Gurugram real estate: IT hub sees 150% housing price surge since 2019; outpaces Noida, Pune

Gurugram has experienced the most significant housing price increase among Indian cities, with values rising by 150% since 2019, according to market data. The rally was notably higher than in Pune, where prices climbed 115%, and Noida and Greater Noida, where the increase reached 104%. Mumbai and Bengaluru also saw substantial growth, with prices rising 97% and 98% respectively. The considerable jump in Gurugram's property prices has been driven by heightened demand in premium and luxury segments, despite a recent moderation in overall transaction volume across the sector, said real estate consultancy firm Square Yards. 

In 2025, residential transactions across nine major Indian cities declined by 5% year-on-year, yet total sales value rose by more than 11%. This divergence was fuelled by a 22% increase in average deal sizes, indicating that higher-value properties continue to attract buyers.

Tanuj Shori, Founder & CEO, Square Yards said, “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,”

Analysts note that affordability thresholds in several premium micro-markets are being tested, leading to expectations of a stabilisation phase by 2026 rather than a market downturn. As housing price growth moderates, affordability is likely to improve for mid-income buyers, particularly as developers expand into new urban corridors and offer better quality housing options. 

Prashant Sharma, President, NAREDCO Maharashtra said, “The year 2025 has been a landmark period for India’s real estate sector, marked by significant policy reforms, robust demand across asset classes, and a renewed focus on sustainable urbanization. The sector has not only demonstrated resilience but has accelerated its transformation into a more transparent, tech-enabled, and consumer-centric industry.”

Overall, India’s housing market appears well positioned for sustainable progress in 2026, supported by disciplined supply pipelines, a maturing buyer base and a gradual rebalancing of demand towards the mid-market segment