Delhi residential launches down 2% to 42,500 units in 2025

Gurgaon and Noida accounted for majority of the new supply.

Delhi NCR saw the launch of 12,055 residential units in Q4 2025 according to a JLL report, taking the total new supply for the year to nearly 42,500 units. This represents a marginal 2% year-on-year decline, indicating a relatively stable supply environment despite cautious developer sentiment.

JLL said Gurgaon and Noida continued to dominate the region’s residential market, together accounting for nearly 80% of the new supply in 2025. Key submarkets driving activity included Yamuna Expressway, Sohna Road, New Gurgaon, Dwarka Expressway and Indirapuram, supported by improving infrastructure and sustained buyer demand.

New launches across these corridors were led by prominent developers such as M3M, Godrej Properties and Prestige Estates, reflecting continued developer focus on high-growth micro-markets within the NCR.

Here’s more from JLL:

Nearly 11,100 residential units were sold in Q4 2025, taking total annual sales to approximately 39,000 units. This represents a decline of nearly 22% compared to 2024 and is indicative of a slowdown in sales momentum.

Gurgaon dominated residential sales in 2025 with a 43% share, followed by Noida (34%) and Ghaziabad (22%). Sales momentum was driven by prime residential submarkets such as Dwarka Expressway, Sohna Road, Yamuna Expressway and Raj Nagar Extension.

Overall capital values and rents strengthen over the year

Average residential capital values in Q4 2025 reflected a 12.6% y-o-y growth, driven by strong annual price appreciation in key markets like Ghaziabad (22.3%), followed by Gurgaon (12.5%) and Noida (10.1%).

Gurgaon recorded 12% y-o-y price growth as it remained a sought-after residential destination, followed by Ghaziabad at 4.5% and Noida at 3.8%. Delhi and Faridabad witnessed a marginal uptick of approximately 2%.

Outlook: Prices stagnate due to slower sales momentum

Residential launches are expected to moderate slightly in the coming months due to the sales slowdown. However, the long-term outlook remains positive, supported by continued land acquisitions by developers in Gurgaon and Noida.

Prime markets including Gurgaon, Noida and Ghaziabad are likely to drive residential sales momentum in 2026 due to the availability of new supply. Capital values and rental rates are likely to stagnate in the short to medium term.