Housing Sales Dip 9% Year-Over-Year in Top 7 Cities During Q3 2025
Despite a 9% decline in housing sales volume in Q3 2025 compared to the same period in 2024, the total sales value increased by 14%, driven by the luxury segment. The market remains steady, with expectations for a festive boost.
Housing SalesReal EstateLuxury SegmentMarket HealthResidential PricesReal Estate NewsSep 26, 2025
According to Anarock data, in 2023 and 2024, over 100,000 units were sold each quarter. However, in 2025, the sales have been lower: 93,280 units were sold in January-March, 96,285 units in April-June, and 97,080 units in the current quarter. This trend signals some distress in the sector.
Despite the dip in overall sales volume, the total sales value rose by 14%—from Rs 1.33 lakh crore in Q3 2024 to Rs 1.52 lakh crore in Q3 2025. This suggests a high volume of sales in the luxury and ultra-luxury segments.
“Sales continued to outstrip new supply in the quarter, reflecting continued market health,” said Anuj Puri, chairman of Anarock Group.
Among the top 7 cities, MMR (Mumbai Metropolitan Region) recorded the highest sales of 30,260 units, followed by Pune with 16,620 units. Cumulatively, the two western cities accounted for 48% of the total sales in the top 7 cities in Q3 2025. All top cities individually recorded a dip in yearly housing sales, except Chennai and Kolkata, which saw 33% and 4% yearly jumps, respectively.
These cities saw a marginal 3% increase in new housing supply, with 96,690 units launched in Q3 2025 against 93,750 units in the corresponding period in 2024.
In terms of budget segments, the Rs 1.5 crore and above housing category witnessed the highest new supply of 38%, followed by the premium (Rs 80 lakh – Rs 1.5 crore) segment with a 24% share. The mid-segment (Rs 40–80 lakh) contributed a 23% share of the total new supply in the quarter, while the affordable segment's share was the lowest at 16%.
Available housing inventory saw only a marginal yearly decline in the top 7 cities—from 5,64,415 lakh units by Q3 2024-end to 5,61,756 lakh units by Q3 2025-end.
Average residential prices in these cities collectively saw single-digit growth of 9% in Q3 2025 against Q3 2024. At 24%, NCR (National Capital Region) recorded the highest annual growth, followed by Bengaluru with a 10% increase.
Interestingly, despite the monsoons and the perceived inauspicious ‘shraad’ period, housing sales in Q3 rose 1% quarterly.
Overall, the housing market is so far reasonably steady in 2025, with expectations for a festive boost ahead. Developers have several projects lined up to capitalize on this period.
“The impact, if any, of the new H1-B visa norms announced by the US on the Indian residential market bears close monitoring. While housing affordability remains a challenge across cities for many buyers, price growth has tapered down moderately compared to the previous few years, when we saw double-digit yearly growth in the top 7 cities,” said Puri.
Frequently Asked Questions
What is the expected dip in housing sales in the top 7 cities during Q3 2025 compared to Q3 2024?
The expected dip in housing sales in the top 7 cities during Q3 2025 compared to Q3 2024 is 9%.
How did the total sales value change from Q3 2024 to Q3 2025?
The total sales value increased by 14%, from Rs 1.33 lakh crore in Q3 2024 to Rs 1.52 lakh crore in Q3 2025.
Which cities saw an increase in housing sales year-over-year?
Chennai and Kolkata saw an increase in housing sales year-over-year, with 33% and 4% jumps, respectively.
What is the highest new supply category in terms of budget segments?
The Rs 1.5 crore and above housing category witnessed the highest new supply of 38%.
What is the expected impact of the new H1-B visa norms on the Indian residential market?
The impact of the new H1-B visa norms on the Indian residential market needs close monitoring, as it may affect housing affordability and sales.
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