Mumbai and Pune Real Estate: Housing Sales Decline by 17% in Q3 2025
Housing sales in the Mumbai Metropolitan Region (MMR) and Pune are expected to decline by 17% YoY in Q3 2025, according to a report by PropEquity. New launches also saw a 5% drop.
Housing SalesReal EstateMmrPunePropequityReal EstateSep 25, 2025
According to the report, the sales share of the Maharashtra region, comprising MMR and Pune, declined to 49% in Q3 2025 from 57% in the same period last year. MMR comprises Mumbai, Navi Mumbai, and Thane.
Mumbai individually reported a sales drop of 8% in Q3 2025, Thane reported a 28% fall in sales, Navi Mumbai reported a 6% fall, and Pune reported a 16% fall in total sales.
On a QoQ basis, housing sales fell 1% in MMR and Pune, with Mumbai and Navi Mumbai registering 18% and 1% rises, respectively. Pune and Navi Mumbai remained flat, while Thane saw an 11% decline.
Housing sales in India’s top 9 cities fell 4% YoY and 1% QoQ to 1.03 lakh units in Q3 2025. The top 9 cities are Bengaluru, Hyderabad, Chennai, Mumbai, Navi Mumbai, Thane, Pune, Kolkata, and Delhi-NCR.
“The reason why we feel that the housing market remains healthy even though the new launches are coming down consecutively is that the sales continue to be higher than the new launches. We anticipate that 2025 will mirror 2024 with approximately 4 lakh unit launches and approximately 4.5 lakh sales, which is marginally lower than the 2024 numbers,” Samir Jasuja, founder and CEO, PropEquity said.
Launches down by 5% in MMR and Pune
According to the report, in Q3 2025, new launches in MMR and Pune cumulatively fell by 5% to 37,196 units from over 39,000 units during the same time last year. While Mumbai (40%) and Thane (28%) saw a decline in new launches, Pune (49%) and Navi Mumbai (12%) saw a rise in Q3 2025 compared to the same period last year.
New launches in the top 9 cities remained flat YoY while falling 10% QoQ in Q3 2025. In H1 2025, close to 1,07,890 units were sold and nearly 85,000 units were launched in Mumbai, Navi Mumbai, Thane, and Pune, the report said.
Frequently Asked Questions
What is the expected decline in housing sales in MMR and Pune for Q3 2025?
Housing sales in the Mumbai Metropolitan Region (MMR) and Pune are expected to decline by at least 17% YoY to 49,542 units sold in Q3 2025 compared to 59,816 during the same time last year.
How did the sales share of the Maharashtra region change in Q3 2025?
The sales share of the Maharashtra region, comprising MMR and Pune, declined to 49% in Q3 2025 from 57% in the same period last year.
What was the percentage change in housing sales for Mumbai, Thane, Navi Mumbai, and Pune in Q3 2025?
Mumbai reported a sales drop of 8%, Thane reported a 28% fall, Navi Mumbai reported a 6% fall, and Pune reported a 16% fall in total sales.
What is the reason behind the healthy housing market despite a decline in new launches?
According to Samir Jasuja, founder and CEO of PropEquity, the housing market remains healthy because sales continue to be higher than new launches.
How did new launches in MMR and Pune perform in Q3 2025 compared to the same period last year?
New launches in MMR and Pune cumulatively fell by 5% to 37,196 units from over 39,000 units during the same time last year.
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