India's Housing sales in Top 9 Cities Drop 4% YoY in Q3 2025

Housing sales in India’s top nine cities fell by 4 percent and consecutive declined for the 10^th quarter, in Q3 (July-September) 2025, settling just above the 1 lakh-unit mark at 1,00,370 units, according to a report by NSE-listed real estate data analytics firm PropEquity.

New launches, however, remained flat, coming in below the 1 lakh mark at 92,229 units declining by 10 percent on Q-o-Q basis.

The top 9 cities are Bengaluru, Chennai, Hyderabad, Mumbai, Navi Mumbai, Pune, Thane, Kolkata and Delhi-NCR.

The Y-o-Y decline in sales across the top 9 cities during Q3 2025 was primarily led by the Maharashtra region - including Mumbai, Navi Mumbai, Thane, and Pune - which experienced a contraction ranging from 6 percent to 28 percent.

Bengaluru, Chennai and Kolkata, however, witnessed a rise of 21 percent, 16 percent and 25 percent respectively in Q3 2025. Delhi-NCR and Hyderabad, too, saw 4 percent YoY each rise in sales in Q3 2025.

On a Q-o-Q basis, sales in top 9 cities fell marginally by 1 percent with only Delhi-NCR (24 percent) and Thane (11 percent) seeing a drop. The other 7 cities witnessed a rise.

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Samir Jasuja, Founder and CEO, PropEquity said, “The reason why we feel that the housing market remains healthy even though the new launches are coming down consecutively is because the sales continue to be higher than the new launches. We anticipate that 2025 will mirror 2024 with approximately 4 lakh unit launches and approximately 4.5 lakh sales, which is marginally lower than the 2024 numbers.”

On the new housing supply front, the report said that new launches in India’s top 9 cities remained flat YoY, remaining below the 1 lakh unit mark, at 92,229 units in Q3 2025.

Jasuja noted, “While the current quarter has seen subdued activity, we anticipate a rebound in the upcoming quarter due to the festive season, which is expected to drive stronger demand, leading to improved launch momentum and a higher absorption level.”

There is a YoY rise in new launches in Chennai, Navi Mumbai, Pune, and Kolkata, and there is a decline in Bengaluru, Hyderabad, Mumbai, Thane, and Delhi-NCR.

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However, new supply fell 10 percent Q-o-Q with a 31 percent decline in Delhi-NCR, followed by 15 percent in Pune and 29 percent in Chennai.

However Hyderabad, Kolkata and Navi Mumbai saw a rise of 14 percent, 24 percent and 6 percent.