Gurugram has held on to its crown as India’s largest luxury housing market, pushing Mumbai to second place for the second consecutive year and signalling a deeper shift in where the country’s wealth now wants to live.
Homes priced above Rs 10 crore clocked sales of about Rs 24,120 crore in the millennium city in 2025, outpacing Mumbai’s roughly Rs 21,902 crore. The numbers tell a story beyond real estate. They capture new money, new aspirations and a changing idea of what luxury living should look like.
For years, Mumbai’s sea-facing apartments defined success. Today’s wealthy homebuyers are choosing something else: space, privacy and gated communities that function like self-contained ecosystems.
Along the Dwarka Expressway and Golf Course Extension Road, glass towers rise beside wide roads and upcoming metro lines. Inside, apartments range from 4,000 to 6,000 square feet, with private elevators, concierge services, and clubhouses that double as social hubs.
Startup founders, global executives, and non-resident Indians are driving this demand. Many are first-generation wealthy professionals who want homes that match their global lifestyles. “It’s not just about an address anymore. It’s about how you live every day,” said a Gurugram-based property consultant.
Mumbai still leads in one crucial metric, price per square foot. Land scarcity keeps supply tight and values high. But that same constraint limits the scale of new luxury launches.
Gurugram, in contrast, has land and large-format projects. Developers are building integrated townships where work, leisure, and living coexist. This has turned the city into a volume leader in the ultra-premium segment.
The ripple effect is visible across the NCR. Noida and Greater Noida together recorded over Rs 9,000 crore in sales in the Rs 10 crore-plus category, driven by new expressways and upcoming infrastructure.
The pandemic has left a lasting imprint on buying behaviour. The demand is no longer for a high-rise apartment in a crowded skyline but for a home that offers room to work, unwind, and host.
In Gurugram, ultra-luxury homes now account for nearly a quarter of total housing sales value. That share continues to grow as more high-end projects enter the market.
For India’s richest, the definition of luxury is changing. The sea view is no longer the only dream. A larger home, a shorter airport drive, and a self-contained neighbourhood are fast becoming the new markers of arrival.