Luxury housing launches in Gurugram fell 28% in H1 2026 even as independent floor prices in South Delhi jumped up to 21% year on year, new reports show.

Developers in Gurugram launched just 4,549 luxury units in the first half of 2026, down sharply from 6,350 units a year earlier, according to a report by property consultancy Savills India. Golf Course Extension Road, Southern Peripheral Road and the Dwarka Expressway together made up nearly 70% of all new launches during the period.

The slowdown in launches came alongside cooling price growth. Capital values of completed premium properties across Gurugram rose just 2% year on year at the city level, a far slower pace than the 11% to 13% compound annual growth these micromarkets logged between 2022 and mid 2026.

Dwarka Expressway posted the strongest gain among completed properties at 6%, while Golf Course Road actually saw values dip 2%, even though it still commands the highest per square foot rates in the city. Plot prices bucked the trend, climbing 11% citywide, with Dwarka Expressway plots up 16%. Rents across Gurugram also rose 10% on average.

South Delhi told a different story. A separate report from Golden Growth Fund found that average prices for 6,000 sq ft independent floors in Category A colonies, including Vasant Vihar, Golf Links and Jor Bagh, climbed from Rs 40.5 crore to Rs 48.5 crore between the second quarters of 2025 and 2026, a rise of nearly 20%.

Smaller 2,500 sq ft floors saw prices jump 21% to Rs 23 crore. The fund’s CEO, Ankur Jalan, attributed part of the demand to wealthy NRIs and HNIs shifting investments away from the Middle East amid regional geopolitical tension.

Both markets point to the same underlying trend, limited land supply pushing up prices in established, land scarce pockets even as broader launch activity slows.

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