Mar 30: Housing sales across India’s top nine cities declined in Q1 (January–March) 2026, falling below the 1 lakh unit mark for the first time in 18 quarters, primarily due to reduced supply across major markets, according to PropEquity.
The report highlights that housing sales dropped by 13% year-on-year (YoY) and 6% quarter-on-quarter (QoQ) to 98,761 units, while new launches declined by 19% YoY and 8% QoQ to 92,411 units during the quarter.
Among key markets, Bengaluru emerged as the top-performing city with 17,991 units sold, registering 16% QoQ growth and 3% YoY growth. Delhi-NCR followed with 12,141 units, recording a 13% YoY increase, though sales declined marginally by 1% QoQ.
Most other cities witnessed a decline in housing absorption, including:
- Mumbai (down 20% YoY)
- Pune (down 25% YoY)
- Thane (down 24% YoY)
- Hyderabad (down 16% YoY)
- Kolkata (down 8% YoY)
- Chennai (down 4% YoY)
Commenting on the trend, Samir Jasuja, Founder & CEO of PropEquity, said,
“Housing sales continued to moderate in the first quarter of 2026 with Delhi-NCR and Bengaluru emerging as outliers. This decline is largely due to reduced supply, with nearly 22,000 fewer units launched compared to the same period last year.”
On the supply side, Delhi-NCR stood out as the only market to register growth, with 17,227 units launched, marking an 89% YoY increase and 8% QoQ growth, making it the second-largest market in terms of new supply. Meanwhile, Bengaluru regained the top position in launches with 17,782 units, despite a 24% YoY decline.
Cities such as Pune, Hyderabad, Thane, Mumbai, and Navi Mumbai recorded significant declines in new launches, reflecting a broader slowdown in supply across markets.
Jasuja further added,
“While Delhi-NCR and Bengaluru witnessed similar levels of supply, Delhi-NCR saw comparatively lower absorption due to high-ticket launches. Notably, for the first time post-COVID, Delhi-NCR recorded higher supply than traditionally strong markets like Pune, Hyderabad, and Thane.”
The report indicates a clear trend of supply-led moderation in housing sales, even as select markets continue to demonstrate resilience. Industry experts believe that future recovery will depend on balanced supply, pricing strategies, and sustained buyer demand across segments.
