NEW DELHI, May 16: Housing sales in January-March fell 2 per cent annually to nearly 96,000 units across eight major cities amid slowdown in demand and less fresh supply of low-cost homes, according to PropTiger.
On Saturday, real estate consultant PropTiger, which has recently been acquired by listed entity Aurum PropTech Ltd, released ‘Real INSIGHT – Residential Q1 2026’ report that tracks eight key cities — Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, MMR (Mumbai, Navi Mumbai and Thane) and Pune.
As per the data, the sales of residential properties declined 2 per cent to 95,973 units during January-March 2026 from 98,095 units in the year-ago period across these eight major cities.
New supply remained flat at 93,065 units during the first quarter of 2026 calendar year from 93,144 units in the year-ago period.
“The Indian residential market has transitioned into a structurally more disciplined phase. Growth today is increasingly being driven by demand quality, inventory discipline, and buyer confidence rather than speculative expansion,” said Prakash Tejwani, CEO of PropTiger.
Among cities, the sales in Bengaluru rose 33 per cent to 15,603 units in January-March from 11,731 units in the year-ago period.
In Chennai, the sales increased to 6,841 units from 4,774 units.
Hyderabad saw an increase of 25 per cent to 13,297 units from 10,647 units.
Sales of residential properties in Delhi-NCR grew 11 per cent to 9,447 units from 8,77 units.
However, the sales dropped in Mumbai Metropolitan Region (MMR) 15 per cent to 26,116 units from 30,705 units.
In Pune, the sales declined 21 per cent to 13,565 units from 17,228 units.
Kolkata witnessed a 24 per cent decline in sales to 2,883 units from 3,803 units.
Lastly, the housing sales in Ahmedabad dipped 23 per cent to 8,221 units during January-March this year from 10,730 units in the year-ago period.
PropTiger mentioned that all eight major cities registered positive year-on-year price appreciation. Unsold inventory levels remained broadly balanced.
With new supply additions closely aligned with sales absorption, there was no meaningful build-up of unsold stock, it added.
The consultant noted that the Bengaluru city has emerged as Q1 2026’s standout performer, recording 15,603 unit sales – up 33 per cent year-on-year and 12 per cent sequentially. Bengaluru city also maintained near-parity between new supply (15,806 units) and sales absorption, indicating a well-balanced market.
The GCC (Global Capability Centre) and startup employment engine continues to prove more durable than conventional IT hiring cycles, providing Bengaluru with a structurally differentiated demand base, PropTiger stated.
Commenting on the sales data, Navin Dhanuka, Director of ArisUnitern RE Solutions said, “Bengaluru’s mid-segment housing is maturing. The city’s professional class isn’t just buying homes anymore, they’re making long-term bets on Bengaluru’s global relevance.”
Bharat Kumar Kandukuri, Director of Sumadhura Group, said Bengaluru continues to witness strong demand, driven by employment opportunities, improving social infrastructure, and evolving lifestyle aspirations.
Plotted development is gaining strong traction in Bengaluru, driven by demand for flexibility, long-term value creation, and the ability to design personalised homes within well-planned communities, he added.
Bengaluru-based Sanjeevini Group Chairman and Founder, Umesh Gowda H.A. said the market is expanding on healthy fundamentals rather than speculative activity.
“The continued expansion of GCCs, startups, deep-tech companies and global innovation centres is creating a more diversified and resilient employment ecosystem, which is translating into sustained residential demand across key micro-markets,” Gowda said.
Lalit Parihar, MD of Aaiji Group, a Dholera-based developer, noted that Ahmedabad housing market continues to be affordable compared to other big cities. (PTI)
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