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India Housing Sales Dip Below 100K Mark
30 Mar
Summary
- Housing sales in India's top nine cities fell below 100,000 units.
- New project launches saw a significant annual decline of 19% as a key factor.
- Bengaluru emerged as the top market, surpassing others in sales and supply.
India's residential property market has entered a phase of moderation, with housing sales across the top nine cities falling below 100,000 units for the first time in over four years as of the first quarter of 2026. This decline, marked by a 13% year-on-year drop to 98,761 units, is primarily attributed to a significant 19% reduction in new project launches compared to the previous year.
Bengaluru has emerged as the leading market, achieving the highest sales and supply volumes for the first time. The city recorded 17,991 unit sales and 17,782 new launches, bolstered by robust demand from the technology sector. Meanwhile, Delhi-NCR saw a 13% year-on-year sales increase, though a surge in premium and luxury segment launches has tempered overall absorption.
Most other major housing markets experienced sales declines, including Mumbai (down 20%), Pune (down 25%), and Hyderabad (down 16%). This market shift suggests potential challenges for prospective homebuyers, including limited inventory, especially in affordable segments, and a growing trend towards premiumisation by developers. Interest rates remain a critical factor influencing future demand and affordability.
