For decades, the National Capital Region's (NCR) residential market was largely dominated by regional real estate companies with deep local networks, established land banks and a strong understanding of the region's diverse housing demand.
That landscape is gradually changing. According to Anarock Research, the share of new residential launches by national real estate companies increased from 3 per cent in 2022 to more than 13 per cent by the end of 2025, prompting fresh questions over whether regional players can retain their competitive edge in an increasingly brand-driven market.
Local Expertise Still Holds Value
The growing presence of national brands has been significant. Anarock data shows these companies collectively launched more than 15,130 homes across 30 residential projects between 2022 and the first quarter of 2026, with Godrej Properties accounting for over 47 per cent of the total launches and Prestige Estates another 27 per cent. Even so, the region's fragmented housing landscape continues to favour companies with deep local understanding.
Deepak Sangwan, Chairman, Origen Realty, said, "The increase in the share of national developers underscores the region's increasing maturity and market depth." He said the entry of reputed companies would strengthen quality benchmarks, governance standards and execution capabilities, while regional players would continue to remain relevant because of their understanding of local markets, land acquisition expertise and long-standing customer relationships.
That advantage becomes more evident across NCR's diverse micro-markets. Pushpamitra Das, Founder and CMD, Justo RealFintech, said Gurugram, Noida, Ghaziabad, Faridabad and Delhi cannot be viewed as a single housing market. Each city has distinct buyer behaviour, pricing dynamics and sales ecosystems, making local intelligence and execution critical to project planning. He added that success depends on adapting to individual micro-markets rather than replicating strategies from other cities.
The same trend is visible across emerging growth corridors. Ashok Singh Jaunapuria, Managing Director and CEO, SS Group, said improved connectivity has brought New Gurugram, Southern Peripheral Road (SPR) and Dwarka Expressway into focus, attracting both homebuyers and real estate companies. He added that regional players continue to benefit from their understanding of customer preferences and execution dynamics despite the growing presence of national brands.
Premium Housing Leads Expansion
Anarock's analysis also shows that most launches by national real estate companies comprise larger 3, 4 and 5 BHK homes, with the average size of a 3BHK at around 1,830 sq ft, a 4BHK at 2,600 sq ft and a 5BHK at nearly 4,465 sq ft. The data reflects a clear tilt towards the premium and luxury segments.
The shift, however, is also being shaped by project economics. Mohit Goel, Managing Director, Omaxe, said demand from first-time and middle-income buyers remains substantial, but rising land prices, construction costs, financing expenses and regulatory charges have made affordable housing projects increasingly difficult to execute.
"The challenge is not demand but viability," Goel said, adding that greater policy support would be required to unlock affordable housing supply at scale.
The viability challenge extends beyond rising construction costs. Das said higher land prices, approvals and taxation continue to compress margins in affordable housing, while premium projects currently offer stronger commercial viability. According to him, the focus should remain on delivering homes that buyers can afford without compromising project feasibility.
Infrastructure Redraws The Competitive Landscape
The concentration of new launches also mirrors NCR's evolving growth corridors. According to Anarock, Gurugram accounted for 47 per cent of the supply launched by national real estate companies, followed by Ghaziabad at 27 per cent, Noida at 13 per cent and Greater Noida at 12 per cent.
Large infrastructure projects, including the Dwarka Expressway, Noida International Airport, Regional Rapid Transit System (RRTS), Delhi-Mumbai Expressway and metro expansion, are improving connectivity and opening new residential corridors across the region.
Goel said NCR's combination of connectivity, economic growth and opportunities across residential, commercial and mixed-use developments has made it one of India's most attractive real estate markets. He added that buyers are increasingly seeking "integrated developments" combining residential, retail and social infrastructure instead of standalone housing projects.
Changing buyer preferences have further strengthened demand in these emerging locations. Jaunapuria said homebuyers are increasingly looking beyond traditional addresses in favour of locations offering larger homes, better amenities and stronger long-term appreciation potential.
Land Competition Intensifies
While national real estate companies accounted for more than 13 per cent of new residential launches in 2025, regional players continue to account for the majority of fresh supply in NCR. However, access to land is emerging as one of the biggest competitive challenges.
Goel said quality land parcels in well-connected locations have become increasingly scarce, resulting in higher acquisition costs and tighter project economics. He added that approvals, infrastructure readiness and regulatory compliance have become equally important while evaluating new opportunities.
Looking ahead, Das said the next phase is likely to be driven by disciplined land acquisitions, joint development agreements (JDAs) and selective redevelopment opportunities. Long-term success, he said, will increasingly depend on clear land titles, infrastructure readiness and execution discipline rather than simply acquiring land. |
