“The top 1% of Delhi NCR homes is no longer a price bracket — it is its own asset class, with its own rhythm, its own buyer, and its own rules.”
An inside look at how ultra-premium residences in Golf Course Road and Aerocity outperformed the broader market by 18% this year.
A tale of two markets
In 2026, Delhi NCR did not have one residential market — it had two. The broader mid-premium segment grew a steady 7.4% year-on-year, roughly in line with inflation and wage growth. The ultra-premium segment — homes priced above ₹10 Cr — grew 18.2%, its strongest twelve months since the 2021 rebound.
Much of that divergence was concentrated in a handful of micro-markets. DLF Phase 5 along Golf Course Road, Aerocity, and select pockets of Chattarpur accounted for over 62% of all transactions above ₹20 Cr. The rest of NCR — Noida, Greater Noida, Dwarka Expressway — saw healthy volumes but limited price discovery at the top end.
Who is buying, and why
The buyer profile has sharpened. Three groups drove the top end: first, founders and CXOs who exited stakes in the 2024–25 IPO cycle; second, NRIs returning from the Gulf and Singapore on long-term relocation; third, legacy industrialist families consolidating primary residences into single premier addresses.
Across all three, the common thread is privacy. Low-density projects — Camellias, Aralias, the new Krisumi Waterside towers — are trading at meaningful premiums over higher-density counterparts with comparable specifications. Buyers are quietly paying for fewer neighbours.
What we expect for the year ahead
Supply at the top end will remain tight. Only seven projects across NCR are scheduled to deliver units above ₹15 Cr in 2026, and pre-launch interest is already covering 70% of planned inventory.
Our base case: ultra-premium prices hold double-digit growth through H1 2026, moderating to high single digits as new supply comes online in H2. Farmhouse estates in Chattarpur and Westend Greens remain the dark horse — illiquid, but with the strongest five-year appreciation curve in the region.
