| | FEBRUARY 20269CHRONICLESHOMESCHRONICLESHOMESConversely, the price increase in Mumbai MMR, though it is the most expensive market in India, increased significantly by 4 per cent in 2025 as compared to 18 per cent the previous year. This is an indication of consolidation in the high-end market since price pressure on affordability and high base rates dampened incremental demand. Pune had the lowest growth of 1 percent, as Chennai prices did not change year on year following a robust increase of 16 per cent last year. Delhi NCR and Kolkata recorded 6 per cent growth each, indicating the apprehensive but selective demand in well-established micro-markets, and Ahmedabad reported a calculated 8 per cent growth garnered by infrastructure-based growth and growing industrialization. "Infrastructure-led growth corridors like the Yamuna Expressway and Navi Mumbai region gained prominence, boosting residential demand in previously under-served markets." - Manoj Gaur, CMD, Gaurs Group Market commentary Commenting on the trends, Onkar Shetye, Executive Director of Aurum PropTech, said: "Mumbai MMR price trends through 2025 reflect price consolidation in the region's premium market, while that of Pune and Ahmedabad remains broadly stable. Delhi NCR and Kolkata also saw measured price increases amid selective demand. Bengaluru and Hyderabad showed steady end-user demand and balanced absorption." This review is indicative of a wider market fact: though speculative momentum has dried, structurally sound cities where employment-based housing demand is high are still performing well. Key drivers shaping the 2026 outlook End-user-driven demand replacing investor-led cycles The demand in the housing sector is becoming more end-users driven in the major cities, especially in Bengaluru, Hyderabad, and a few micro-markets of the NCR. Customers are also focusing on ready to move or near completed residential properties, improved developer balance sheets and those with better infrastructure connectivity and amenities. Source: PropTiger.com ­ Real Insight Residential CY 2025
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