January-March Housing Sales Fall 13% Across Major Indian Cities

Housing Sales Decline 13% Across Nine Major Indian Cities​

New Delhi, March 30 – Housing sales across nine major Indian cities – Delhi-NCR, Mumbai, Navi Mumbai, Thane, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata – experienced a significant downturn in the first quarter of 2026, falling 13 per cent annually to 98,761 units, according to PropEquity. This marks the first time in 18 quarters that sales have fallen below the 1 lakh units mark.

Sales Decline and Market Trends​

The total sales in these nine cities decreased by 6 per cent from 1,05,527 units recorded in the previous quarter (October-December 2025). New supply also saw a notable decrease, declining 19 per cent to 92,411 units compared to 1,14,718 units in the same period last year. New project launches dipped 8 per cent from the previous quarter’s supply of 1,00,525 units.
PropEquity Founder & CEO Samir Jasuja attributed the slowdown to low inventory supply across most cities. He noted that close to 22,000 fewer units were supplied in the first quarter of 2026 compared to the same period last year.
Here's a breakdown of sales performance by city:

Regional Highlights​

Bengaluru emerged as an outlier, experiencing a 3 per cent increase in sales to 17,991 units. Delhi-NCR also saw an increase in sales, rising 13 per cent to 12,141 units. Conversely, Chennai witnessed a 4 per cent decline in sales to 4,765 units, while Hyderabad experienced a 16 per cent drop to 11,546 units. Mumbai, Navi Mumbai, and Thane all saw significant declines in sales, with Mumbai experiencing the most substantial drop of 20 per cent. Pune recorded a 25 per cent decrease in sales, and Kolkata saw an 8 per cent decline.
Industry experts attribute the sales decline to the ongoing West Asia conflict and its impact on buyer sentiment. Bengaluru's continued dominance as the highest-selling housing market is attributed to its strong fundamentals, including a thriving tech ecosystem, steady job creation, and sustained demand from both end-users and investors. Sanjeevini Group Chairman and Founder Umesh Gowda H A highlighted developers’ prudent and market-responsive pricing strategies in the IT city.
PropEquity, part of P E Analytics Ltd, tracks over 1,80,000 projects by 60,000+ developers across 50+ cities, providing data primarily to institutional investors, banks, NBFCs, private equity funds, and real estate developers.