While the rest of India’s major metros are seeing a “cooling off” period, the Delhi-NCR real estate market has officially broken away from the pack. According to the latest year-end data from Anarock Research, Delhi-NCR has recorded a staggering 23% annual increase in residential property prices in 2025—the highest in the country.
The Big Numbers: NCR vs. The Rest of India
The price jump in the National Capital Region is nothing short of dramatic. In just twelve months, average prices moved from ₹7,550 per sq. ft. in 2024 to approximately ₹9,300 per sq. ft. by the end of 2025.
To put this in perspective, the collective average housing price across India’s top seven cities rose by a modest 8%. While NCR witnessed double-digit growth, other major hubs like Mumbai (MMR), Bengaluru, and Hyderabad saw single-digit appreciation ranging between 4% and 9%.
Market Snapshot: Sales and Supply
While prices are soaring in the North, the overall volume of sales across India showed signs of stabilization and, in some cases, a slight dip:
- The Big Five: MMR, Pune, Bengaluru, Hyderabad, and Delhi-NCR remained the engines of the industry, accounting for 90% of all home sales in 2025.
- Sales Cool Down: Despite being the sales leader with over 1.27 lakh units sold, the Mumbai Metropolitan Region (MMR) saw an 18% decline in sales compared to 2024. Pune followed a similar trend with a 20% drop.
- New Launches: Developers aren’t slowing down. Approximately 4.19 lakh new units were launched in 2025, a 2% increase from the previous year.
The Inventory Problem: A Growing Surplus?
For the first time in recent years, unsold inventory across the top seven cities has crept up by 4%, reaching a total of 5.77 lakh units. This is largely attributed to “tapered demand” as buyers become more cautious in the face of rising prices.
- Bengaluru’s Burden: Bengaluru saw the most significant spike in unsold stock, which surged by 23%.
- The Outliers: Only Hyderabad and Mumbai saw a marginal decline (1–2%) in unsold inventory, thanks to more restricted new supply in those specific regions.
What Does This Mean for Buyers in 2026?
The 2025 data suggests a market in transition. In Delhi-NCR, the rapid price appreciation indicates high premium demand (likely driven by luxury segments and infrastructure growth), but the rising unsold stock in other cities suggests that the “easy gains” for investors may be slowing down.
The Bottom Line: If you are looking at the Delhi-NCR market, you are entering at a record-high price point. Meanwhile, in cities like Bengaluru and Pune, the increase in unsold inventory might soon provide buyers with more room for negotiation.
