Business

South, West builders tap NCR for next growth wave

By Sohail Khan 28 September 2026, 9:00 am

Benchmarks
Nifty23,140.5077.41

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
20.4 %

Invest Now

Enter search text:

Business News›Industry›Services›Property / C'struction›After home run, South and West developers tap NCR to drive growth

Read Today's Paper

After home run, South and West developers tap NCR to drive growth
Synopsis

The NCR region is rapidly becoming a strategic playground for real estate developers hailing from South and West India, spurring significant growth ventures. Renowned brands such as Prestige Group and Sobha are poised to make their mark amidst fierce competition, taking advantage of burgeoning opportunities. With buyers placing a premium on developer credibility and quality, the landscape is shifting.

India's Commercial Real Estate is Entering a New Growth Cycle: What Will Drive Demand? — Home turf conquered, South and West developers head to NCR

New Delhi: The NCR real estate market has emerged as the top priority for developers from South and West India with the region becoming the biggest market for them after their home states.

While Prestige Group and Sobha from Bengaluru have already expanded their base in NCR, Puravankara has recently acquired a 13.44-acre land parcel for its first project here.

Also Read: Housing sales drop 6% in Jul-Sep across top 9 cities to 1.03 lakh units on slow demand: PropEquity

From west, Godrej Properties is already a big player in NCR market, while Oberoi realty launched its Rs 16,000 crore project in Gurugram and expects the NCR-market to be as big as Mumbai.

L&T realty has also acquired land in Gurugram and Delhi while Lodha is set to launch its first project in NCR.

“NCR has become an important expansion market for established developers from South and West India, given the depth of its residential market and a buyer base that has become more receptive to national brands. What is distinctive about NCR is the strong participation we see at the early stages of the project lifecycle, which can help credible developers establish sales momentum relatively quickly,” said Shalin Raina, MD, residential services, Cushman & Wakefield.

At the same time, buyers are becoming more discerning. Brand credibility, execution track record, product quality and delivery are increasingly important considerations, which has created opportunities for established developers even when they are relatively new to the region.

“NCR has become an important part of our pan-India growth strategy. The region offers scale, strong housing demand and significant infrastructure-led growth. We are seeing a clear shift in how established developers from South and West India view NCR. It is no longer just an expansion market. It is becoming an important growth market. The combination of strong brands, execution capabilities and customer trust is bringing greater depth to the market,” said Rajat Rastogi, CEO- West & commercial assets, Puravankara Limited.

The entry of established names reflects confidence in the region’s demand, pricing and development potential.

Also Read: Mumbai ranks 8th globally in price appreciation of prime housing properties: Knight Frank

“The reasons are attributed to Infrastructure, wide geography and four states with different administrations and healthy competition for the development of the region. Large geography gives a very diverse development mix availability from ultra luxury high rise to affordable plotted, build-to-lease commercial complexes to strata sold commercial, mall spaces to SCO (shop cum office) plots and specific use to mix use,” said Hardeep Lamba, founder and MD of Rezonance Consultants.

Large and listed real estate developers are steadily reducing their dependence on home markets and expanding into other metro cities to tap growth opportunities, an Anarock analysis of investor presentations and annual reports and regulatory filings of the top 11 listed developers, said.

“Interest from NRIs with roots in North India also adds to the breadth of the buyer base. The response to several new entrants over the past few years has given developers greater confidence in NCR as a long-term market. As a result, we are seeing expansion into the region become less about testing a new geography and more about building a meaningful and sustained presence,” Raina said.

According to the Anarock analysis, only 32% of Godrej Properties’ FY26 pre-sales came from its home market of Mumbai Metropolitan Region (MMR), down from 55% in FY21, underscoring its aggressive expansion strategy.

Prestige Estates has also sharply reduced its dependence on Bengaluru. The city’s contribution to pre-sales fell to 40% in FY26 from about 90% in FY21 as Mumbai, Hyderabad and NCR gained prominence in its launch pipeline.

Sobha accelerated its expansion beyond Bengaluru in FY26, with nearly a third of its launches and sales contribution coming from other markets. Brigade Enterprises and Puravankara also widened their footprint across Chennai, Hyderabad, Pune and Mumbai.

In contrast, DLF, Oberoi Realty, Keystone and Signature Global remained heavily concentrated in their home markets, reflecting a more region-focused growth strategy than peers pursuing wider expansion.

DLF remained heavily dependent on NCR, which accounted for nearly 90% of its FY26 pre-sales. Signature Global continued to derive all its FY26 pre-sales from NCR.

However, DLF has entered Mumbai and is expected to launch the second phase of its project there this financial year.

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our WhatsApp channel)

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

(You can now subscribe to our WhatsApp channel)

Read More News on
puravankarasobhagodrej propertiesdlfNCR real estate marketSouth and West India developersreal estate expansionPrestige Group NCRGodrej Propertieshousing demand in NCR

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

Enter search text:

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with in-depth insights that matter

Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

The problem with lab grown diamonds
Why a falling rupee is a better option for the economy

A list of top 20 momentum stocks that have delivered massive returns in one year