Housing sales across India’s top nine cities stood at 1.03 lakh units in Q3 2026, declining 6% year-on-year (YoY) and 4% quarter-on-quarter (QoQ) amid muted demand and a decline in new supply, according to an analysis by NSE-listed real estate data analytics firm PropEquity. The decline in YoY sales was led by Pune (-16%), Chennai (-17%), Thane (-11%) and Mumbai (-8%), while Navi Mumbai (12%) and Hyderabad (11%) bucked the trend with double-digit growth, and Bengaluru remained broadly stable
PropEquity tracks primary residential markets across nine major cities, including Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune, and Kolkata.
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Housing sales in these nine cities fell to 1,03,170 units in July-September from 1,09,420 units in the year-ago period. New supply during the quarter stood at 98,165 units, down from 1,00,330 units a year earlier, it noted.
Among the cities, housing sales in Bengaluru rose 1% to 17,340 units in July-September from 17,170 units in the year-ago period. Hyderabad recorded an 11% increase, from 13,890 to 15,470 units. In Mumbai, residential sales fell 8% to 9,830 units from 10,690 units. Thane, in the Mumbai Metropolitan Region, saw sales decline 11% to 16,230 units from 18,240 units. However, Navi Mumbai bucked the trend, with sales rising 12% to 9,810 units from 8,730 units.
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{{/usCountry}}Housing sales in Pune fell 16% to 17,860 units from 21,190 units, while Delhi-NCR recorded a 12% decline to 8,090 units from 9,230 units. Chennai saw sales fall 17% to 4,680 units from 5,640 units. Kolkata also witnessed a 17% decline, with sales dropping to 3,860 units from 4,640 units in the year-ago period, the analysis showed.
New supply demonstrates a broad-based correction
New launches declined 15% QoQ and 2% YoY across the nine cities. Thane recorded the steepest QoQ decline at 28%, followed by Chennai, Delhi-NCR and Pune. Hyderabad recorded a 68% YoY increase in launches, while Navi Mumbai declined 25% and Kolkata 32%, highlighting a cautious developer approach aimed at stabilising existing inventory levels in those regions.
“Q3 2026 reflects a significant drop of 15% Q-o-Q in new supply, while the absorption numbers remain stable with a minor drop of only 4% despite a large drop in supply. The tier 1 cities continue to hover around the 1 lakh quarterly mark in almost every quarter (over the last 8 quarters), for both new supply and absorption. This clearly signifies that the tier 1 cities have settled at an annual supply absorption volume of around 4 lakhs units a year translating to approx. 750 million sq. ft. of new annual supply,” said Samir Jasuja, founder and CEO, PropEquity.