According to data released by PropTiger, housing sales in the Mumbai Metropolitan Region (MMR) and Pune dropped by 30% to 41,901 units during the April–June quarter this year. The decline is largely attributed to a surge in property prices, which has dampened buyer sentiment.
In the same quarter last year, these two major real estate markets in Maharashtra recorded combined sales of 60,191 units.
PropTiger, a real estate brokerage firm, released the report on Monday, revealing that overall housing sales across India’s eight key residential markets dropped 14% year-on-year to 97,674 units, compared to 1,13,768 units sold during the same period in the previous year.
“The short-term dip in home sales and new launches is more of a recalibration than a sign of waning demand. Affordability pressures, particularly in the budget and mid-income segments, have led to some cautious buyer sentiment,” Sridhar Srinivasan, Head of Sales, PropTiger.com, said.
However, Srinivasan emphasized that the fundamental demand for housing remains strong.
According to the data, housing sales in the Mumbai Metropolitan Region (MMR) dropped by 32% to 25,939 units, compared to 38,266 units in the same period last year. Pune experienced a 27% decline, with sales falling to 15,962 units from 21,925 units.
In Ahmedabad, sales dipped marginally by 1% to 9,451 units, down from 9,500 units. Delhi-NCR recorded a 9% decrease in sales, falling to 10,051 units from 11,065 units, while Hyderabad saw a 6% drop to 11,513 units from 12,296 units.
On the other hand, Bengaluru witnessed a 16% rise in housing sales, reaching 15,628 units from 13,495 units. Chennai also reported a significant increase of 33%, with sales climbing to 5,283 units from 3,984 units.
Residential property sales in Kolkata rose by 19% to 3,847 units during the April–June quarter this year, up from 3,237 units in the same period last year.
The data covers the primary housing markets across eight major Indian cities.
In terms of regional breakdown, the Delhi-NCR market includes Gurugram, Noida, Greater Noida, Ghaziabad, and Faridabad, while the Mumbai Metropolitan Region (MMR) comprises Mumbai, Navi Mumbai, and Thane.
PropTiger, which released the data, is a part of REA India—the parent company of Housing.com, a leading real estate classifieds platform.
