In a major shift in India’s property market, Gurugram has overtaken Mumbai to become the country’s biggest market for homes priced at Rs 10 crore and above in 2025.
According to the latest High-End Luxury Housing Report by India Sotheby’s International Realty and CRE Matrix, Gurugram recorded ultra-luxury home sales worth Rs 24,120 crore during calendar year 2025. This is the highest ever value achieved by any Indian city in this segment.
In comparison, Mumbai saw transactions worth Rs 21,902 crore in the same Rs 10-crore-plus category this year.
RECORD SALES IN BOTH VALUE AND VOLUME
The report, released on February 23, shows that 1,494 homes priced above Rs 10 crore were sold in Gurugram in 2025. This is the highest number of such homes ever sold in a single year in the city.
Just two years ago, in 2023, only 155 homes in this price range were sold. That means sales volumes have grown nearly ten times in a short span. In value terms too, the jump has been sharp, from Rs 4,004 crore in 2023 to over Rs 24,000 crore in 2025. In 2024, the figure stood at Rs 13,383 crore.
The data points to rising wealth, stronger investor confidence and growing demand from high-net-worth and ultra-high-net-worth buyers.
According to Tina Talwar, Area Director, India Sotheby’s International Realty, “The nearly tenfold growth in the luxury segment over the past two years underscores sustained buyer confidence, strong capital inflows, and an expanding base of high-net-worth individuals. At the same time, demand is clearly maturing. Buyers today are more discerning, prioritising prime locations, construction quality, and branded, amenity-rich developments over mere scale.”
HOW OTHER CITIES PERFORMED
After Gurugram and Mumbai, the next biggest markets for ultra-luxury homes were Noida and Greater Noida. Together, they recorded sales worth Rs 9,358 crore in 2025.
Hyderabad saw ultra-luxury sales of Rs 8,140 crore, while Bengaluru recorded Rs 2,319 crore in this category.
BIGGER HOMES, BIGGER BUDGETS
Ultra-luxury homes made up around 24% of Gurugram’s total residential market value in 2025. The average ticket size was about Rs 16 crore per home.
Most buyers preferred homes measuring around 5,000 square feet, especially in the 4,000–6,000 sq. ft. range. Interestingly, properties larger than 8,000 sq. ft. contributed nearly 22% of the total transaction value. This shows that many buyers are willing to pay extra for space, privacy and exclusivity.
NEW CORRIDORS LEAD THE GROWTH
Another clear trend is the rise of new luxury hubs within the city. Areas such as Dwarka Expressway, Golf Course Road and Golf Course Extension Road have seen strong demand.
Improved infrastructure, better road connectivity and new high-end projects have drawn buyers to these micro-markets. As a result, newer growth corridors are now competing with, and in some cases overtaking, traditional premium addresses.
For now, Gurugram appears to be at the centre of India’s ultra-luxury housing story, and the momentum suggests that demand for high-value homes is far from slowing down.
