From Oberoi Realty to Prestige Estates and Sobha: Why India's biggest realty brands are betting big on Delhi-NCR

For decades, Delhi-NCR's residential property market was dominated by regional developers with deep local expertise, extensive land banks and a strong understanding of buyer preferences. That equation is now changing. Buoyed by surging demand for premium and luxury homes across Gurugram, Noida, Greater Noida and Ghaziabad, India's leading real estate developers are venturing beyond their traditional home markets to tap one of the country's most lucrative housing opportunities.

Over the past two years alone, companies including Godrej Properties, Sobha, Prestige Estates, Adani Realty, Oberoi Realty, Birla Estates, Tata Housing, Mahindra Lifespaces and Shapoorji Pallonji have either launched projects or announced major investments across Gurugram, Noida, Greater Noida and Ghaziabad, intensifying competition in what is already India's largest residential market.

According to a latest ANAROCK Research report, the share of new residential launches by national developers in NCR has risen more than four-fold, from just 3% of total supply in 2022 to over 13% by the end of 2025.

In 2022, national developers accounted for fewer than 700 of the nearly 25,400 residential units launched across NCR. By 2025, they had launched nearly 8,100 homes out of around 61,800 new units in the region. Collectively, these developers introduced more than 15,000 homes across 30 projects between 2022 and the first quarter of 2026, the report noted.

Godrej Properties has emerged as the biggest national player, accounting for nearly half of all units launched by these developers. Prestige Group follows with a significant presence in Ghaziabad, while Sobha has expanded across Gurugram and Greater Noida. Adani Realty, Birla Estates, Tata Housing and Mahindra Lifespaces have largely focused on premium developments in strategic locations, particularly Gurugram, as per the report.

Why everyone wants a piece of NCR

Industry experts believe the influx of national developers marks a structural shift rather than a cyclical expansion. "Their participation reflects this market's increasing institutionalisation, as well as homebuyers' growing preference for trusted brands with strong execution capabilities," says Santhosh Kumar, Vice Chairman, ANAROCK Group.

"It also highlights the growing confidence of India's most prominent real estate brands in their ability to expand beyond their traditional home markets and tap into the opportunities of one of the country's largest residential markets," he adds.

The attraction extends well beyond robust housing demand. Massive infrastructure investments have fundamentally altered the region's investment case. The Dwarka Expressway, Noida International Airport, Rapid Rail Transit System (RRTS), metro expansion and new economic corridors have significantly enhanced connectivity while opening up new micro-markets for premium residential development.

This transformation is reflected in launch activity. Gurugram alone accounted for nearly 47% of all launches by national developers in NCR, followed by Ghaziabad, Noida and Greater Noida, according to ANAROCK.

The region's appeal is also being reinforced by improving regulatory oversight, better project execution and growing institutional participation, making NCR increasingly attractive for both developers and homebuyers.

Luxury takes centre stage

While developers are expanding across the region, their focus is overwhelmingly on premium and luxury housing.

Saurabh Bhutani, Senior Director – Research & Consulting at Savills India, believes NCR has entered a new phase of residential growth where demand has broadened beyond traditional buyers to include high-net-worth individuals (HNIs), NRIs and emerging segments such as senior living. Better infrastructure and rising buyer confidence are encouraging developers to launch larger branded communities across multiple micro-markets.

"The entry of these developers is expected to expand the premium and luxury housing market rather than simply compete for the same buyers. Strong brands bring new customers while also encouraging existing developers to raise the bar through better design, amenities, execution and customer experience," he says.

The product mix reflects that shift. Most launches by national developers comprise spacious three-, four- and five-bedroom residences, with apartment sizes and pricing targeted at affluent buyers rather than the mass market.

The trend is already visible in pricing. According to Savills India, Noida recorded a 28% year-on-year appreciation in capital values for premium under-construction homes, the highest among India's major residential markets, underscoring rising demand for branded housing.

Robin Mangla, President of M3M India, believes buyer preferences have fundamentally changed, with customers increasingly prioritising quality, execution and brand credibility over price alone.

"This is not the beginning of a new cycle, but a structural shift driven by sustained demand, infrastructure-led growth and rising buyer confidence," he says.

Mangla believes the ongoing infrastructure build-out—including the Dwarka Expressway, Noida International Airport, RRTS and expanding metro network—is creating entirely new premium residential corridors that are likely to support demand for years.

Going forward, he expects premium and luxury housing across the Dwarka Expressway, Golf Course Extension Road, New Gurugram, Southern Peripheral Road and the Noida-Greater Noida corridor to drive NCR's next phase of residential growth over the next three to five years.

Competition is changing

The influx of national developers is also reshaping how companies compete. According to Sudeep Bhatt, Director – Strategy at Whiteland Corporation, the basis of competition is shifting from land ownership to execution capability, financial strength and customer trust.

"Instead of land ownership alone, success will increasingly depend on financial discipline, product differentiation, design excellence and long-term credibility," he says.

Bhatt also points to the growing role of institutional capital.

"Regulatory reforms have significantly strengthened buyer confidence, while institutional capital has become more comfortable investing in developers with proven governance and execution capabilities."

He cites recent RERA data showing that Gurugram approved 51 residential projects involving investments of nearly $4 billion during the first six months of 2026, underscoring developers' growing confidence in the market.

Strong pipeline indicates momentum is only gathering pace

The growing pipeline of launches and land acquisitions suggests the race for Delhi-NCR is only intensifying, with several marquee developers preparing to unveil large residential projects over the next few years.

Last month, Mumbai-based Oberoi Realty announced plans to enter NCR with an ultra-luxury project in Gurugram involving an investment of around ₹6,000 crore and an estimated revenue potential of ₹16,000 crore. Prestige Estates Projects is expanding into Noida and Siddharth Vihar with projects having a combined gross development value of around ₹7,000 crore, while Sobha and Adani Realty continue to strengthen their premium portfolios across Gurugram, Greater Noida and the Dwarka Expressway.

Industry experts believe this is only the beginning. Over the next three to five years, NCR is expected to evolve into a multi-centre residential market rather than one dominated solely by Gurugram. While Gurugram is likely to retain its position as the luxury housing capital, Noida, Greater Noida and the Yamuna Expressway corridor are expected to emerge as the next major growth engines, supported by infrastructure-led development, expanding employment hubs and sustained end-user demand.