Mumbai: ANAROCK Research has projected that nearly 5.40 lakh housing units are scheduled for completion across India’s top seven cities in 2026, but prolonged conflict in the Middle East could significantly challenge developers’ ability to meet delivery timelines due to disruptions in global supply chains, commodity markets, and logistics.
Despite resilient end-user demand and improved project financing conditions, developers are entering a difficult execution phase as uncertainty surrounding international trade routes and rising input costs threatens construction schedules.
According to ANAROCK Research, a record 5,40,400 housing units are expected to be completed in 2026, making it the highest annual delivery target in the past decade.
Dr. Prashant Thakur, Executive Director & Head – Research & Advisory, ANAROCK Group, said, “Latest ANAROCK Research data reveals that a record 5,40,400 housing units are scheduled for completion across the top 7 cities in 2026 – the highest in the last decade.
Of the total scheduled deliveries, the western markets of MMR and Pune collectively account for 57% of homes due for completion this year.”
Among the cities, MMR leads with approximately 2,07,300 units slated for delivery during the year, while Pune is expected to complete around 1,00,300 units in 2026.
In southern India, Bengaluru (69,000 units), Hyderabad (63,700 units), and Chennai (35,600 units) together account for around 1,68,300 homes scheduled for completion. Meanwhile, NCR has only 39,000 units planned for delivery this year, while Kolkata is expected to complete approximately 22,500 units.
Historical Precedent Highlights Risks
According to ANAROCK Research, ambitious housing delivery pipelines have historically been vulnerable to major external disruptions.
Dr. Thakur said, “Historically, ambitious housing supply pipelines have often been vulnerable to external shocks like these. For instance, during the pandemic year of 2020, ANAROCK Research shows that approx. 4.66 lakh homes were scheduled for completion across the top 7 cities.
However, only about 2.14 lakh units, or 46% of the planned pipeline, were ultimately delivered as construction came to a halt due to lockdowns, labour migration, and supply-chain disruptions.”
The report notes that although current construction activity continues uninterrupted and labour availability remains stable, prolonged geopolitical tensions could still create significant pressure through higher energy prices, logistics expenses, and inflation in construction inputs such as steel, aluminium, copper, electrical equipment, and building systems.
Also Read: ANAROCK Capital Projects ₹50 Lakh Crore Investment Need for India Real Estate Sector by 2036
Housing Completions Over the Years
According to ANAROCK Research & Advisory, housing completions across the top seven cities have steadily increased over the past decade:Year Approx. No. of Units Completed/ to be Completed 2017 2,04,200 2018 2,46,140 2019 2,98,450 2020 2,14,370 2021 2,78,650 2022 4,02,000 2023 4,35,000 2024 4,52,000 2025 5,18,900 2026 (Expected completions) 5,40,400
Source: ANAROCK Research & Advisory
MMR, Pune and Bengaluru Face Greater Execution Challenges
Dr. Thakur added, “Cities with the largest completion pipelines – specifically MMR, Pune and Bengaluru – are particularly sensitive to sustained input costs inflation, as developers must maintain delivery schedules and simultaneously manage margin pressures.
The challenges are only partially mitigated by stronger balance sheets and tech-improved project monitoring. Tighter regulatory oversight under RERA demands time-bound delivery. Also, six years ago, it all hinged on a vaccine whose deployment was more predictable than the current situation.”
The report suggests that while developers today have healthier balance sheets and improved project monitoring technologies compared to previous years, compliance requirements under RERA leave limited room for delays.
A Decadal Shift from Sales to Delivery
ANAROCK Research indicates that nearly 30.5 lakh housing units have been delivered across the top seven cities between 2017 and 2025.
If the projected 5,40,400 homes are completed on schedule in 2026, the year will become the strongest housing delivery year in the last decade.
The substantial completion pipeline reflects the surge in residential launches and sales witnessed after the pandemic, with projects launched between 2021 and 2023 now reaching final stages of construction. However, the ongoing conflict in West Asia threatens to disrupt this momentum.
Commenting on the changing priorities of the sector, Dr. Thakur said, “While the industry in the last few years celebrated robust sales, rising prices, and rebooted buyer confidence, the spotlight now is shifting from sales to execution. 2026’s significance therefore extends beyond the sheer number of homes scheduled to be delivered.
We are looking at a forced new evolutionary stage of India’s residential real estate market which will stretch Indian developers’ capabilities to an unprecedented extent.”
He further noted that with efficient execution, 2026 could become a landmark year for housing completions and further strengthen homebuyer confidence.
While future years may be remembered for sales and launches, 2026 is emerging as a defining test of the residential real estate sector’s execution capabilities and maturity.
