Gurugram has overtaken Mumbai to become India’s largest ultra luxury housing market in 2025, marking a significant shift in the country’s high end residential landscape. Homes priced at ₹10 crore and above recorded total sales of ₹24,120 crore in Gurugram during the year, surpassing Mumbai’s ₹21,902 crore in the same category.
The data, released by India Sotheby’s International Realty in partnership with CRE Matrix, shows that this is the highest annual sales value ever recorded by any Indian city in the ultra luxury segment. Gurugram registered 1,494 transactions in the ₹10 crore plus category in 2025, the highest annual volume achieved by the city so far.
This milestone reflects not only a sharp rise in the number of high value deals but also a steady increase in property prices across key locations.
A Sharp Climb in Just Two Years
The pace of growth in Gurugram’s ultra luxury market has been remarkable. In 2023, the city recorded 155 unit sales in the ₹10 crore and above category. By 2025, that figure had surged to 1,494 units, representing nearly a tenfold jump in volume within two years.
The increase in transaction value has been equally striking. Sales rose from ₹4,004 crore in 2023 to more than ₹24,000 crore in 2025, marking a sixfold rise over the same period. This growth has been driven by a combination of higher absorption and price appreciation across prime residential projects.
The ultra luxury segment now contributes 24 percent of Gurugram’s total residential market value. The average ticket size in this category stands at ₹16 crore, with most homes sold falling in the 4,000 to 6,000 square feet range. Larger residences with premium amenities have seen particularly strong demand from affluent buyers seeking expansive living spaces.
New Growth Corridors Redefine the Market
A major factor behind Gurugram’s rise has been the rapid development of emerging micro markets. Areas such as Dwarka Expressway and Golf Course Extension Road have led the expansion, supported by infrastructure upgrades and a steady pipeline of high end residential launches.
Dwarka Expressway recorded one of the sharpest increases in transaction value. Sales in this corridor rose from ₹383 crore in 2024 to ₹8,347 crore in 2025, reflecting a 2,079 percent jump within a year. The scale of growth highlights the corridor’s transformation into a prime destination for luxury homebuyers.
Golf Course Extension Road also witnessed substantial momentum, posting a 379 percent rise in transaction value along with strong price gains. Improved connectivity, modern project offerings, and upgraded civic infrastructure have strengthened its appeal among high net worth individuals.
In contrast, established luxury zones such as Golf Course Road recorded relatively slower growth. The moderation is largely attributed to limited new supply rather than a decline in demand, indicating that fresh inventory in emerging corridors has played a decisive role in reshaping the market.
Wealth Creation Drives Premium Housing Demand
The surge in ultra luxury housing demand in Gurugram is closely linked to broader trends in wealth creation. A significant contributor has been robust activity in India’s primary capital markets.
In 2025, 103 Indian companies collectively raised $19.54 billion through mainboard initial public offerings. The influx of capital and liquidity has created a new cohort of wealthy entrepreneurs, founders, and investors, many of whom are channeling gains into premium real estate assets.
Industry observers note that this wave of IPO driven wealth has strengthened purchasing power in key metropolitan regions, with Gurugram emerging as a preferred destination due to its proximity to corporate hubs and expanding infrastructure base.Industry event listings
Despite ongoing geopolitical uncertainties, the growth in Gurugram’s ultra luxury segment appears to be supported by structural factors rather than short term sentiment. The combination of sustained wealth creation, improved connectivity, and high quality project launches has created a strong foundation for continued demand in the ₹10 crore and above category.
With record sales value, unprecedented transaction volumes, and expanding high end corridors, Gurugram has firmly positioned itself at the forefront of India’s luxury housing market in 2025.
Source: Ascendants
