PUNE, 5 NOV. Home sales across India’s seven major metropolitan cities registered a significant drop of 12% during the January to September 2025 period this year. Real estate experts suggest that economic uncertainty, rising interest rates, and continuously increasing property prices have caused buyers to pull back. However, amidst this overall decline, Pune and Chennai stand out, maintaining an upward trend and providing a positive direction for the market.

Consolidated Figures Across Seven Cities

According to the latest report by 'Anarock Research,' a total of 2,02,756 units were sold across the seven metros: Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata. This figure is down from approximately 2.3 lakh units sold during the same period last year, marking an overall 12% decrease in sales.

Upward Trend in Pune and Chennai

Pune and Chennai have proven to be exceptions to the national decline in home sales.

• Pune has seen increased home-buying confidence driven by the strong IT industry, ample employment opportunities, and sustained infrastructural development.

• Chennai witnessed a sales boost due to a steady market and a strong influx of local buyers.

Buyers Shifting Towards Premium Homes

The report highlights a trend where the sale of premium homes priced above ₹1 crore is increasing, while sales of homes below the ₹1 crore mark have declined. High-income buyers are driving demand for larger projects that offer robust amenities and facilities.

Prices Jump by 6% to 16%

Property prices have recorded a significant increase across all seven cities:

• Kolkata saw the highest surge at 16%, followed by Chennai at 14%.

• Prices in Mumbai, Bengaluru, and Delhi-NCR also saw substantial hikes, making home purchases increasingly difficult for middle-class buyers.

New Project Launches Remain Stable

In the first nine months, approximately 2.25 lakh new homes were launched across the country. This figure is only 1% lower than the previous year. This indicates that despite a slight slowdown in sales, builders have maintained the pace of launching new projects. Notably, Pune, Hyderabad, and Bengaluru saw an increase in the number of new project launches.

Future Trend: 'Value Growth' Over 'Volume Growth'

According to experts, the Indian housing market is now leaning towards 'Value Growth' rather than 'Volume Growth.' Real estate analysts suggest that "Buyers are now shifting their focus from merely affordable homes to projects offering superior construction quality, modern amenities, and reliable brands."

Overall, the domestic housing market is currently in a phase of price appreciation. Despite the drop in sales volume, the industry is optimistic that rising demand for premium homes, a stable economy, and a quality-focused buyer segment will help the market regain momentum in the coming months.

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