Top 9 Indian Cities Likely to See 4% Drop in Housing Sales in Q3 2025
Housing sales in India’s top nine cities are expected to decline by 4% in the July-September quarter, settling just above the 1 lakh-unit mark. New launches, however, are expected to remain flat, touching below the 1 lakh-unit mark.
Housing SalesReal EstatePropequityIndian CitiesQ3 2025Real EstateSep 21, 2025
As per the data, the housing sales across nine cities are estimated to fall 4% to 1,00,370 units during the July-September 2025 as against 1,05,081 units in the year-ago period. The Y-o-Y decline in sales across the top 9 cities during Q3 2025 will primarily be led by the Maharashtra region, including Mumbai, Navi Mumbai, Thane, and Pune, which experienced a contraction in sales ranging from 6% to 28%, the report noted.
PropEquity projected that housing sales in Thane might fall 28% to 14,877 units during July-September from 20,620 units in the year-ago period. In Mumbai, sales are likely to dip 8% to 9,691 units from 10,480 units, while the demand in Navi Mumbai is seen 6% lower to 7,212 units from 7,650 units. Pune market is likely to see a 16% fall in sales to 17,762 units from 21,066 units.
On a more positive note, Bengaluru, Chennai, and Kolkata are likely to witness a rise of 21%, 16%, and 25% respectively in Q3 2025. Delhi-NCR and Hyderabad, too, may see a 4% YoY each rise in sales in Q3 2025. Sales in Bengaluru are estimated to rise 21% to 16,840 units from 13,966 units. Sales in Hyderabad could grow 4% to 12,860 units from 12,311 units. Delhi-NCR market too might see a 4% increase in sales to 10,990 units from 10,539 units.
Real estate data analytics firm PropEquity released data of the primary residential market for July-September, which is generally considered a weak quarter because of the monsoon season and inauspicious Shraadh period. Samir Jasuja, founder and CEO of PropEquity, said, “The reason why we feel that the housing market remains healthy even though the new launches are coming down consecutively is because the sales continue to be higher than the new launches.”
On the new housing supply front, the report said that new launches in India’s top 9 cities are expected to remain flat YoY, remaining below the 1 lakh-unit mark, at 92,229 units in Q3 2025. “While the current quarter has seen subdued activity, we anticipate a rebound in the upcoming quarter due to the festive season, which is expected to drive stronger demand, leading to improved launch momentum and a higher absorption level,” Jasuja said.
Frequently Asked Questions
Which cities are expected to see a decline in housing sales in Q3 2025?
The cities expected to see a decline in housing sales in Q3 2025 are Mumbai, Navi Mumbai, Thane, and Pune, with contractions ranging from 6% to 28%.
What is the expected decline in housing sales in Thane?
Housing sales in Thane are expected to fall 28% to 14,877 units during July-September from 20,620 units in the year-ago period.
Which cities are expected to see an increase in housing sales in Q3 2025?
Bengaluru, Chennai, Kolkata, Delhi-NCR, and Hyderabad are expected to see an increase in housing sales in Q3 2025, with growth rates ranging from 4% to 25%.
What is the expected trend for new housing launches in Q3 2025?
New launches in India’s top 9 cities are expected to remain flat YoY, remaining below the 1 lakh-unit mark, at 92,229 units in Q3 2025.
What factors are expected to drive the housing market in the upcoming quarter?
The festive season is expected to drive stronger demand, leading to improved launch momentum and a higher absorption level in the upcoming quarter.
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