Housing Sales in MMR and Pune Drop 30% Amid Price Surge
Housing sales in the Mumbai Metropolitan Region (MMR) and Pune have declined by 30% to 41,901 units in the April-June period of 2023, primarily due to a significant increase in property prices. This drop is part of a broader trend affecting India's primary residential markets.
Housing SalesReal EstateMmrPuneProperty PricesReal Estate PuneJul 14, 2025
On Monday, housing brokerage firm PropTiger released the data, which showed that sales in India's eight primary residential markets fell by 14% to 97,674 units during April-June this year, from 113,768 units in the corresponding period of the preceding year. Sridhar Srinivasan, Head of Sales at PropTiger.com, commented that the short-term dip in home sales and new launches is more of a recalibration than a sign of waning demand. He noted that affordability pressures, particularly in the budget and mid-income segments, have led to some cautious buyer sentiment. However, Srinivasan emphasized that the underlying demand remains intact.
The housing sales in MMR alone declined by 32% to 25,939 units, from 38,266 units in the previous year. Pune saw a 27% fall in sales to 15,962 units, from 21,925 units. In Ahmedabad, housing sales fell by 1% to 9,451 units, from 9,500 units. Delhi-NCR experienced a 9% drop in sales to 10,051 units, from 11,065 units, while Hyderabad witnessed a 6% decline to 11,513 units from 12,296 units.
However, there were some positive trends in other cities. Sales in Bengaluru increased by 16% to 15,628 units, from 13,495 units. Housing sales in Chennai also rose by 33% to 5,283 units, from 3,984 units. Sales of residential properties in Kolkata increased by 19% to 3,847 units in April-June this year, from 3,237 units in the year-ago period.
The data pertains to the primary housing markets of these eight cities. Delhi-NCR includes Gurugram, Noida, Greater Noida, Ghaziabad, and Faridabad. The MMR market includes Mumbai, Navi Mumbai, and Thane. PropTiger is part of REA India, which owns Housing.com, a leading real estate classifieds platform.
Despite the overall decline in sales, the real estate market continues to show resilience. The increase in property prices, while challenging for buyers, reflects a strong underlying demand for housing. Developers and policymakers are now focusing on strategies to address affordability issues and maintain market stability.
Frequently Asked Questions
What caused the decline in housing sales in MMR and Pune?
The decline in housing sales in MMR and Pune is primarily due to a significant increase in property prices, which has made it more difficult for buyers, especially in the budget and mid-income segments, to afford homes.
Which cities saw an increase in housing sales?
Bengaluru, Chennai, and Kolkata saw an increase in housing sales. Bengaluru's sales increased by 16%, Chennai's by 33%, and Kolkata's by 19%.
How significant was the overall decline in India's primary residential markets?
India's primary residential markets experienced a 14% decline in housing sales, with sales falling to 97,674 units during April-June 2023 from 113,768 units in the same period last year.
What is the MMR market, and which cities does it include?
The MMR market, or Mumbai Metropolitan Region, includes Mumbai, Navi Mumbai, and Thane. It is one of the most important property markets in Maharashtra.
What is PropTiger's role in the real estate market?
PropTiger is a housing brokerage firm that is part of REA India, which owns Housing.com, a leading real estate classifieds platform. PropTiger provides data and insights into the real estate market to help buyers and sellers make informed decisions.
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