Q2 2025 Boost: NCR Real Estate Outperforms with 69% Rise in Launches

New Delhi, June 26th, 2025: While housing sales across India’s top seven cities plunged 20% year-on-year in Q2 2025, the National Capital Region (NCR) emerged as a relative bright spot, registering a 14% quarter-on-quarter (Q-o-Q) jump in home sales and a sharp 69% surge in new launches, according to the latest report by ANAROCK Research.

NCR recorded the sale of approximately 14,255 housing units in Q2 2025, up from 12,520 units in Q1 2025, indicating improving buyer sentiment despite macroeconomic and geopolitical pressures. On an annual basis, however, sales dipped by 14%, from around 16,550 units in Q2 2024.

The more significant trend was visible in new supply, which rose from 11,120 units in Q1 2025 to 18,760 units in Q2 2025—a 69% Q-o-Q growth and 10% higher than the same period last year. Notably, 82% of this new supply was in the luxury and ultra-luxury category, priced above ₹1.5 crore, underlining NCR’s shift toward premium housing.

“The second quarter was volatile for real estate, especially with external geopolitical tensions and internal uncertainties. However, NCR stood its ground, powered by luxury housing demand and optimistic developer activity,” said Anuj Puri, Chairman, ANAROCK Group.

NCR also posted the highest annual increase in residential prices among the top cities—up 27% year-on-year and 4% Q-o-Q—indicating strong demand momentum, particularly in Gurgaon, Noida, and the Dwarka Expressway belt.

Surinder Singh, Director, GLS Group said “The NCR real estate market has shown remarkable resilience in Q2 2025, especially when compared to the overall slowdown in other metro cities. A 14% quarterly growth in housing sales, coupled with a 69% jump in new launches, signals renewed energy in the market despite macroeconomic and geopolitical headwinds. At GLS Group, we see this as a turning point — one where buyer sentiment is being buoyed by stabilizing interest rates, improved infrastructure, and a growing aspiration for quality housing, particularly in emerging micro-markets like Sohna, New Gurgaon, and Dwarka Expressway.

GLS Group has always focused on value housing that bridges aspiration and affordability. Even amid these premium-heavy trends, we continue to see strong demand in the ₹25–50 lakh segment, especially from salaried professionals and young families. The ongoing infrastructure push in the region — including the completion of Dwarka Expressway and the Gurgaon-Pataudi stretch — is a huge enabler for end-user-driven demand in suburban locations.”

Across India’s top seven cities, approx. 96,285 homes were sold in Q2 2025—a modest 3% rise from Q1 but sharply lower than the 1.20 lakh units sold in Q2 2024. Fresh supply too saw a 16% year-on-year drop, though NCR and MMR together contributed 48% of all new launches.

Key national trends in Q2 2025:

•   Luxury and ultra-luxury segments (>₹1.5 Cr) accounted for 46% of total new supply, while affordable housing (below ₹40 lakh) contributed just 12%.
•  Average property prices across cities rose by 11% annually, with NCR leading this growth.
• Unsold inventory across the top 7 cities declined by 3%, with Pune seeing the sharpest drop at 15%.