Gurgaon continues to set the pace for NCR real estate in 2025. Fresh infrastructure openings, strong office and retail demand, and a shift toward premium housing have kept prices and rentals buoyant across prime and emerging sectors.
Snapshot: What changed this month
Big-bang infrastructure opened (Aug 17): The Delhi stretch of the Dwarka Expressway and a major section of UER-II were inaugurated, easing traffic and shortening airport runs; the Haryana stretch of Dwarka Expressway had opened earlier (Mar 2024). Expect faster commutes between Delhi, IGI Airport and Gurgaon, and stronger price support along the corridor.
Circle rates hiked from early August: Gurugram circle rates are up ~10–30% across many micro-markets (effective Aug 4), raising minimum valuation benchmarks and stamp duty outgo—typically a sign of rising underlying market values.
Values along Dwarka Expressway have doubled in ~4 years: Studies show average rates rose from ~₹9,400/sq ft (2020) to ~₹18,600/sq ft (2024), with more upside expected as the Delhi link goes live.
Luxury leads new supply: In NCR, luxury and ultra-luxury (₹1.5 cr+) dominate launches in 2025; sales dipped slightly overall, but premium segments continue to expand.
Leasing momentum is solid: Delhi-NCR office market saw strong absorption and rising Grade-A rents; Gurgaon captured the majority of NCR’s Q2 leasing. Retail pipeline for H2-2025 is also Gurgaon-heavy.
Why Gurgaon is still winning
1) Seamless, multi-modal connectivity
Gurgaon enjoys unmatched connectivity with multiple infrastructure developments shaping its future. The RRTC ensures high-speed rail access between Delhi and Gurgaon, while the DMIC positions the region as a hub for trade and logistics growth. The Jaipur Highway (NH-48) offers seamless connectivity to Jaipur and beyond, and UER-II provides a signal-free corridor linking North, West, and South Delhi for faster travel. Adding to this, the Dwarka Expressway (DXP) brings world-class infrastructure, creating a next-generation link between Delhi and Gurgaon.
2) Depth of jobs & spending power
India’s office market reached a record high in H1 2025 with 39.45 million sq. ft. of leasing activity, marking a 17.6% YoY growth. Q2 alone contributed 20 million sq. ft.—the highest-ever second quarter—driven by robust absorption, firmer rents, and healthy pre-commitments. Delhi NCR accounted for 20.8% of this volume, with Gurgaon dominating the region by contributing nearly 70% of NCR’s Q2 leasing, underscoring occupier preference for Cyber City, Golf Course Road, Udyog Vihar, and emerging nodes. On the retail front, Delhi-NCR is set to witness 2.63 million sq. ft. of new supply in H2 2025, of which Gurgaon will capture over 55% (around 1.4 million sq. ft.), reflecting strong brand appetite and rising footfall potential in its premium catchments
3) Government push & city-scale projects
Global City, Gurugram (1,000 acres) is advancing with environmental clearance secured and Phase-1 infrastructure packages worth ~₹940 crore already in motion, set to catalyze a hub of business, innovation, and mixed-use living around the Dwarka Expressway belt. Alongside, Haryana’s marquee Met City (Reliance MET, Jhajjar) is also gaining momentum as a large-scale industrial and residential township, strengthening the region’s positioning as a powerhouse for global investments and future-ready urban development.
Micro-market scoreboard (August 2025)
Gurgaon’s real estate continues to show remarkable momentum across its key corridors. Dwarka Expressway has witnessed property prices almost double from ₹9,434 per sq. ft. in 2020 to ₹18,668 per sq. ft. in 2024, with ~16,000 units launched and absorbed, and further 40–60% appreciation projected in the coming five years. Southern Peripheral Road (SPR) has emerged as the most active micro-market, attracting projects worth over ₹50,000 crore since 2022 with another ₹50,000 crore planned, driving a sharp 125% price growth in the past five years. Meanwhile, New Gurgaon (Sectors 76–95) is evolving as a strategic and affordable hub with integrated townships, commercial clusters, and metro-led connectivity, offering strong long-term growth potential alongside its affordability advantage compared to core city markets.
Dwarka Expressway belt
Momentum leader. Price appreciation has been the steepest over 3–4 years; with Delhi link now open, expect sustained end-user and investor demand.
Golf Course Road & Golf Course Extension Road
Blue-chip Office Zones and Residential with low vacancy and steady rent/price premiums; benefit from luxury shift and corporate demand.
Southern Peripheral Road (SPR) / Sohna Road & Elevated Corridor
Strong luxury launches and end-user traction; improved north-south connectivity supports upgrades from Semi luxury to Super/uber luxury & Branded Residences.
Old Gurgaon / Udyog Vihar / MG Road
Tight Grade-A vacancies and rising rents near job nodes; retail revival around MG Road and new-age formats add depth.
Prices & affordability: what to expect after the circle-rate hike
What changed: Circle rate revisions (effective early Aug) raise the minimum transaction values used for stamp duty. In many pockets, hikes are assumed to be approx ~10–30%. This typically tracks market reality after multi-year appreciation and can nudge listed prices upward in formal transactions.
Who feels it most: Upgraders and investors closing now will see higher duties; sellers see stronger benchmarked values, which supports price floors and bank valuations.
Net effect: Short-term deal re-negotiations are common post-hikes, but core demand corridors (Expressway, GCR/Golf Extn, SPR & New Gurgaon) tend to absorb the impact due to tight supply and job depth.
Demand mix: the luxury tilt
NCR new supply is skewed premium: In 2025, luxury & ultra-luxury form the bulk of launches, while affordable launches remain scarce—pushing averages up.
Gurgaon dominates NCR’s luxury sales: Recent mid-year reads show Gurgaon capturing ~90%+ of NCR luxury sales, especially around GCR, GCR Extn. SPR and Dwarka Expressway.
Rentals & yields
Residential rents are steadily firming up around major job hubs and reputed schools, with Expressway-adjacent sectors and the GCR/GCER belt commanding clear premiums driven by commute savings, lifestyle amenities, and sustained office absorption.
Buyer playbook (August 2025)
End-users now have a golden window to buy in Gurgaon’s prime corridors. With the Dwarka Expressway Delhi link and UER-II access becoming reality, projects here offer lifetime commute savings and seamless connectivity across NCR. Premium towers on GCR/GCER and Expressway sectors stand out not just for location, but also for world-class amenities, proximity to top schools, and strong rental demand. Add to that the limited supply and rising circle rates, and buying now means securing both lifestyle comfort and assured long-term value growth.
Investors:
Investors should look at Gurgaon right now because it offers the perfect mix of safety and upside. Ready-to-move and near-completion projects in hubs like Cyber City, Cyber City 2, GCER, and Dwarka Expressway cut down completion risk while giving immediate rental income in high-demand zones. With rising corporate absorption and premium catchments seeing limited supply, property values here are set for strong appreciation. On the retail front, upcoming 2025–26 malls in established corridors promise assured footfall and brand pull, while the emergence of Cyber City 2 along SPR is set to create a new commercial magnet—making early entry a chance to lock into future-ready growth.
Risks to watch (and why they’re manageable)
Affordability pinch: Circle-rate hikes and past run-up in prices can slow mid-income demand, but infrastructure openings, job growth and constrained quality supply continue to support core prices.
Execution timelines: Metro and Global City are multi-year; factor buffers in exit timelines and prefer credible developers.
Outlook for the next 6–12 months
Prices: Sideways to higher in prime corridors; 15–20% upside over two years was projected along the Expressway even before the Delhi stretch opened.
Sales mix: Premium continues to dominate new launches; any revival in mid-income supply would broaden the buyer base.
Leasing: With record H1-2025 absorption nationally and Gurgaon taking the lion’s share in NCR, rents and occupancy should remain firm in office-led neighborhoods.
Frequently Asked Questions
Q1. Is now a good time to buy in Gurgaon?
Yes, if you’re buying for end use or long-term hold in well-connected sectors. Infrastructure catalysts (Dwarka Expressway Delhi link, UER-II) are already in place, which is rare timing for buyers. Factor in slightly higher stamp duty due to circle-rate changes.
Q2. Which areas look the strongest for 2025–26?
Dwarka Expressway sectors, Golf Course Road/Extension, and SPR-Sohna Road belt—thanks to connectivity and job access.
Q3. How will the Gurgaon Metro help?
The HUDA City Centre–Cyber City line will bridge Old & New Gurgaon and spur-connect to the Expressway, improving last-mile access and supporting prices/rents near stations.
Q4. What about the Global City project?
The Global City project in Gurugram spans 1,000 acres along the Dwarka Expressway and comes with a massive potential investment of ₹1 lakh crore. Its inaugural phase, covering 587 acres, has secured budgetary sanction and environmental clearance and is currently underway, backed by ₹940 crore in approved funding—with completion slated by December 2026.
This phase includes critical infrastructure—13 km of internal roads, 26 km storm-water drains, potable and recycled water pipelines (~12 km each), 82 acres of landscaping, and a 10 km utility tunnel—as well as a 350 million-litre mass balancing reservoir spread over 18 acres
When fully developed, the project is expected to generate 500,000 job opportunities and benefit 1.6 million people, with HSIIDC overseeing operations until 2033 (maintenance charges apply from 2034)
trategically positioned just 30 minutes from IGI Airport, 20 minutes from the railway station, and 10 minutes from the proposed heliport and multimodal hub, Global City is designed to function as a self-sustaining, mixed-use micro-city—including residential, commercial, institutional, healthcare, retail, and innovation zones—stacked with modern, smart-city infrastructure to anchor Gurugram’s next growth chapter
Quick glossary
Circle rate: Government-notified minimum property valuation used to compute stamp duty/registration; when it rises, transaction costs and benchmarks rise too.
UER-II: Urban Extension Road-II—part of Delhi’s ring-road network that now links multiple national highways and feeder corridors, easing NCR traffic.
