Gurugram has overtaken Mumbai in the sale of ultra-luxury homes priced at ₹10 crore and above in 2025, according to a joint report by India Sotheby's International Realty (ISIR) and CRE Matrix. 

The report said sales of such high-end homes in Gurugram rose 80% last year to ₹24,120 crore. The sharp rise was driven by both a higher number of units sold and an increase in prices. 

Sales surge pushes Gurugram ahead 

In comparison, Mumbai recorded sales worth ₹21,902 crore in the same price category. This helped Gurugram, part of Delhi-NCR, move ahead of the country’s financial capital in terms of total sales value in the ultra-luxury housing segment. 

As per the data, the number of homes sold at ₹10 crore and above nearly tripled to 1,494 units in 2025 from 519 units in the previous year. In value terms, sales increased from ₹13,384 crore in 2024 to ₹24,120 crore last year. 

"While Mumbai has traditionally held the crown for being the most expensive real estate market, Gurugram in Delhi-NCR, outpaced Mumbai in total sales value for luxury homes priced at ₹10 crore and above during 2025," the report noted. 

The findings show that Gurugram’s primary housing market, which refers to first sales by developers, has seen strong traction in the premium and ultra-luxury segments. According to Industry experts, improved infrastructure, better connectivity, and the launch of new premium projects have supported this growth. 

Emerging micro-markets drive demand 

Tina Talwar, Area Director, India Sotheby's International Realty, said, "What is particularly notable is that this growth is no longer confined to legacy addresses. Emerging micro-markets such as Dwarka Expressway, Golf Course Road, and Golf Course Extension Road are collectively driving a structural expansion supported by infrastructure upgrades, superior product launches, and enhanced connectivity." 

These emerging locations have seen strong demand from high-net-worth individuals and business owners looking for larger homes and premium amenities. 

Abhishek Kiran Gupta, Co-founder and CEO of CRE Matrix, said the nearly tenfold rise in the luxury segment over the past two years underscores sustained buyer confidence, strong capital inflows, and the expanding base of high-net-worth individuals. 

The report mentioned that Gurugram’s rise in the ultra-luxury segment reflects a broader shift in buyer preference within the Delhi-NCR region. With rising incomes, expanding corporate presence, and better urban infrastructure, the city is becoming a key market for high-value residential transactions. 

If the current trend continues, industry experts believe Gurugram may further strengthen its position as a leading hub for ultra-luxury housing in India. 

(With inputs from PTI)