New Delhi, April 5 The average prices of housing in India's top seven markets saw a muted 2% growth in the January-March quarter, compared to the previous quarter, according to Anarock. This growth was slower than expected, due to negative consumer sentiment caused by the West Asia conflict.
Anarock data showed that the average housing prices across the seven major cities rose to Rs 9,456 per square foot in January-March, from Rs 9,260 per square foot in the preceding quarter.
On an annual basis, the prices rose 7% from Rs 8,868 per square foot in January-March 2025.
Anarock tracks the primary housing markets of seven cities – Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata.
Anarock noted that housing sales across these seven cities fell by 7% in terms of volume and 6% in terms of value during January-March 2026, compared to the previous quarter. This helped to keep prices in check.
According to the data, the average housing price in Delhi-NCR increased by 3% in January-March to Rs 9,620 per square foot, from Rs 9,300 per square foot in the preceding quarter. The price also rose by 15% from Rs 8,330 per square foot in the same period last year.
In MMR, the rates grew by 1% to Rs 17,600 during January-March 2026, from Rs 17,350 per square foot in the preceding quarter. On an annual basis, the prices increased by 4% from Rs 16,900 per square foot in January-March 2025.
The average prices in Bengaluru rose by 2% to Rs 9,310 in January-March 2026, from Rs 9,100 per square foot in the preceding quarter. The city saw an 8% annual increase from Rs 8,650 per square foot in January-March 2025.
In Pune, the prices of residential properties rose by 2% to Rs 8,220 in January-March this year, from Rs 8,050 per square foot in the preceding quarter. A 5% increase was recorded from Rs 7,800 per square foot in the January-March period last year.
Hyderabad saw a 2% price appreciation to Rs 7,990 per square foot in January-March this year, from Rs 7,830 per square foot in the preceding quarter. The rates grew by 6% annually from Rs 7,550 per square foot in January-March 2025.
In Chennai, the average housing prices grew by just 1% to Rs 7,165 per square foot during January-March this year, from Rs 7,100 a square foot in the preceding quarter. The rates increased by 4% annually from Rs 6,900 per square foot in the January-March period last year.
The average housing prices in Kolkata went up by 3% in January-March 2026 to Rs 6,290 from Rs 6,120 per square foot in the preceding quarter. The rates grew by 6% annually from Rs 5,950 per square foot in January-March last year.
Anuj Puri, Chairman of Anarock, noted that the "short-term impact of the Iran War was clearly visible in the first quarter." He pointed out that the war-induced uncertainty had affected buying sentiment, particularly in March.
"The decline in sales also reflects the large number of prospective homebuyers from the Middle East, who invest significantly in Indian real estate, and have put their plans on hold due to the war," Puri said.
However, he noted that the long-term outlook for India's housing market remains positive.
According to Anarock data, housing sales rose 9% annually in January-March across the top seven cities, but fell 7% from the previous quarter amid global economic uncertainties.
Sales increased to 1,01,675 units during the January-March period, compared to 93,280 units in the year-ago period.
However, sales fell from 1,08,970 units in the preceding quarter.
During the 2022-24 calendar years, the housing prices rose sharply across major cities, as sales surged due to post-pandemic pent-up demand.
After a sharp rally, the pace of growth subsided from the beginning of the 2025 calendar year.
Mumbai-based Anarock is one of the leading housing brokerage firms in the country. It also provides consultancy services for leasing of commercial (office, retail and warehousing) real estate spaces, land acquisition and fundraising.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Last edited by a moderator: