National developers double down on NCR, launch over 15,000 homes since 2022

For decades, housing demands of the National Capital Region (NCR) were predominantly met by regional developers with intimate local knowledge and large land banks. This reality is fast changing. Developers who once focused primarily on their home-turf cities such as Mumbai, Bengaluru, Pune, Hyderabad, Ahmedabad are now slowly but surely making their presence felt in NCR. It’s a sign of the times as residential real estate slowly becomes more institutionalized and brand-conscious.

According to latest ANAROCK Research data, the share of new NCR residential supply by national developers has quadrupled in the last four years – from 3% of the region’s total new residential supply in 2022 to over 13% by 2025-end. These players include Godrej Properties Ltd., Prestige Estates, TATA Housing, Mahindra Lifespaces, Adani Realty, Sobha Ltd, Shapoorji Pallonji Group, and Birla Estates.

Regional players continue to dominate this market, but large and listed developers from beyond NCR are now actively participating in its ongoing housing market evolution.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Of approx. 25,355 residential units launched in NCR in 2022, national developers spoke for just 3%, or less than 700 units. In 2025, out of the approx. 61,775 units launched in the entire region, nearly 8,100 units were by national players. Their participation reflects this markets’ increasing institutionalisation, as well as homebuyers’ growing preference for trusted brands with strong execution capabilities.”

It also highlights the growing confidence of India’s most prominent real estate brands in their ability to expand beyond their traditional home markets and tap into the opportunities of one of the country’s largest residential markets.

Supply Dynamics

Together, these players launched more than 15,130 units pan Delhi- NCR. This includes 30 residential projects between 2022 and Q1 2026. Godrej Properties leads this group by a wide margin and accounts for more than 47% share of total units launched by the studied developers across Gurugram, Noida and Greater Noida. Godrej’ consistent presence in each micro-market by launching projects across premium and upper mid-range segments helped them achieve significant scale. 

Bengaluru-based players Prestige Group and Sobha Ltd. follow Godrej with substantial supply in the region. Prestige captures about 27% of the studied players’ overall share in NCR spread across Ghaziabad alone, while Sobha Ltd.’s share of 10% is split between Gurugram and Greater Noida. Shapoorji Pallonji, Birla Estates, Adani Realty, Tata Housing and Mahindra Lifespaces account for few units when compared to others. However, they have favoured launching high-value projects within coveted locations such as Gurugram.

Interestingly, most projects by these national players almost exclusively have large 3/4/5BHK configurations, with the average size 3BHKs clocking in at ~1,830 sq. ft., 4BHK at ~2,600 sq. ft., and 5 BHK at ~4,465 sq. ft.

“The limited supply of smaller configurations suggests that most national developers are targeting affluent, lifestyle-oriented homebuyers,” says Santhosh Kumar. “Average pricing across these developers’ projects falls within the premium category, with several of these developments positioned squarely in the luxury and ultra-luxury segments. Geographically, Gurugram remains their most preferred destination – of the total new supply in NCR by these national players, Gurugram has the highest share at 47%, followed by Ghaziabad with 27%, Noida 13%, and Greater Noida with 12%.”

Gurugram’s enduring appeal continues to be driven by strong corporate demand, superior infrastructure, proximity to the airport, and continued expansion of employment hubs.

The NCR Opportunity

NCR’s strong cross-border allure is fuelled by rapid urbanisation, rising demand for branded homes, and its constantly expanding corporate landscape. These dynamics accelerated post-COVID-19, as consolidation in the residential sector and NCR’s scale and connectivity made it an increasingly vibrant diversification market.

Major infrastructure projects – Dwarka Expressway, Noida International Airport, Delhi-Mumbai Expressway, RRTS, and metro expansions – are reshaping connectivity and unlocking new residential corridors with long-term potential.

“Residential demand from both end-users and investors is led by premium and luxury housing in Gurugram, Noida, Greater Noida, and New Gurugram. While end-user demand matches it in most precincts, investor activity is a prime demand driver in NCR,” says Santhosh Kumar. “Also, buyer preferences are shifting toward credibility and execution. Branded developers are gaining share, especially in the premium segments where buyers can depend on timely delivery, quality, and trust – mirroring trends seen in global real estate markets.”

Where does this leave regional developers?

“In securely familiar territory,” says Kumar. “The rise of national developers does impinge on regional players’ relevance, especially in their established location citadels. Local developers retain critical advantages, including deep market knowledge and entrenchment, strong land relationships and historic land banks, and established customer networks.”

The emergence of branded national players has also helped raise product quality, transparency and customer trust in NCR. They consistently offer superior design aesthetic, higher square footage of amenities, environment-friendly construction and better governance. Such developers have also helped increase competition and pushed local players to upskill themselves on execution and project delivery standards.

NCR continues to be one of the most dynamic growth markets across the country. Driven by the robust performance of the luxury housing segment, large infrastructure projects such as Dwarka Expressway, Noida International Airport and expansion of regional metro networks across the region is leading to creation of new real estate development pockets. The rising share of organised and branded players is only making NCR’ s story stronger, making it one of the most sought-after residential real estate markets in the country.