Residential property sales in the country’s top seven markets fell for the fourth quarter in a row in April-June, recording a 20% decline year-on-year, primarily due to rising prices, according to a report released on Thursday.
The India-Pakistan conflict after the Pahalgam terrorist attack also contributed to the weak demand scenario, the report said. Residential sales declined to about 96,285 units in the April-June quarter as against nearly 1,20,335 units in the year-ago period, Anarock Property Consultants said in its report. However, housing sales rose 3% sequentially. Housing sales had fallen 28% year-on-year (y-o-y) in January-March 2025. The last time housing sales grew was in April-June 2024.
Hyderabad and Pune saw the highest fall in sales at 27% in April-June 2025, while Mumbai Metropolitan Region (MMR) saw a 25% drop in sales. Delhi-NCR saw a drop of 14%, Kolkata 23% and Bengaluru 8%, the report said.
Chennai was the only city to see a year-on-year rise (11%) in housing sales in April-June 2025 — from nearly 5,100 units to about 5,660 units — Anarock said. Sequentially, housing sales in Chennai jumped 40%.
According to the report, MMR and Pune together accounted for over 48% – nearly 46,685 units – of total sales in the top seven cities.
Average residential prices rose 11% y-o-y. Sequentially, the increase was a meagre 1%, it said. Delhi-NCR led the pack with a 27% surge y-o-y, followed by Bengaluru (12%).
New launches fell by 16% y-o-y — from nearly 117,165 units in Q2 2024 to about 98,625 units in Q2 2025. MMR witnessed a 36% y-o-y decline in new launches. Delhi-NCR witnessed a 10% y-o-y jump in new supply.
“The second quarter of 2025 was a roller coaster for the Indian housing market, rocked by major military actions at home and abroad. The war-like climate pushed homebuyers into wait-and-watch mode, compounding the impact of soaring property prices over the past two years,” said Anuj Puri, chairman, Anarock.
With tensions easing and the RBI’s repo rate cut injecting fresh optimism, buyer sentiment is rebounding, Puri added. “If prices remain in check, expect housing sales across major cities to accelerate in the coming quarters,” he said.
Sanjay Dutt, managing director and CEO at Tata Realty & Infrastructure, said new realty launches were low due to reasons such as peak prices in some cities, markets exhausting client base, and pending judicial scrutiny of the issue of environmental clearance.