India's Top 9 Cities See Housing Sales Drop Below 1 Lakh Units: Report
India's residential real estate sector is experiencing a slowdown, with housing sales and supply falling in the top 9 cities during Q2 2025. This marks the first time since Q3 2021 that sales have fallen below the 1-lakh-unit mark.
Real EstateHousing SalesMarket TrendsProperty SupplyTop CitiesReal EstateJun 23, 2025
Housing sales fell by 19% to 94,864 units in Q2 2025 as against 116,432 units in the same period last year, while supply fell by 30% to 82,027 units in Q2 2025 as against 117,208 units in the same period last year.
According to the report, housing sales fell in 7 out of the 9 cities with Mumbai and Thane witnessing the sharpest fall at 34% each, while Delhi-NCR at 16% and Chennai at 9% were the only two cities that saw a rise in sales in April-June of 2025.
Similarly, housing supply fell in 6 out of the 9 cities with Mumbai recording the sharpest decline at 61%, while three cities saw a rise in supply, namely Delhi-NCR at 37%, Hyderabad at 19%, and Chennai at 6% in April-June of 2025.
Samir Jasuja, founder and CEO of PropEquity, said, “This is for the first time since Q3 2021 (July-September) that housing sales have fallen below 1 lakh unit mark. Supply, too, has stayed below 1 lakh unit mark for the fourth consecutive quarter. There has been a decline in both sales and supply on Q-o-Q basis in Mumbai, Bengaluru, and Navi Mumbai, as these cities recorded their high in 2023 and 2024, and are now stabilising to their normal pace.”
Delhi-NCR has witnessed the maximum growth in this quarter owing to a rise in supply in Ghaziabad and Greater Noida, Jasuja added. Supply rose by 37% in Delhi-NCR to 13,823 units, a multi-quarter high, while sales increased by 16% to 11,703 units in Q2 2025.
Garvit Tiwari, director and co-founder of Gurugram-based property consulting firm InfraMantra, said, “Delhi-NCR shines with positive growth even as housing sales and supply across top cities fall. This reaffirms the market’s capacity to absorb the current level of stock and its maturity to re-align itself with the prevalent demand-supply scenario.”
Bengaluru, which witnessed the highest supply amongst the top 9 cities in Q1 2025, saw some moderation in Q2. Housing sales declined by 6% to 14,676 units, while supply fell by 13% to 14,243 units.
Umesh Gowda H.A., chairman and founder of Sanjeevini Group, said, “The Bengaluru housing market may be recalibrating and adjusting to the new demand as the market in Q2 saw absorption exceed supply after several quarters of launches exceeding sales. The city continues to be a high-performing market with high end-user demand as corporate activities remain heightened and employment and incomes have seen a steady rise driving residential demand.”
Housing sales in Chennai rose by 9% to 5,354 units in Q2, while supply rose by 6% to 6,463 units. Housing sales in Hyderabad fell by 20% to 11,815 units in Q2, while supply rose by 19% to 10,544 units.
Housing sales in Kolkata fell by 8% to 4,449 units in Q2, while supply fell by 35% to 2,672 units.
Housing supply in Maharashtra, comprising Mumbai, Navi Mumbai, Thane, and Pune, saw a 52% decline, with Mumbai declining by 61%, Thane 58%, Navi Mumbai 56%, and Pune 40%.
Similar trends were seen on the sales front, declining by 29%, with Mumbai and Thane declining by 34% each, Pune 27%, and Navi Mumbai 17%.
Frequently Asked Questions
What is the current state of housing sales in India's top 9 cities?
Housing sales in India’s top-9 cities in Q2 2025 fell below the 1-lakh-unit mark for the first time since Q3 2021, according to a report by PropEquity.
How much did housing sales and supply fall in Q2 2025 compared to the same period last year?
Housing sales fell by 19% to 94,864 units in Q2 2025 as against 116,432 units in the same period last year, while supply fell by 30% to 82,027 units in Q2 2025 as against 117,208 units in the same period last year.
Which cities saw the sharpest decline in housing sales and supply?
Mumbai and Thane witnessed the sharpest fall in housing sales at 34% each, while Mumbai recorded the sharpest decline in supply at 61%.
Which cities saw an increase in housing sales and supply?
Delhi-NCR, Hyderabad, and Chennai saw an increase in both housing sales and supply. Delhi-NCR saw the maximum growth.
What is the outlook for the residential real estate market in the coming quarters?
The market is expected to stabilize to its normal pace, with cities like Bengaluru and Chennai continuing to perform well due to high end-user demand and corporate activities.
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