Housing sales fall 6% in top 9 cities in Q3 2026; Pune, Chennai lead decline, Navi Mumbai, Hyderabad buck trend

Housing sales across the top nine cities stood at 1.03 lakh units in Q3 2026, down 6% YoY. Navi Mumbai and Hyderabad bucked the trend

Published on: Sep 26, 2026, 15:47:31 IST

By Vandana Ramnani

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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.

Also Read: Pitru Paksha 2026: Why homebuyers put property purchases on hold during Shraddh

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.

Also Read: Mumbai ranks 8th globally with prime residential prices rising 6.2% YoY in Q2 2026: Report

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.

ABOUT THE AUTHOR
Vandana Ramnani
Vandana Ramnani leads the real estate vertical at Hindustan Times Digital, bringing over two decades of journalism experience across real estate, education, human resources, and foreign affairs. She specialises in India’s real estate sector, covering residential and commercial markets in Delhi-NCR, Mumbai, and Bengaluru, with in-depth reporting on regulatory developments, urban policy, housing trends, and interviews with industry leaders. Her work has also appeared in the Hindustan Times newspaper and HT Estates. Earlier, Vandana played a key role in establishing the real estate vertical at Moneycontrol (NW18 Group), shaping its editorial direction and market coverage. She has also written extensively on international education for HT Education, tracking global study destinations, policy changes, and student mobility trends, earning the Singapore Education Award 2009 for Best Media Coverage (Print). Her reporting portfolio includes human resources and employment trends for HT ShineJobs and PowerJobs, as well as lifestyle and interior design features for HT Premium Homes. Vandana began her career with the Press Trust of India, gaining strong editorial and reporting expertise. She was also selected for a prestigious fellowship at Fondation Journalistes en Europe in Paris, where she wrote for EuroMag. One of her notable reporting assignments included covering Germany’s capital relocation from Bonn to Berlin. Outside of journalism, Vandana is a passionate traveller, constantly seeking out charming hideaways across India and the lesser-known, offbeat corners of Southeast Asia.Read More

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