Housing Sales Slump 12% in Top Seven Cities; Pune and Chennai Show Resilience

India, Oct. 29 -- The real estate market in India's top seven cities has seen a significant slowdown in the first nine months of 2025, with housing sales dropping by 12%. Despite this, cities like Pune and Chennai have shown resilience, recording strong growth in launched units.

Q3 2025 brought 70,915 new homes to the market, bringing the total to 225,001 units for the first nine months. This represents a marginal 1% decline compared to the same period last year. Kolkata, Chennai, Pune, and Bengaluru have all recorded strong annual growth in launched units, according to the latest report.

Home prices in India's seven major cities continued their upward trend in Q3 2025, with annual increases ranging from 6% to 16%. Kolkata led the pack with a 16% growth in home prices, followed by Chennai at 14%. Delhi NCR and Bengaluru both saw 13% growth, while other cities also experienced notable increases.

The primary drivers behind the sustained price increases include developers' focus on higher-margin premium developments, elevated construction costs, and sustained buyer demand. These factors have collectively contributed to the broad-based price appreciation across the major cities.

While the overall market has slowed, the resilience shown by cities like Pune and Chennai offers a glimmer of hope for the real estate sector. Pune, in particular, has seen a robust increase in the number of new units launched, reflecting a strong market confidence in the region.

For potential homebuyers, the current market conditions present a mixed bag. On one hand, the rising prices may deter some buyers, but on the other, the availability of new units and the continued growth in certain cities provide opportunities for those looking to enter the market.

Redditors have been debating the current state of India's property market, with many suggesting that buyers should purchase if they need a home rather than waiting for a market crash. The prevailing sentiment is that the market will continue to be driven by demand, especially in cities with strong economic fundamentals.

In conclusion, while the overall trend in housing sales has been downward, the real estate market in India remains dynamic. Cities like Pune and Chennai are setting a positive example, and the continued growth in launched units and home prices suggests that the sector is still capable of delivering value to both buyers and developers.