Gurugram continued to hold its position as the largest residential real estate market in the National Capital Region (NCR) during the second quarter of 2026. Despite a temporary moderation in overall regional supply, Gurugram maintained its dominance in both new project launches and housing sales, according to the ANAROCK Residential Market Viewpoints – NCR Q2 2026 report.
Gurugram Retains Market Leadership
The city of Gurugram accounted for a significant 46% of all new residential launches across the NCR in Q2 2026, solidifying its status as the region's primary development hub. Although launches saw a quarterly decline of 48% and an annual drop of 8%, developer interest remained strong, particularly in the premium and luxury home segments.
In terms of sales, Gurugram also led the NCR, capturing 41% of total housing absorption. While sales dipped by 17% quarter-on-quarter and 4% year-on-year, the demand for high-end properties continued to underpin the market. The city also held the largest share of unsold inventory at 46%, reflecting its extensive development pipeline and ongoing construction activities.
Ghaziabad Emerges as a Growth Hotspot
While Gurugram maintained its leadership, Ghaziabad delivered the most impressive growth figures within the NCR. The city recorded a remarkable 96% quarter-on-quarter jump in new residential launches, securing a 26% share of the region's total supply. This surge indicates a growing confidence among developers in Ghaziabad's improving infrastructure and expanding housing demand.
Crucially, Ghaziabad was the only micro-market in the NCR to register positive quarterly growth in housing sales, posting a 4% increase even as overall regional sales declined by 12%. This robust performance highlights resilient buyer demand and the city's increasing appeal to both developers and homebuyers, capturing 19% of total residential sales during the quarter.
Contrasting Market Dynamics
The performance of Gurugram and Ghaziabad reflects different stages of market evolution. Gurugram remains a premium residential powerhouse, driven by luxury demand, established business districts, and strong investor confidence. Its recent moderation suggests a stabilization after a period of aggressive expansion.
Ghaziabad, conversely, is experiencing rapid acceleration. New project launches, enhanced connectivity, and sustained buyer interest are positioning it as one of the NCR's fastest-growing residential markets. Its unique ability to achieve positive quarterly sales growth amidst a broader regional decline underscores its rising prominence.