Housing sales across eight major Indian cities inched up 0.7% year-on-year to approximately 1.71 lakh units during the first half of 2026, according to a report from a leading real estate consultant. The eight cities tracked include Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad, and Kolkata.
Modest Growth Amid Steady Demand
The marginal increase reflects sustained demand for residential properties, though growth remained tepid compared to previous periods. The consultant's report highlighted that while sales volumes were nearly flat, new launches also saw a similar trend, indicating a market in equilibrium.
Mumbai Metropolitan Region (MMR) continued to lead in terms of sales volume, followed by Delhi-NCR and Bengaluru. Pune and Hyderabad also showed resilience, while Chennai, Ahmedabad, and Kolkata recorded relatively lower activity.
Price Trends and Affordability
Property prices across these cities have remained stable, with slight upticks in certain micro-markets. The consultant noted that affordability remains a key concern, especially in metropolitan areas where home prices have risen significantly over the past few years. However, developer incentives and government schemes have helped sustain buyer interest.
The report attributed the steady sales to end-user demand rather than speculative investment, with a majority of buyers being first-time homeowners or those upgrading to larger spaces.
Outlook for Second Half of 2026
Looking ahead, the consultant expects housing sales to pick up moderately in the second half of 2026, driven by the festive season and potential interest rate cuts by the Reserve Bank of India. However, global economic uncertainties and inflationary pressures could pose headwinds.
“The market is showing signs of maturity with consistent demand from genuine homebuyers,” said a spokesperson for the consultant. “We anticipate a balanced performance in the coming quarters, with sales likely to remain in the range of 1.7-1.8 lakh units per half-yearly period.”
Regional Variations
Among the eight cities, Bengaluru and Pune recorded the highest year-on-year growth in sales, while Delhi-NCR saw a slight decline due to inventory overhang. Hyderabad’s market remained buoyant thanks to IT sector employment, whereas Ahmedabad and Kolkata experienced stable but slower growth.
The report also noted that the share of ready-to-move-in homes increased, as buyers preferred completed projects over under-construction ones, reflecting a shift in risk appetite.
