India's Top Cities See Housing Sales Drop In Q4 2025

2025-12-24 03:12:30

(MENAFN- Kashmir Observer) · Only Delhi-NCR and Navi Mumbai saw growth in sales and supply on a YoY and QoQ basis.

· On QoQ, sales fell 2% and launches decline by 4%

Srinagar: Housing sales in India's top 9 cities fell to 98,019 units in Q4 2025, registering a 16% YoY decline. This is the lowest quarterly sales recorded since Q3 2021, according to a report by NSE-listed real estate data analytics firm PropEquity.

Except for Navi Mumbai and Delhi-NCR, which saw 13% and 4% growth in sales, respectively, in Q4 2025, all 7 cities saw a decline in sales of up to 31%.

On a QoQ basis, housing sales fell 2% in Q4 2025.

Samir Jasuja, Founder & CEO, PropEquity, said,“Traditionally, the October-December period records strong sales momentum and new launches driven by the festive season. However, the recent decline reflects a shift toward premiumisation in the market, as evidenced by value growth despite a contraction in volumes. This trend has been continuing from 2024.

For instance, in 2023, approximately 4.81 lakh units were launched with a total value of ₹6.3 lakh crore. In contrast, 2024 saw the launch of 4.11 lakh units – around 70,000 fewer units – yet with a higher aggregate value of ₹6.8 lakh crore.

Total Absorption (No. of Units)
	Q4 2024	Q3 2025	Q4 2025	Q-o-Q	Y-o-Y
Bengaluru	15782	16840	15603	-7%	-1%
Chennai	4688	5406	4542	-16%	-3%
Hyderabad	13902	12860	11323	-12%	-19%
Kolkata	4497	4732	3995	-16%	-11%
Mumbai	12223	9691	9135	-6%	-25%
Navi Mumbai	7496	7212	8434	17%	13%
Pune	22940	17762	15788	-11%	-31%
Thane	22817	14877	16987	14%	-26%
Delhi NCR	11792	10990	12212	11%	4%
Total	116137	100370	98019	-2%	-16%

Housing supply fell 10% YoY to 88,427 units in Q4 2025, with only Delhi NCR (29%), Navi Mumbai (15%) and Chennai (9%) recording growth. The other 6 cities saw a decline in supply of up to 30%.

On a QoQ basis, housing supply fell 4% in Q4.

New Supply (No. of Units)
	Q4 2024	Q3 2025	Q4 2025	Q-o-Q	Y-o-Y
Bengaluru	18659	18453	15587	-16%	-16%
Chennai	3161	7708	3455	-55%	9%
Hyderabad	10529	12424	9773	-21%	-7%
Kolkata	4831	4512	3742	-17%	-23%
Mumbai	9068	5820	7643	31%	-16%
Navi Mumbai	6394	6056	7330	21%	15%
Pune	16639	15799	13825	-12%	-17%
Thane	18327	9521	12765	34%	-30%
Delhi NCR	11056	11936	14307	20%	29%
Total	98664	92229	88427	-4%	-10%

On the year ahead, Jasuja said,“The outlook is more positive, supported by a low base in 2025. We remain confident about the market's trajectory. Significant funds raised by developers in 2025 are expected to translate into increased project launches in 2026. The market continues to offer substantial growth potential. Improved transmission by banks of the cumulative 125 bps repo rate reduction could lead to lower home loan rates, further supporting demand. Additionally, the government's proactive stance remains a key positive.”

About PropEquity: P.E. Analytics Ltd, an NSE-listed company, owns and operates PropEquity, which is India's largest online real estate data and analytics platform, covering over 170,000+ projects of 57,000+ developers across over 44 cities in India with more than 17 years of catalogued data. We add approximately 700 projects every month. It is a premium business intelligence product – the first of its kind in India in the realty space.

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