Top Indian Cities Witness 10th Consecutive Drop in Housing Sales
India's leading nine cities have seen a 4% year-on-year decline in housing sales during the July-September quarter of 2025, marking the 10th consecutive quarterly decline. Mumbai, Navi Mumbai, and Thane lead the YoY declines, while southern cities like Bengaluru and Chennai report gains.
Housing MarketReal EstatePropequityMumbaiBengaluruReal Estate NewsSep 21, 2025
The number of new housing launches remained unchanged during this period at 92,229 units, a 10% drop from the previous quarter. The decline in sales was mainly driven by Maharashtra's Mumbai, Navi Mumbai, Thane, and Pune markets, where YoY contractions ranged between 6% and 28% YoY. Pune recorded sales of 17,762 units but witnessed a significant drop of 16% compared to last year's 21,066 units.
Unlike some northern counterparts, cities such as Bengaluru and Chennai in the south, and Kolkata in the east, witnessed a surge in housing sales. Bengaluru recorded an impressive 21% increase with 16,840 units sold, while Chennai saw a 16% rise to 5,406 units. Kolkata also witnessed a remarkable jump of 25%, selling 4,732 units during this period. Delhi-NCR and Hyderabad too saw modest YoY gains of 4% each.
On a quarterly basis, sales across the nine cities saw a slight dip of 1%. Delhi-NCR witnessed the steepest fall at 24%, while Thane saw an 11% decline. Other markets like Bengaluru, Hyderabad, and Mumbai reported increases. New housing supply remained flat in top cities, with Bengaluru accounting for nearly one-fifth of new launches despite a 10% decline.
Samir Jasuja, the founder and CEO of PropEquity, believes that despite a decline in new launches, the housing market remains healthy as sales continue to outpace them. He predicts that 2025 will be similar to 2024, with around four lakh unit launches and approximately 4.5 lakh sales. Jasuja also expects the festive season to boost demand, supporting stronger launches and absorption levels in the coming quarter.
Frequently Asked Questions
What cities are included in the PropEquity data?
The data includes the leading nine cities in India, which are Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Chennai, Kolkata, Delhi-NCR, and Hyderabad.
What was the overall decline in housing sales for the July-September quarter of 2025?
The overall year-on-year (YoY) decline in housing sales for the July-September quarter of 2025 was 4%.
Which cities saw the most significant decline in housing sales?
Mumbai, Navi Mumbai, Thane, and Pune saw the most significant declines in housing sales, with contractions ranging from 6% to 28% YoY.
Which cities reported gains in housing sales?
Bengaluru, Chennai, Kolkata, Delhi-NCR, and Hyderabad reported gains in housing sales. Bengaluru saw a 21% increase, Chennai a 16% increase, Kolkata a 25% increase, and Delhi-NCR and Hyderabad each saw a 4% increase.
What does PropEquity's CEO predict for the housing market in the coming quarter?
PropEquity's CEO, Samir Jasuja, predicts that the festive season will boost demand, supporting stronger launches and absorption levels in the coming quarter. He also expects around four lakh unit launches and approximately 4.5 lakh sales in 2025, similar to 2024.
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