The National Capital Region’s residential real estate market is pivoting from volume-driven affordable housing to value-driven premium supply, according to a market assessment report released by real estate services firm JLL on Thursday.
The region, which encompasses Delhi, Gurgaon, Noida, Greater Noida, Ghaziabad, Faridabad, and Sohna, remains a dominant force in the national real estate landscape. Along with Bengaluru, Mumbai, and Pune, it helped account for approximately 77% of all housing sales across India’s top seven cities in Q1 2026.
The numbers
Sales: In Q1 2026, housing sales in Delhi-NCR reached 10,740 units, a 30% increase from the 8,290 units sold in Q1 2025.
Launches: New project launches saw an exceptional 64% year-on-year surge, with 13,631 units introduced to the market in Q1 2026 compared to Q4 2025’s 12,055 units.
Price appreciation: Driven by this premiumisation and underlying demand, Delhi-NCR led the year-on-year property price growth, recording a substantial 12-15% annual growth in capital values.
Rahul Singla, Director of Mapsko Group, weighed in on these figures: “JLL’s latest update has indicated the impressive performance of India’s residential real estate sector, with Delhi-NCR registering an exceptional rise in sale numbers of 30%, putting it in one of the best-performing locations. It signifies the sustained investor optimism and increasing inclination towards high-quality housing schemes. With a strong development pipeline and efficient absorption of demand, the market is in equilibrium, making Delhi-NCR a highly favoured destination for both developers and investors alike.”
The Rs 1 crore+ segment
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The divergence between launch and sales growth represents developers’ strategic focus on medium- to long-term demand projections, the report noted.
Specifically, the market is witnessing a clear shift away from affordable housing. Nationally, the premium segment dominated Q1 2026, with apartments priced above Rs 1 crore accounting for 71% of total sales.
Pushpender Singh, Managing Director of JMS Group, noted: “The steady rise in housing sales across Delhi-NCR reflects a clear shift in buyer preference. Today’s homebuyers are choosing larger homes and better communities. The Rs 1 crore-plus segment is seeing strong demand, especially in NCR. This is driven by higher incomes, lifestyle changes, and long-term investment confidence. Going forward, developers will focus more on premium and mid-premium offerings to match this evolving demand.”
Rajan Yadav, Director of Roots Developers, echoed this sentiment: “The rising growth in housing sales shows that the market is becoming more quality focused. Buyers are willing to spend more, but they want better quality and location advantages. The Rs 1 crore-plus segment is expanding beyond core city areas. This trend is supported by advanced infrastructure and improved lifestyle.”
Opening up new micro-markets
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The upward market trajectory is heavily intensified by enhanced infrastructure, such as expressways and Metro connectivity, which continue to open up micro-markets throughout the region, developers added.
While Gurgaon and Noida have traditionally led the charge, new frontiers are rapidly emerging, they said.
Mohit Malhotra, Founder & CEO of NeoLiv, highlighted one such beneficiary: “Within this regional upswing, after Gurgaon and Noida, Faridabad has emerged as a high-potential micro-market, driven by accelerated infrastructure development and dramatically improved connectivity across the NCR. The opening of the Jewar Airport connecting Faridabad by the expressway, cutting travel time to just 30-45 minutes, along with the upcoming metro extensions, and the nearly completed FNG Expressway, has fundamentally repositioned the city on the region’s realty map.”
In its concluding insights, the report noted that as the residential sector advances into 2026, the market is underpinned by rising affluence, ongoing urbanisation, and a sustained shift toward premiumisation.
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“While near-term economic uncertainties have led buyers to adopt a more measured approach, the substantial supply pipeline, particularly in the premium segment, is well-positioned to meet demand as confidence stabilises…,” it said.
Siva Krishnan, Senior Managing Director, JLL India, said the residential market is navigating a transitional phase where robust supply is meeting measured buyer sentiment.
“This temporary divergence is not unusual and reflects a healthy market adjustment and not a structural concern. The strong performance of the premium segment… demonstrates that underlying demand fundamentals remain strong, particularly among affluent buyers who are less sensitive to short-term economic fluctuations,” he said.
