Pune: Housing Sales in Top 7 Cities witnessed a 7% quarter-on-quarter decline in Q1 2026, reflecting short-term market pressures, even as annual performance remained resilient with a 9% year-on-year growth, according to ANAROCK Research.
Approximately 1,01,675 units worth over ₹1.51 lakh crore were sold across the top 7 cities in Q1 2026, compared to around 1,08,970 units worth ₹1.60 lakh crore in Q4 2025.
However, Housing Sales in Top 7 Cities improved compared to Q1 2025, when nearly 93,280 units worth ₹1.42 lakh crore were sold.
While the overall sales value declined by 5% on a quarterly basis, it registered a 6% annual increase, indicating underlying strength in Housing Sales in Top 7 Cities despite macroeconomic uncertainties.
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City-Level Trends Highlight Mixed Performance
Housing Sales in Top 7 Cities continued to be led by MMR and Bengaluru, which together accounted for 48% of total sales in Q1 2026.
Chennai, however, recorded the steepest quarterly drop of 18% but also posted the highest annual growth of 31%, highlighting uneven regional trends.
New Launches See Marginal Quarterly Growth, Strong Annual Rise
New launches in Housing Sales in Top 7 Cities rose modestly by 2% quarter-on-quarter to approximately 1,26,265 units in Q1 2026, up from 1,23,835 units in Q4 2025. On a yearly basis, new supply surged 26% compared to over 1,00,020 units in Q1 2025.
MMR and Bengaluru together contributed 51% of total new launches. Hyderabad recorded the highest quarterly growth in supply at 46%, followed by Bengaluru (7%) and MMR (6%). In contrast, Pune, NCR, Chennai, and Kolkata saw a decline in quarterly launches.
Inventory Levels Rise as Supply Outpaces Demand
As new launches begin to outpace sales, Housing Sales in Top 7 Cities reflected a reversal of the post-pandemic trend. Unsold inventory increased by 4% quarter-on-quarter and 7% year-on-year, reaching over 6.01 lakh units by the end of Q1 2026.
Bengaluru saw the highest rise in unsold stock, with a 12% quarterly and 24% annual increase, followed by Hyderabad with a 7% quarterly rise.
Anuj Puri, Chairman – ANAROCK Group, said, “While India’s residential segment’s long-term fundamentals remain strong, the short-term tremors of the Iran War were clearly visible in the first quarter. The 7% dip in sales tracks the war-induced uncertainty, with sentiment and sales clearly affected by surging oil and construction prices – particularly in March. The decline also aligns with large numbers of prospective Middle Eastern homebuyers, who invest significantly in Indian real estate, hitting the pause button under the war cloud.”
He further added, “Another key trend this quarter is that new launches have started outpacing sales, reversing the post-pandemic pattern when sales were usually higher. As a result, unsold inventory has increased 4% quarter-on-quarter and 7% year-on-year, with total stock across the top 7 cities now above 6 lakh units.”
City-Wise New Supply Highlights
Housing Sales in Top 7 Cities saw varied supply dynamics across regions:
- MMR launched approximately 40,015 units, up 6% QoQ, with over 57% in sub-₹1.5 crore segment
- Bengaluru added around 24,370 units, up 7% QoQ, with 75% priced above ₹1.5 crore
- Hyderabad saw the highest surge with 19,280 units, up 46% QoQ, with 74% in premium segment
- NCR witnessed a 17% drop with around 15,985 units launched, 53% priced above ₹2.5 crore
- Pune recorded 16,000 units, down 9% QoQ, with 87% in mid and premium segments
- Chennai and Kolkata saw declines of 28% and 10%, respectively
- Sales Distribution Across Cities
Housing Sales in Top 7 Cities showed that:
- MMR led with approx. 32,800 units sold (down 6% QoQ)
- Bengaluru recorded approx. 16,440 units (down 5%)
- Pune saw approx. 15,300 units (down 10%)
- NCR reported approx. 15,190 units (down 8%)
- Hyderabad remained stable at approx. 12,425 units
- Chennai and Kolkata saw declines of 18% and 8%, respectively
- Price Trends Show Steady Growth
Average property prices in Housing Sales in Top 7 Cities increased by 2% quarter-on-quarter and 7% annually. NCR led annual price growth with over 15%, followed by Bengaluru at 8%, driven largely by rising demand in luxury and ultra-luxury segments.
Housing Sales in Top 7 Cities indicate a temporary slowdown driven by global uncertainties, while long-term demand fundamentals remain intact. The rise in new launches and inventory suggests a shifting market dynamic where supply is beginning to outpace absorption.
