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Bengaluru leads housing price growth at 14.5% in Q3 2026, Hyderabad and Pune trail
Bengaluru recorded the highest annual housing price growth at 14.5% in Q3 2026, followed by the National Capital Region at 10.6%, according to a new report
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Prices across the country’s top six residential markets rose in the third quarter of 2026, with Bengaluru leading at 14.5% year-on-year (YoY), followed by the National Capital Region (NCR) at 10.6%, Chennai at 10.2% and the Mumbai Metropolitan Region (MMR) at 8.9%. Pune and Hyderabad recorded the slowest growth, at 7.7% and 5.6%, respectively.
After several years of price increases, higher unsold inventory in several cities is limiting further significant hikes, according to a new report by NoBroker.
Bengaluru leads price growth amid tighter supply
Bengaluru recorded the highest price growth among the six cities for the third consecutive quarter, with prices rising 14.5% in Q1, 16% in Q2 and 14.5% in Q3. The average residential price rose to ₹11,293 per sq ft from ₹9,863 a year ago.
Demand increased 14%, while new launches fell 12%, leaving buyers with fewer newly launched homes to choose from and supporting price growth, the report said.
NCR prices rise, but demand remains weak
NCR recorded 10.6% annual price growth, although high property prices continue to weigh on demand. Demand fell 8% in Gurugram, 9% in Noida and 5% across the rest of the region. Noida, which had remained stable in Q2, recorded the sharpest decline.
Within NCR, Faridabad recorded the highest price growth at 15%, followed by Noida at 11% and Gurugram at 8%.
New launches in NCR fell 23% to 7,177 units as developers became more cautious about Gurugram, where high entry prices and premium, large-format projects have put homes beyond the reach of many buyers. Ghaziabad, Noida and Faridabad together accounted for 77% of the region’s launches, while Faridabad was the only NCR market to record demand growth.
The Q3 trend suggests that tighter supply is supporting stronger price growth in Bengaluru, while higher supply and more moderate demand are coinciding with slower growth in Pune and Hyderabad.
Hyderabad and Pune see slower price growth
Hyderabad recorded the slowest price growth among the six cities, with prices rising 5.6% to an average of ₹8,732 per sq ft, close to Pune’s ₹8,622 per sq ft. Growth in Hyderabad slowed from 9% in Q2, returning closer to the 5.1% recorded in Q1.
With a substantial pipeline of large project completions and modest demand growth, price appreciation has remained limited, the report said.
In Pune, prices rose 7.7%, down from 10% in Q2 and 8% in Q1. The city continued to record the lowest average residential price among the six markets. With new launches increasing and demand remaining broadly flat, buyers have more options, keeping price growth moderate.
Pune and MMR likely to see active festive-season launches
Pune and MMR are likely to remain among the most active markets for new supply during the festive season. Project-registration activity in Maharashtra typically increases ahead of major festivals, while launches in both markets recovered sharply in Q3 from the low base recorded in Q3 2025, the NoBroker report said.
In Pune, developers may remain selective about launching new phases, given that demand was broadly flat in Q3.
Bengaluru’s new supply is likely to remain concentrated in North and East Bengaluru, which recorded the strongest launch activity in Q3. Approval activity could improve as the Greater Bengaluru Authority’s new processes become more established, the report noted.
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Hyderabad is likely to focus on completing and selling existing large projects, particularly in West Hyderabad. Launches in Q3 were substantially lower than a year earlier, while demand returned to growth. This suggests developers may continue to pace new launches rather than significantly expand supply in the near term.
Chennai is likely to see a mix of large developments and smaller projects across its major growth corridors. Strong demand growth in Q3, along with continued infrastructure development and employment expansion, is expected to support residential activity. However, the timing of individual large launches could influence quarterly supply figures.
NCR developers shift towards relatively affordable markets
NCR is likely to remain selective about new supply, particularly in higher-priced markets. Noida, Ghaziabad and Faridabad accounted for a larger share of Q3 launches than Gurugram, reflecting a continuing shift towards comparatively more affordable markets.
Demand remains a constraint, while established infrastructure corridors are expected to continue influencing where developers concentrate new projects, the report added.
