Lodha Developers Eyes Gurugram as the Launchpad for Its NCR Growth Story
Gurugram continues to dominate the NCR real estate narrative, and now another major developer is ready to join the race. Lodha Developers, India’s largest listed real estate player, has officially set its sights on Gurugram as the entry point for its long-awaited NCR expansion. As the company gears up for its first-ever NCR project, industry watchers see this as a significant shift in the region’s competitive landscape.
In this blog, we break down Lodha’s NCR strategy, its upcoming pilot launch, the company’s bullish view on India’s property cycle, and exclusive insights from Sanjeev Singh, MD of SKJ Landbase.
Gurugram Becomes Lodha’s First Choice in NCR
Lodha Developers has been evaluating NCR for years, but now the company feels the timing is right. During the October 31 investor call, Abhishek Lodha, MD & CEO, clearly stated that the company will most likely begin its NCR journey from Gurugram.
He said the company stays open to Noida and other micro-markets. However, Gurugram’s massive demand base and premium market depth push it to the top of the priority list.
This clarity also signals Lodha’s confidence in the luxury and upper-mid housing demand driven by corporates, global capability centers, and a fast-evolving millennial buyer segment.
Gurugram Already Contributes Over 50% of NCR’s Market Activity
Now here’s where things get interesting.
Abhishek Lodha highlighted that Gurugram accounts for more than 50% of the entire NCR real estate market. This gives Lodha a massive runway for scale, especially when compared to its other mega developments like Palava and Upper Thane in MMR.
He explained that while Palava and Upper Thane will eventually form 3.5% of the MMR market, Gurugram already holds a dominant position in NCR. This means Lodha’s NCR entry could quickly scale up without the long gestation period seen in newer township markets.
NCR Pilot Project Expected in 2026
Moving ahead, Lodha Developers plans to launch its first NCR pilot project in 2026.
The developer expects this controlled entry to help them understand the region’s consumer behaviour, regulatory environment, and supply-chain setup.
This deliberate and steady approach reflects Lodha’s strategy in Pune and Bengaluru, where the company entered through smaller pilot phases before scaling up.
Abhishek Lodha also shared his broader vision:
- The company aims for 20% annual growth.
- It targets 20% ROE by expanding across the four largest real estate markets: Mumbai, Pune, Bengaluru, and now NCR.
- The 2026 NCR pilot will become a key part of this long-term expansion plan.
In July 2025, he had already confirmed that one or more land acquisitions in NCR will likely conclude within the fiscal year, enabling the first launch in FY27.
India’s Real Estate Market Hasn’t Even Taken Off Yet” – Lodha
Beyond NCR, the CEO shared a powerful view on the macro cycle.
During the Q2 FY26 earnings call, he said that India’s property market is still on the runway, not yet in its takeoff phase.
According to him, the industry is just beginning to accelerate.
He compared the ongoing shift from low-income to mid-income housing to transformations in other major global economies. And whenever such transitions occur, they usually trigger 15–20 year-long real estate cycles.
From Lodha’s perspective, India has completed only four to five years of this cycle. This means the industry may still witness a decade or more of consistent growth.
He also acknowledged that some quarters may slow down temporarily, but the runway remains long and stable.
Why Gurugram Makes the Perfect Launchpad for Lodha
Now, the question is:
What makes Gurugram such a compelling first step for Lodha?
Here are the top reasons:
- Market depth in premium & luxury housing
Gurugram’s micro-markets from Golf Course Road to Dwarka Expressway continue to attract high-income buyers.
- Strong corporate ecosystem
BFSI giants, GCCs, Fortune 500 firms, and startup hubs fuel demand year-round.
- Infrastructure expansion
The Dwarka Expressway, Global City, metro extensions, CPR, SPR, and rapid road upgrades increase buyer confidence.
- Investor-friendly market
Gurugram offers higher price appreciation than most NCR micro-markets.
Together, these factors create a fertile ground for Lodha’s brand to thrive.
Industry Insight: Sanjeev Singh, MD – SKJ Landbase
Lodha entering Gurugram will reshape the competitive landscape. Their quality, planning and execution standards are unmatched. Buyers today want reliability and strong delivery track records, and Lodha brings exactly that. Gurugram’s premium housing demand is at an all-time high, so their timing couldn’t be better.”
His perspective reflects the excitement that stakeholders across NCR share as a top developer prepares to enter the region.
Conclusion: Lodha’s NCR Move Can Transform the Market
Lodha Developers stepping into Gurugram marks one of the biggest strategic expansions in NCR’s recent history. With a pilot launch planned for 2026, continued land scouting, and a bullish outlook on India’s long-term real estate cycle, the company is entering the region at the perfect moment.
Gurugram’s dominance, strong buyer sentiment, corporate-driven demand, and ongoing infrastructure surge make it the ideal foundation for Lodha’s NCR story.
As the market gears up for this new chapter, all eyes remain on Lodha’s first project and the ripple effects it will create across NCR’s luxury and mid-income segments.
