Having worked in real estate for more than 25 years, I have seen NCR move through excitement, correction and renewed confidence. Today, the question is not whether NCR will grow. The real question is: where will growth remain meaningful after the marketing noise settles?
The recent numbers are strong. JLL reported 13,631 residential launches in Delhi-NCR during the first quarter of 2026, 64% more than a year earlier. ICRA recorded a 19% year-on-year rise in area sold during the first half of FY2026 and a 13% increase in average selling prices. These figures show momentum, but they do not make every location or project equally attractive.
Growth will follow real use
In my view, the next phase will favour corridors where employment, homes and daily infrastructure develop together. Gurugram and Noida will remain central to this story, but buyers should judge individual locations by actual road and metro access, nearby workplaces, schools, healthcare and the quality of the surrounding community.
A proposed expressway or metro line can create expectation. Completed connectivity creates value. That distinction is important.
The office market also supports NCR’s long-term potential. CBRE reported that Bengaluru, Pune and Delhi-NCR together accounted for 58% of India’s office absorption in the second quarter of 2026. Residential demand is healthier when it is backed by jobs rather than speculation alone.
Premium demand cannot be the whole market
Luxury housing is clearly strong, but NCR also needs well-planned homes for middle-income families and first-time buyers. If prices continue rising much faster than affordability, genuine end users may be pushed farther away, increasing travel time and pressure on infrastructure.
My outlook remains positive, but selective. The strongest opportunities will be where completed infrastructure, credible delivery, realistic pricing and genuine demand meet. The same principle applies to every growing city, as I wrote in my reflection on Dehradun’s transformation.
Real estate rewards patience and due diligence. Buyers should verify RERA registration, title, approvals, construction progress and total cost before making any decision. Growth is valuable only when people can actually live, work and build a future there.
—Tushar Kumar
This article expresses the author’s personal perspective and is not investment advice. Market data was checked on 18 September 2026.