Mumbai and Pune Property Sales Fall 17%: Festive Season Could Revive Market
Housing sales in Mumbai and Pune decreased by 17% in the July-September period, with real estate experts predicting a revival during the festive season.
Real EstateProperty SalesMumbaiPuneFestive SeasonReal EstateOct 02, 2025
Sales stood at 59,816 units in the same period last year. In the primary housing market of Thane in the Mumbai Metropolitan Region (MMR), sales saw a 28% decline to 14,877 units from 20,620 units. In Mumbai city, sales dipped 8% to 9,691 units from 10,480 units, while Navi Mumbai witnessed a 6% fall to 7,212 units from 7,650 units.
In Pune, a key housing market in Maharashtra, housing sales fell 16% to 17,762 units during July-September 2025 from 21,066 units in the corresponding period of the preceding year.
Commenting on the market scenario of MMR, realtors' apex body CREDAI's Mumbai chapter stated that the fall in sales during the September quarter was not a cause for concern. They predict that demand will bounce back during the festive season, which began on September 22.
Sukhraj Nahar, President of CREDAI-MCHI, said, 'While Q3 reflected a period of market recalibration, the demand drivers for housing in MMR and Pune remain extremely robust. Infrastructure upgrades like Metro corridors, coastal roads, and NMIA continue to act as strong long-term catalysts.'
With sales still outpacing new launches in many sub-markets, this phase represents a healthy adjustment rather than a cause for concern, he added. 'Historically, festival quarters in Maharashtra have always revived momentum, and we expect a similar trend this year,' Nahar said.
Rushi Mehta, Secretary of CREDAI-MCHI, noted that the end-user demand is intact. 'Short-term fluctuations are largely due to high base effect and cautious launches. Developers are aligning supply with genuine demand, which will ensure long-term market stability,' he explained.
Nikunj Sanghavi, Treasurer of CREDAI-MCHI, noted that MMR and Pune together still account for nearly half of India's housing market, underlining their dominance. 'Investor confidence remains strong, supported by stable interest rates and regulatory clarity under RERA,' he said.
'We believe the second half of FY25 will see an uptick in absorption, aided by festive demand and policy push towards affordable and mid-segment housing,' Sanghavi said.
According to PropEquity, the housing sales in India's top 9 cities fell 4% YoY (year-on-year) and 1% QoQ (quarter on quarter) to 1,00,370 units in the July-September period. The top 9 cities are Bengaluru, Hyderabad, Chennai, Mumbai, Navi Mumbai, Thane, Pune, Kolkata, and Delhi-NCR.
Frequently Asked Questions
What caused the 17% decline in housing sales in Mumbai and Pune?
The decline is attributed to lower demand amid a sharp surge in residential property prices.
How did sales in Thane, Mumbai city, and Navi Mumbai change?
Thane saw a 28% decline to 14,877 units, Mumbai city saw an 8% dip to 9,691 units, and Navi Mumbai witnessed a 6% fall to 7,212 units.
What is the outlook for the housing market in MMR and Pune during the festive season?
Realtors predict a revival in demand during the festive season, which began on September 22, due to historical trends and strong demand drivers.
What factors are supporting investor confidence in the MMR and Pune housing markets?
Investor confidence is supported by stable interest rates, regulatory clarity under RERA, and infrastructure upgrades like Metro corridors and coastal roads.
How are developers responding to the current market conditions?
Developers are aligning supply with genuine demand and being cautious with new launches, which is expected to ensure long-term market stability.
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