After several years of strong growth, Delhi-NCR’s residential property market is showing signs of moderation.
The India Housing Report – September 2026, published by CRE Matrix and the National Association of Realtors–India, shows that primary housing sales in the region fell in both value and volume during January–June 2026.
The slowdown was particularly visible in the higher-priced housing segment.
NCR Housing Sales Decline 24%
Delhi-NCR recorded approximately ₹68,217 crore in primary residential sales during the first half of 2026, a 24% decline compared with the same period in 2025.
The number of homes sold fell by around 9% to 24,600 units.
Meanwhile, the average ticket size declined by 16%, from ₹3.31 crore to ₹2.77 crore.
These figures point to a change in the mix of properties being purchased, with relatively less sales value coming from expensive homes.
Importantly, a decline in average ticket size does not necessarily mean that individual property prices have fallen by the same percentage.
Luxury Housing Sees a Shift
Homes priced above ₹5 crore accounted for 45% of NCR’s residential sales value in the first half of 2026, compared with 51% a year earlier.
The ₹2–5 crore segment, meanwhile, gained market share.
Gurugram experienced an even sharper change. Its residential sales value declined by approximately 33% to ₹37,726 crore, although the number of homes sold remained broadly stable at around 12,000 units.
The city’s average transaction size fell from ₹4.65 crore to ₹3.15 crore.
This suggests that the change in Gurugram was driven partly by buyers purchasing a different mix of properties rather than a comparable fall in the number of transactions.
Developers Continue Launching New Homes
Despite softer sales, developers launched nearly 35,000 residential units across NCR during January–June 2026, an increase of approximately 10% year-on-year.
The figure was the highest half-year launch volume recorded in CRE Matrix’s reporting series.
With new launches exceeding sales during the period, buyers may have more projects to compare. However, the availability of suitable homes will continue to vary by location, budget and construction stage.
What Does This Mean for Homebuyers?
The moderation in NCR’s housing market may create opportunities for buyers to evaluate projects more carefully, particularly in locations with multiple new developments.
However, lower regional sales values do not automatically translate into lower prices or better deals in every neighbourhood.
Buyers should compare actual project prices, construction progress, RERA registration, connectivity and total ownership costs before making a decision.
The takeaway: Delhi-NCR’s housing market is moving away from the rapid growth seen in previous years. The latest figures indicate softer sales and a changing preference across price segments, rather than a uniform decline in property prices.
Sources:
- CRE Matrix and National Association of Realtors–India, India Housing Report – September 2026, published September 25, 2026.
- CRE Matrix, India Housing Market H1 2026 analysis.
- Business Standard, September 28, 2026.
Data note: Figures refer to primary residential sales during January–June 2026. Average ticket size is the average value of homes sold, not a measure of like-for-like property price changes.
