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Gurgaon and Noida have grown at the expense of Delhi as the city’s land potential could not be exploited to the extent it should have been, said Anand Kumar, chairman of Real Estate Regulatory Authority (RERA) for Delhi.
“We have enough land available in Delhi, but unfortunately, there was no land use change policy. And since there was no land use change policy, unauthorised construction took place,” said Kumar.
Developers as well as regulators are pinning hope on the implementation of long-delayed Master Plan of Delhi.
“Unauthorised construction has become a bane to Delhi’s development. The new master plan could offer a policy of reorganisation of these unauthorised colonies and redevelopment of the societies and buildings that are old,” Kumar said at a CII event in Delhi on Monday.
This combined with infrastructure planned in and around the capital would help the real estate sector.
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“To create more jobs, Delhi needs real estate sector to thrive. Now, there is no competition between the cities in NCR and they are self sustainable cities when it comes to the real estate demand. Master plan will help unlock the potential of Delhi,” said Anshuman Magazine, chairman & CEO-India, South-East Asia, Middle East & Africa, CBRE.According to CBRE, the office supply in the capital has been limited since 2016, largely due to a scarcity of developable land. However, this trend is set to change, with the market expected to add approximately 5 million sq ft of new office space between 2025 and 2027.“Delhi’s strong economic potential has helped its property market not just to bounce back, but also start on a path of steady, high-quality growth,” Magazine said.
Delhi’s real estate sector is on a trajectory of sustained growth, driven by a combination of progressive policies, visionary urban planning and cutting-edge technology.
From January to June (H1 2025), Delhi recorded an office space absorption of approximately 400,000 sq ft, driven by strong business confidence in core business districts. The leading sectors driving this demand were research, consulting and analytics (39% share), followed by flexible space operators (23%) and BFSI (18%), collectively contributing to around 80% of total leasing activity in the six-month period.
During this period, Delhi also recorded a healthy retail space absorption of about 230,000 sq ft, with high streets accounting for 72% of the total leasing. Fashion and apparel retailers demonstrated the highest demand with a 35% share, followed by homeware and department stores (20%) and food and beverage operators (17%), underscoring the growing popularity of lifestyle-driven and experiential retail formats across key locations.
On the residential front, the Delhi-NCR market has demonstrated a robust growth in H1 2025, dominated by luxury units. In the first six months, the region witnessed about 21,000 new launches, 35% higher year-on-year, and an equally healthy sales of over 21,000 units. High-end (31%), premium (26%) and luxury (18%) segments together accounted for 75% of total sales.
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