New Delhi, Jan 22: As 2025 came to a close, residential markets across Delhi, Noida, Greater Noida and Gurugram reflected distinct local dynamics, even as the broader Indian housing sector entered a phase of cyclical moderation, according to the latest Magicbricks PropIndex report for October–December 2025. Across these NCR markets, the quarter was marked by a revival in housing supply, selective buyer participation and a gradual shift toward more balanced, end-user-driven growth.
In Delhi, the residential market underwent a measured recalibration during the quarter. Buyer enquiries declined 11.2 per cent quarter-on-quarter, while supply rose 3.5 per cent, creating a mild mismatch between demand and new listings. Despite softer sentiment, prices increased 1.2 per cent QoQ, signalling market resilience rather than stress. Demand and supply activity remained concentrated in established micro-markets such as Dwarka, Rohini, Uttam Nagar, Saket and Laxmi Nagar–Patparganj, reflecting continued preference for well-connected locations with mature social infrastructure. Ongoing metro expansions, road upgrades and redevelopment initiatives across West, South and North Delhi continued to support buyer interest, particularly in mid-sized homes suited to end-user needs.
Noida presented a contrasting picture, where demand moderated but developer confidence remained intact. Buyer searches declined 11.5 per cent QoQ, even as housing supply expanded by 4.8 per cent, underlining a long-term, fundamentals-led outlook. Prices rose 0.9 per cent quarter-on-quarter, supported by steady absorption across key growth corridors. Activity was driven by micro-markets along the Noida Expressway, Noida 7X near the FNG corridor, Dadri Main Road, Central Noida near Golf Marg and Jaypee Greens Wish Town, all of which continued to attract interest due to improving connectivity and infrastructure visibility. The impending operationalisation of the Noida International Airport and expansion of metro and rapid rail corridors reinforced Noida’s positioning as a future-ready residential market despite near-term demand softness.
Greater Noida emerged as one of the strongest supply-led markets in OND 2025. Housing supply increased sharply by 9.6 per cent QoQ, while demand declined 15.1 per cent, reflecting a deliberate build-up of inventory ahead of future absorption. Prices remained largely stable, with a marginal 0.2 per cent quarterly increase, pointing to a market prioritising volume and affordability over aggressive price growth. Buyer activity and fresh listings were concentrated in micro-markets such as Greater Noida West, Omega–Chi–Phi, Zeta–Eta–Theta, Pi–Rho–Sigma and Jaypee Greens, where planned sector layouts, improving expressway access and proximity to upcoming logistics and institutional hubs continued to drive end-user demand for larger, value-oriented homes.
Gurugram recorded a mixed but steady performance during the quarter. While demand declined 18.1 per cent QoQ, housing supply rose 6.6 per cent, reflecting sustained developer confidence in the city’s long-term fundamentals. Prices edged up 0.4 per cent during the quarter, supported by continued traction in premium and upper-mid segments. Activity remained focused along Dwarka Expressway, Golf Course Extension Road, Southern Peripheral Road, Sohna Road and emerging pockets of New Gurugram, with micro-markets such as Sushant Lok 2 & 3 and Central Gurugram also gaining prominence. Infrastructure upgrades, corporate-driven housing demand and the city’s evolving premium residential profile continued to underpin market stability despite short-term demand moderation.
At the national level, residential prices rose 1.5 per cent quarter-on-quarter and 16.9 per cent year-on-year, marking the slowest pace of appreciation in two years and reinforcing the shift away from speculative growth toward more rational price discovery. Within NCR, the OND 2025 data indicates that while buyer sentiment remained selective, improving supply confidence, infrastructure-led micro-market strength and a sharper focus on mid and upper-mid housing segments have positioned Delhi, Noida, Greater Noida and Gurugram for a more stable and sustainable growth cycle as the market moves into 2026.
The contents of this email and any attachments are confidential to Dentsu International Limited, its affiliated companies and the intended recipient(s) and may also be attorney-client privileged or otherwise protected by work product immunity or other legal rules. Any review, retransmission, dissemination or other use of or taking action in reliance upon this information by persons or entities other than the intended recipient(s) is prohibited. If you have received this email in error please contact the sender and delete the material from any computer.
Dentsu International Limited is registered in England and Wales No.01403668. Registered office: 10 Triton Street, Regents Place, London, NW1 3BF VAT No. GB 523 2013 06.
