Mumbai and Pune Housing Sales Decline by 17% in Q3 2025
Housing sales in Mumbai and Pune experienced a significant 17% drop in the July-September period, reflecting a slowdown in demand amid rising property prices. Real estate experts remain optimistic about a rebound during the festive season.
Housing SalesReal EstateMmrPunePropequityReal Estate PuneOct 02, 2025
In the primary housing market of Thane, a key area in the Mumbai Metropolitan Region (MMR), sales plummeted by 28% to 14,877 units from 20,620 units. In Mumbai city, sales decreased by 8% to 9,691 units from 10,480 units, while Navi Mumbai saw a 6% drop to 7,212 units from 7,650 units.
Pune, another significant housing market in Maharashtra, experienced a 16% decline in sales, with 17,762 units sold in July-September 2025, compared to 21,066 units in the same period the previous year.
Commenting on the market scenario in MMR, the Confederation of Real Estate Developers' Associations of India (CREDAI) Mumbai chapter stated that the fall in sales during the September quarter is not a cause for concern. They expect the demand to rebound during the festive season, which traditionally starts from September 22.
Sukhraj Nahar, President of CREDAI-MCHI, highlighted that the demand drivers for housing in MMR and Pune remain robust. Infrastructure upgrades, such as Metro corridors, coastal roads, and the New Multi-Modal Integrated Authority (NMIA), continue to act as strong long-term catalysts.
Rushi Mehta, Secretary of CREDAI-MCHI, noted that the end-user demand remains intact. The short-term fluctuations are largely due to a high base effect and cautious launches. Developers are aligning supply with genuine demand, which will ensure long-term market stability.
Nikunj Sanghavi, Treasurer of CREDAI-MCHI, emphasized that MMR and Pune together account for nearly half of India's housing market, underscoring their dominance. Investor confidence remains strong, supported by stable interest rates and regulatory clarity under the Real Estate (Regulation and Development) Act (RERA).
The second half of the fiscal year 2025 is expected to see an uptick in absorption, aided by festive demand and policy push towards affordable and mid-segment housing, according to Sanghavi.
According to PropEquity, the housing sales in India's top 9 cities fell by 4% year-on-year (YoY) and 1% quarter-on-quarter (QoQ) to 1,00,370 units in the July-September period. The top 9 cities include Bengaluru, Hyderabad, Chennai, Mumbai, Navi Mumbai, Thane, Pune, Kolkata, and Delhi-NCR.
Frequently Asked Questions
What is the percentage drop in housing sales in Mumbai and Pune in July-September 2025?
Housing sales in Mumbai and Pune fell by 17% in July-September 2025, dropping to 49,542 units from 59,816 units in the same period last year.
Which areas in the Mumbai Metropolitan Region (MMR) saw the most significant decline in housing sales?
Thane, a key area in MMR, saw the most significant decline in housing sales, with a 28% drop to 14,877 units from 20,620 units.
Why are real estate experts not concerned about the decline in sales?
Real estate experts are not concerned because they expect a rebound in demand during the festive season, which traditionally starts from September 22. They also note that the demand drivers for housing remain robust, supported by infrastructure upgrades and regulatory clarity.
What factors are expected to boost housing sales in the second half of FY25?
The second half of FY25 is expected to see an uptick in housing sales, aided by festive demand and policy push towards affordable and mid-segment housing, along with stable interest rates and regulatory clarity under RERA.
How did the top 9 cities in India perform in terms of housing sales in July-September 2025?
Housing sales in India's top 9 cities fell by 4% year-on-year (YoY) and 1% quarter-on-quarter (QoQ) to 1,00,370 units in the July-September period.
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