New Delhi, April 7 Housing sales fell by 4% year-on-year in the January-March quarter to 84,827 units across eight major cities, driven by high property prices and market uncertainty stemming from the West Asia conflict, according to Knight Frank.
Housing sales stood at 88,361 units in the January-March period last year.
Sales of residential properties declined in Mumbai, Delhi-NCR, and Pune, but increased in the other five cities – Bengaluru, Hyderabad, Chennai, Ahmedabad, and Kolkata.
According to Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, the moderation in residential demand warrants closer attention, particularly as it follows a sustained multi-year upcycle.
"While this phase can be partly attributed to a natural consolidation after strong growth, the continued rise in prices alongside softening volumes indicates growing pressure on affordability and absorption," he said.
At the same time, Baijal said the volatile geopolitical situation has also resulted in subdued interest in residential demand.
According to the data, housing sales in Mumbai fell by 7% in January-March to 23,185 units as compared to the year-ago period.
In Delhi-NCR, the sales fell by 11% year-on-year to 12,734 units in the first quarter of this calendar year.
Pune witnessed an annual fall of 11% to 12,711 units.
However, the sales of residential properties in Bengaluru rose by 5% year-on-year to 13,092 units in January-March. Hyderabad saw an annual growth of 1% to 9,541 units, while Chennai witnessed a 9% rise to 4,763 units.
In Ahmedabad, sales grew by 2% to 4,758 units.
Finally, the housing sales in Kolkata went up by 5% to 4,043 units in January-March this year as compared to the same period of 2025.
According to Knight Frank data, the new supply also fell by 2% year-on-year to 94,855 units in January-March.
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