Gurugram Beats Mumbai in Luxury Housing

The seeds of urbanisation that was good in the sleeping of gurgaon (now gurugram) in the early 90s are now bearing fruit.

Today, Gurugram, Located in the delhi National Capital Region (NCR), HAS BCOME The Abode of Top Corporations Due to Its Affordable Commercial real estate and high-certain Favourably to Mumbai’s Commercial Hubs. It has no revalled the maximum city in terms of luxury residential real estate.

Legend had it that in that days, gurugram farms solder their land to real estate developers and boght ferris. Today, that land is minting gold. What started as a hub of call centers and malls, has now become the nereve center of the economy, housing top corporates like Air India, IndiGo, Maruti, JSW Mg Motors, and Hyundai, to Name a few. Gurugram has taken dwarfed delhi in terms of real estate pricing and quality of life, prompting many to relacate.

Now, The Haryana City has emerged as a challenger to Mumbai and, in Fact, Has Surpassed The Western Metropolis in Terms of the Number of the Number of Luxury Homes Sold in A Year, Thought India’s’ sq.ft. Rate and in Transaction Ticket Size.

Gurugram has become the abode of luxury homes priced Above ₹ 5 Crore Each. The average size of gurugram apartments has increased from 1,800 sq.ft. to 2,600 sq.ft, and with this, the ticks Apartments has been crossed ₹ 5 crore, making it the top destination for luxury houses, “said Samir Jasuja, MD, Propequity, A Real Estate Analytics Firm that Has Conducted Resuche

In 2024, ₹ 79,000 Crore Worth of Luxury Homes WHELD In Gurugram, which is about 50% of all luxury homes sold in India. In Mumbai, About ₹ 29,000 Crore Work of Luxury Homes Were Sold That Year, According to Propequity data.

Prefer Larger Homes

In Gurugram – Like in Most of North India – People Prefer Larger Homes, and Thus the Price Per Unit has Gone Up, While in Mumbai, Due to High Property Prists, Local Developrs ofFfers of Sizes, which is the reason behind gurugram stealing the show. The people who are buying luxury homes in gurugram include Nris, HNIS, Investors and End-Russars like cxos work in top Indian and multinational companies.

“Employment Generation, Proximity to Delhi Airport, Great Infrastructure and Superior Construction have led to Demand for Luxury Homes in Gurugram, Leading to Price Escalation,” Jasuja said.

He said the demand Momentum would continue to as People are gotting richer and seeking high-quality living.

For example, DLF Ltd. – India’s Top Real Estate Developer, Responsible for Modernising and Urbanising Gurugram – Sold 1,100 Units in Its DLF Privana North Project, Whoch Is Price Over ₹ 9 Croure Ekh, In Aone WHICH Recently.

In tune with the demand, almost all developers have now shifted their focus to luxury houses, as the return is far better than in other segments of housing.

Source: Propequity

The price appreciation in gurugram has been phenomenal compared to Mumbai, which is a landlocked city. As per proopequity data between January 2020 and April 2025, the Property Prisies in Gurugram Appreciated by 113.26%, while it was it was only 42.30% in Mumbai in the Sam.

In the period between January 2015 and April 2025, Property Prisis in Gurugram Appreciated 181.72%, while it was a mere 30.42% in Mumbai.

In 2020, The Weighted Average Price Per Sq.ft. was ₹ 10,090 in Gurugram, while it was ₹ 25,981 per sq ft in Mumbai.

In 2021, it dropped to ₹ 8,756 per sq.ft. In Gurugram, while it increases to ₹ 27,417 per sq.ft. in Mumbai.

In 2022, 2023, 2024 and 2025, The Weighted Average Price Increased to ₹ 12,802, ₹ 15,294, ₹ 17,733, and ₹ 21,518 per sq.ft. Respatively, in Gurugram. While in Mumbai, it rose to ₹ 29,793, ₹ 32,834, ₹ 34,282 and ₹ 36,970 per sq.ft. Respatively.

Gurugram might have stolen the thunder in terms of the average size of luxury apartments, but Mumbai stil commands the highest price in terms of per sq.ft. Rate.

In Gurugram, The Highest Price was about ₹ 1,90,000 per sq.ft. Whereas in Mumbai, it was ₹ 2,50,000 per sq.ft.

“These are one of the transactions, but in general, gurugram have arrowed,” Jasuja said. In 2024, The Demand for Luxury Homes in Gurugram Increased 66% to Nearly ₹ 1.07 Lakh Crore as per propequity’s estimates.

Areas like golf course road are witnessing a surge in Ultra-luxury housing as the city, which has transformed into a major corporate hub, is attracing professionals from all over, incidence from all over, Mumbai.

P. Pandey, A long-time Mumbai Resident, Shifted Base to Gurugram Post-Covid for Work. So did f. d’Souza. Both are seeking premium living, fueling the demand for luxury homes.

Snthosh Kumar, Vice Chairman of Anarock Group, said gurugram has undoubtedly seen a surge in activity in Ultra-Luxury Properties, with Bot Demand and New Supply SEPPLY SIPPLY SEEING A SIGNIFCANT JUMP OVER Last Few Years.

As per anarock research, back in q1 2023, as many as 1,920 units were launched in the ultra-luxury category priced at ₹ 2.5 Crore in the City, whose1 2025, the new support in this case 7,610 units – a Whopping 296% Jump in the Last Two Years, He Said.

Meanwhile, in Mainland Mumbai, The New Supply of Ultra-Luxury Homes in Q1 2023 Exceded Gurugram’s Back then, with approximately 2,110 units. However, in Q1 2025, New Supply in this Budget Category was Nearly 4,900 Units – At Least 55% lower than in gurugram, he added.

“This is essentially because post the pandemic, we are seeing high demand for luxury homes, and developers who previous refrained from launching projects in this category AREN CATEGORY ARE NOW MONGORY AND

Rise in Demand

He Said Due to Steadily Rising Demand, New Supply In the Ultra-Luxury Category by Large and Listed Developers Has Increased Substantically. Developers are seen cashing in on the rising demand.

One of the Major Beneficiary of the Changing Trend is Real Estate Company Signature Global (India), which has a large presence in gurugram.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., Said only in the last five years has the same emerged as the EPCENTRE of Premium Housing.

Its status as a corporate hub has live to significant internal migration from various parts of delhi ncr and neighbouring states, thereby fueling sustained demand for Quality Housing, He Said.

Key hotspots such as dwarka expressway, southern peripheral road, sohna, and south gurugram have witnessed a steady rain in property price. This growth has been worried about Driven by rapid infrastructure development, improved connectivity across Delhi-NCR, and a Growing Demand for High-Quality Residential Spaces from Both End-REDS Investors, Aggarwal said.

Mumbai’s Enduring appeal

Meanwhile, Mumbai’s Developer Community does not accept gurugram’s ascent.

According to Manju Yagnik, Vice Chairperson, Nahar Group, and Senior Vice President, Naredco Maharashtra, Whole Gurugram has certain a surnee a surge in the number of luxury housing trains, “Mumbai Remains Unequivocally the Crown Jewel of India’s Luxury Real Estate Market – Not just in terms of legacy, but also in value.”

“In 2023 Alone, Mumbai Recorded Luxury Home Sames Worth Over ₹ 38,000 Crore, with Average Prisies in Prime Locations like South Mumbai, BKC, and Juhu Ranging from ₹ 85,000 to ₹ 1.5 Lakh Per SQ.FT.T. Three to five times higher than luxury rates in gurugram, ”She said.

“Whats Mumbai Apart is not just the price tag but the deep-rooted aspirational value, Global Investor Interest, and Scarcity-Driven Demand. IT-Constrained City with A Coastline, Hitage Zones, and Limited vertical expansion, which continues to drive price appreciation, ”She said.

“Even thought gurugram may have surpassed mumbai in transaction numbers temporarily, Mumbai Continues to Lead in Total Value, Per Square Foot Pricing, and Long-Term Capital Appreciation-Making True EPICENTRE of India’s Luxury Real Estate Landscape, “She said.

Amit Vakharia, VP Projects, Ashar Group, Known for the Redevelopment of Late Actor Dilip Kumar’s Bungalow at Pali Hill in Mumbai, said that the number of Luxury Housing Transactions Trainsactions Gurugram, Mumbai Still “Remains and Retains the Gold Standard in Value, Prestige, and Per-Square-Foot Supremacy”.

“With luxury residences in Malabar Hill, Bandra, And Worli often Selling for Over ₹ 1 Lakh per sq. Ft., And individual transactions ranging from ₹ 50 Crore to Over ₹ 200 Croure HNIS and Uhnis who seek branded and well-located addresses, ”He said.

He added that Mumbai offered more than homes; It delivers a legacy of heritage, unmatched connectivity, Panoramic Sea Views, and Direct Access to India’s Financial Capital. “As Other Luxury Landscapes Evolve, Mumbai Continues to set the Benchmark for Value, Aspiration, and Investment Confidence in Indian Luxury Real Estate,” He said.

Mumbai

Leena Gandhi Tewari, Chairperson, Usv Ltd, have reported boght two luxury duplex flats for ₹ 639 Crore in Worli. The Duplexes, Spreading Across Four Floors, Cover a Total Area of 22,572 Sq.ft. The price works out to ₹ 2.83 lakh per sq.ft., Making it perhaps the costliest Residential Deal in India.

Tanya Dubas, Executive Director of Godrej Industries Group and Daughter of Adi Godrej, Through Shaeula Real Estates Private Ltd, have purchased a duplex apartment for ₹ 225.76 CROLI. With a total built-up area of 11,485 sq ft, the per sq.ft. Price Work Out to ₹ 1.97 Lakh.

In October 2024, Shreegopal Kabra, Promoter of RR Kabel and His Family, Purchased Two Luxury Apartments in Worli For ₹ 198 Crore. The Apartments Spread Over 13,809 Sq Ft, Translating INTO A Price of ₹ 1,43,000 A Sq.ft.

Gurugram

Rishi Parti, CEO of Info-X Software Technology, Set A Record in Gurugram by Purchasing a 16,290-Square-Foot Penthouse at DLF Camellias for ₹ 190 Crore. At that price, the per sq.ft. Rate works out to ₹ 1,17,000.