Real Estate News, Real Estate in India: India’s residential market has continued its downward trend with housing sales in the top nine cities falling by 23 per cent while supply declining by a whopping 34 per cent in the first three months of the current CY i.e. January to March of 2025. According to a report by PropEquity, the housing sales in Q1 2025 stood at 1,05,791 units as compared to 1,36,702 units in the same period last year.
Real Estate Sector, Housing Sales, Property Market
The report by an NSE-listed data analytics firm also showed that except Bengaluru and Delhi-NCR, all 7 cities witnessed a decline in sales. On the other hand, the housing supply stood at 80,774 units in Q1 2025 as compared to 1,22,365 units in the same period last year, marking three consecutive quarters of under 1 lakh units launched. Except for Bengaluru, all 8 cities saw a decline in new supply in the first quarter.
Housing Sales in Bengaluru, Bengaluru Real Estate Market, Real Estate Market in Bengaluru
In Bengaluru, the housing sales increased by 10 per cent to 18,508 units, with the city accounting for 17 per cent of the total sales, rising from 12 per cent in Q1 2024.
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Delhi-NCR Real Estate News, Housing Sales in Delhi-NCR, Real Estate Market in Delhi-NCR
In Delhi-NCR, housing sales rose 10 per cent to 11,221 units with the city accounting for 11 per cent of the total sales, rising from 7 per cent in Q1 2024.
Housing Sales Drops, Drop in Residential Sales, Real Estate Latest News
Sales dropped the most in Hyderabad (47 per cent), followed by Mumbai 36 per cent, Pune 33 per cent, Kolkata 28 per cent, Thane 27 per cent, Navi Mumbai 7 per cent, and Chennai 2 per cent.
The PropEquity report added that the housing supply rose by 17 per cent in Bengaluru to 20,227 units in Q1 2025. The city accounted for 25 per cent of the total launches in Q1 2025, rising from 14 per cent in the same period last year.
“It fell the most in Kolkata at 62% followed by 50% each in Mumbai and Thane, 48% in Pune, 46% in Chennai, 38% in Hyderabad, 24% in Navi Mumbai, and 14% in Delhi-NCR,” the report said.
Commenting on the development, Samir Jasuja, Founder & CEO, PropEquity said, “The housing market is witnessing some correction after three years (2021, 2022, 2023) of record supply because of which absorption/sales is also on a declining trend.
The traditionally high supply markets – Hyderabad, Pune and Thane – continue to decline. These cities had the highest supply among all tier 1 cities for 2 years running 2022 and 2023 before touching a low in 2024.
In this quarter, they cumulatively saw 28,227 units of lesser supply as compared to the same period last year. In fact, the share of the three cities to the total launches has come down from to 29% in Q1 2025 as compared to 38% in the same period last year.”
