Housing Sales Decline 14% in Top Indian Cities, but Values Rise 6% in 2025

NEW DELHI: Housing sales across India’s top seven cities recorded a 14% year-on-year decline in 2025, reaching around 3.96 lakh units. This decline is attributed to rising prices, economic uncertainty, and layoffs in the IT sector, according to data from Anarock Research. However, the total value of homes sold during the year rose by 6% to over ₹6 lakh crore, indicating a sustained demand for higher-priced homes.

In comparison, about 4.6 lakh units worth nearly ₹5.68 lakh crore were sold in 2024. The Mumbai Metropolitan Region (MMR) recorded the highest sales volume at around 1.28 lakh units in 2025, though sales declined by 18% from the previous year. Pune followed with about 65,135 units sold, down 20% year-on-year. Together, the two western markets accounted for nearly half of the total residential sales across the top seven cities.

Bengaluru saw a marginal 5% decline in sales at around 62,205 units, while NCR clocked sales of about 57,220 units, an 8% annual decline. Hyderabad recorded one of the sharpest drops, with sales falling 23% to around 44,885 units. Kolkata saw sales of about 16,125 units, down 12%, while Chennai emerged as the only city to register growth, with sales rising 15% to around 22,180 units.

Despite the slowdown in sales volumes, new housing supply remained resilient. New launches across the top seven cities rose 2% year-on-year to about 4.19 lakh units in 2025, compared with 4.13 lakh units in 2024. MMR and Bengaluru together accounted for nearly 48% of the total new supply during the year.

MMR added about 1.26 lakh new units, though launches declined 6% year-on-year, with over 72% of the supply priced below ₹1.5 crore. Bengaluru launched around 74,260 units, a 5% increase, largely concentrated in the ₹75 lakh-₹2.5 crore price bracket. Pune added nearly 67,955 units, up 12% annually, with more than 86% of supply priced under ₹1.5 crore.

NCR saw new launches of about 61,775 units, marking a 14% rise over 2024, with over 55% of supply in the luxury and ultra-luxury segment priced above ₹2.5 crore. Hyderabad added around 43,260 units, down 26% year-on-year, while Chennai and Kolkata saw strong growth in launches at 30% and 31%, respectively.

Across the top seven cities, 37% of new supply in 2025 was priced below ₹75 lakh, while 24% fell in the ₹75 lakh-₹1.5 crore bracket. Homes priced above ₹2.5 crore accounted for about 21% of the total new supply, up from 18% in 2024, underscoring the continued shift towards premium and luxury housing.

Residential prices continued to rise, albeit at a slower pace. Average housing prices across the top seven cities increased 8% annually to about ₹9,260 per sq ft by the end of 2025, compared with ₹8,590 per sq ft a year earlier. Delhi-NCR recorded the sharpest increase at 23%, driven by a higher share of premium launches, while other cities saw single-digit appreciation in the range of 4-9%.

Unsold housing inventory across the top seven cities rose 4% year-on-year to about 5.77 lakh units by the end of 2025, reflecting relatively generous new supply amid slower demand. Bengaluru recorded the steepest increase in unsold stock at 23%. Hyderabad and MMR were the only markets to see a marginal decline in inventory levels, aided by controlled new supply.