Top Indian Cities Witness 10th Consecutive Quarterly Drop in Housing Sales
India's leading cities, particularly Mumbai, Navi Mumbai, and Thane, have seen a 4% year-on-year decline in housing sales during the July-September quarter of 2025, marking the 10th consecutive quarterly drop. However, southern cities like Bengaluru and Chennai have reported gains.
Housing SalesReal EstatePropequityIndian CitiesMarket TrendsReal Estate MumbaiSep 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 is the current state of housing sales in India's top cities?
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 drop.
Which cities are leading the decline in housing sales?
Mumbai, Navi Mumbai, Thane, and Pune are the cities leading the decline in housing sales, with YoY contractions ranging between 6% and 28%.
Are there any cities showing gains in housing sales?
Yes, southern cities like Bengaluru and Chennai, and eastern city Kolkata, have reported gains in housing sales. Bengaluru saw a 21% increase, Chennai a 16% rise, and Kolkata a 25% jump.
What is the outlook for the Indian housing market in the coming quarter?
PropEquity CEO Samir Jasuja is optimistic about the upcoming festive season demand, predicting that it will boost demand and support stronger launches and absorption levels.
How has the new housing supply fared in these cities?
New housing supply remained flat in top cities, with Bengaluru accounting for nearly one-fifth of new launches despite a 10% decline.
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