Home Sales Fall 6% in Top 9 Cities; Pune, Chennai Hit Hard
Home sales across nine major Indian cities fell 6% in the July-September quarter, with Pune, Chennai and Kolkata recording steep declines, while Hyderabad and Navi Mumbai bucked the trend.
India’s housing market hit a speed bump in the July-September quarter, with home sales across nine major cities falling 6% year-on-year. According to PropEquity data, around 1,03,170 housing units were sold during the quarter, compared with 1,09,420 units in the same period last year.
Pune, Chennai and Kolkata recorded some of the sharpest declines. Pune saw sales fall 16% to 17,860 units, while Chennai and Kolkata both reported a 17% drop. Delhi-NCR and Thane also recorded declines of 12% and 11%, respectively. Mumbai saw sales fall 8%.
Not every market slowed down. Hyderabad recorded an 11% rise in sales to 15,470 units, while Navi Mumbai saw a 12% increase to 9,810 units. Bengaluru remained largely stable, with sales rising 1% to 17,340 units.
New housing supply also declined around 2%, with developers launching 98,165 units compared with 1,00,330 units a year earlier.
The July-September quarter is traditionally softer for real estate, partly due to monsoon disruptions and slower construction activity. Developers typically increase launches, offers and incentives during the December quarter as festive demand picks up.
Despite the latest decline, housing sales and new supply across major Tier-1 cities remain close to the one-lakh-unit mark each quarter, indicating that demand has slowed but has not disappeared.
