restricted to traditional premium addresses. Newer micro-markets such as the Dwarka Expressway, Golf Course Road, and Golf Course Extension Road are now the primary engines of this expansion. These areas are benefiting from significant infrastructure upgrades, the launch of superior residential products, and enhanced connectivity, which have collectively made them the preferred choice for modern luxury seekers.

Sustained Confidence of High-Net-Worth Individuals

The CEO of CRE Matrix, Abhishek Kiran Gupta, noted that the extraordinary growth in this segment highlights the strength of the high-net-worth individual (HNI) base in India. The sustained demand for primary sales—the first sale of a property—suggests that buyers are looking for high-quality, newly developed assets. The combination of strong capital inflows and a shift in lifestyle preferences continues to propel Gurugram’s real estate market to unprecedented heights, cementing its status as a premier destination for high-end living.

(With PTI inputs)