After 150% surge, are Gurugram real estate prices due for a breather in 2026?

Gurugram has led the housing price increase among Indian cities, with property rates soaring by an impressive 150% since 2019, according to market data. The rally in real estate prices has outpaced Pune, where prices rose 115%, and Noida and Greater Noida, which have seen increases of 104%. Mumbai and Bengaluru are not far behind, with growth rates of 97% and 98%, respectively. The remarkable rise in Gurugram's property prices has been fueled by a surge in demand for premium and luxury properties, even as the overall volume of transactions in the market has shown some signs of slowing down, according to the real estate consultancy firm Square Yards.

Here's look at what housing experts said on the outlook of the Gurugram property prices. 

Pyush Lohia, director, Lohia Worldspace said, "Gurugram’s housing market is led by strong IT and Global Capability Centre demand and limited quality supply. A moderation phase is more likely than a crash. Rapid price appreciation generally leads to consolidation, but Gurugram’s fundamentals remain intact. Steady corporate expansion, continued demand for Grade A office spaces, and sustained interest from end users and investors support further growth, though at a slower and more selective pace.

Challenges such as affordability pressure, higher borrowing costs, and supply in certain peripheral pockets may soften transaction volumes in the mid-income segment. However, premium, well connected micro markets with strong infrastructure and employment density are expected to hold value."

Rishabh Periwal, Sr. Vice President, Pioneer Urban Land & Infrastructure said, "Gurugram is unlikely to see a price correction or crash. From a developer’s perspective, the market is entering a phase of consolidation, not stagnation. Demand today is structurally stronger and far more end-user driven than in previous cycles. Gurugram’s status as India’s prominent corporate and IT hub is attracting employment-led residential demand. This is further supported by mega infrastructure projects including Dwarka Expressway and metro extension, which are enhancing connectivity across residential corridors. The next phase of Gurugram’s growth won’t be defined by quick price hikes, but by depth of demand, quality of development, and enduring value creation."

Jitender Yadav, Director, Roots Developers said, “We are moving away from the breakneck 25% annual spikes of post-pandemic years towards a more mature growth pattern. A market crash is highly unlikely given the record-low levels of unsold inventory and massive surge of Global Capacity Centers (GCCs) which continue to anchor high income, end user demand. The 150% rise in Gurugram prices since 2019 is not a bubble nearing a crash, but a transition towards stabilisation and better quality. We are entering a period of price consolidation in over-leveraged luxury pockets, while corridors like New Gurugram and Dwarka Expressway will see constant growth. The market is now firmly endorsed by real infrastructure delivery, corporate-led growth, scarcity of prime lands, shifting the focus from speculations to long-term wealth creation for buyers and investors.”