The Delhi-NCR real estate market is currently navigating a period of intense transformation. While luxury housing prices are reaching unprecedented heights across the region, a high-profile legal battle in North Delhi’s Mukherjee Nagar is raising urgent questions about structural safety and institutional corruption.
The Luxury Surge: NCR Leads National Growth
As of January 2026, Delhi-NCR has solidified its position as India’s most aggressive real estate market. Fueled by a massive shift toward premium living, property prices in the region have jumped by 23–24% over the past year.
The most dramatic growth is visible in the luxury segment (homes priced above ₹1.5 crore), which now accounts for nearly 70% of all new launches. In high-demand corridors like the Dwarka Expressway, prices have increased by nearly 3.5 times since 2020. This “premiumization” trend is being driven by the completion of major infrastructure projects, including new expressways and metro extensions, which are turning once-peripheral areas into self-sufficient luxury hubs.
The Signature View Crisis: Stalled for Evidence
In sharp contrast to this growth, the Signature View Apartments in Mukherjee Nagar have become a symbol of the sector’s darker side. Built between 2007 and 2009, the 12-tower complex was declared “ruinous” and structurally unsafe by IIT Delhi just a decade after completion.
While the Supreme Court and Delhi High Court have cleared the site for demolition, the process was halted by the CBI in January 2026. The agency is currently conducting on-site evidence collection as part of a corruption probe involving 28 retired DDA officials and private contractors. The CBI has mandated that the towers remain standing until structural samples are tested to prove that quality standards were intentionally bypassed during construction.
This delay is placing a massive financial burden on the Delhi Development Authority (DDA), which is currently paying approximately ₹1.85 crore every month in rent compensation to the 336 displaced families. Under the 2026 revision, HIG residents are entitled to roughly ₹66,550 per month, while MIG residents receive ₹50,578, with a 10% annual hike built into the compensation plan.
A Critical Moment for Union Budget 2026
With the Union Budget set for unveiling in February 2026, the industry is calling for stability to protect this fragile recovery. Market leaders are pushing for three main shifts:
- Redefining “Affordable”: Raising the price cap from ₹45 lakh to ₹75–90 lakh to reflect the reality of current urban land costs.
- Tax Relief for Buyers: Increasing the home loan interest deduction (Section 24b) from ₹2 lakh to ₹5 lakh to support the middle class.
- Luxury Policy Maturity: Lifting the ₹10 crore cap on capital gains reinvestment to maintain liquidity in the high-end market.
The Outlook
The Delhi real estate story of 2026 is one of “lifecycle performance.” While investors are profiting from the infrastructure boom, the Signature View case serves as a warning that growth without quality accountability can be catastrophic. The upcoming budget will likely determine whether the government chooses to fuel the current luxury fire or implement the structural reforms needed to ensure that the next generation of homes is built to last.
