Not Mumbai, but Gurugram is now India's luxury housing destination
23 Feb 2026

India's luxury housing market has a new champion: Gurugram.

The city has overtaken Mumbai to become the nation's fastest-growing ultra-premium residential hub, according to a report by India Sotheby's International Realty and CRE Matrix.

In 2025, Gurugram witnessed transactions worth ₹24,120 crore for homes priced at ₹10 crore and above. This is nearly six times the figure of ₹4,004 crore recorded in 2023.

Ultra-luxury segment accounts for 24% of total residential market
Market dominance

The report also highlights that Gurugram has surpassed Mumbai in terms of value for luxury home sales in the ₹10 crore-plus category.

The ultra-luxury segment now accounts for a whopping 24% of the city's total residential market by value.

An average home sold in this segment was around 5,000 square feet and cost roughly ₹16 crore, indicative of strong demand from high-net-worth individuals (HNIs) and ultra-HNIs.

Emerging micro-markets driving growth
Market expansion

Tina Talwar, Area Director at India Sotheby's International Realty, said the growth isn't restricted to traditional premium addresses.

Emerging micro-markets like Dwarka Expressway, Golf Course Road, and Golf Course Extension Road are driving this expansion.

Abhishek Kiran Gupta, the Co-founder and CEO of CRE Matrix, attributed the almost tenfold rise in luxury home sales over two years to sustained buyer confidence and strong capital inflows.