New Delhi, June 22: Housing sales in India’s major cities dropped below the 1 lakh unit mark in the April–June quarter of 2025 for the first time since Q3 2021, while new supply continued to remain sluggish, according to a report by NSE-listed real estate data analytics firm, PropEquity.
Sales fell by 19% year-on-year to 94,864 units in Q2 2025, down from 116,432 units during the same period last year. New housing supply also declined sharply by 30% year-on-year, falling to 82,027 units from 117,208 units in Q2 2024.
The report highlights a broad-based slowdown in demand, with seven out of the nine tracked cities reporting a year-on-year decline in housing sales. Mumbai and Thane registered the steepest drop, with sales down 34% each. In contrast, Delhi-NCR and Chennai bucked the trend, recording sales growth of 16% and 9% respectively.
Supply trends mirrored sales in several markets, with six of the nine cities witnessing a decline. Mumbai again led the fall, with a 61% drop in new launches. However, Delhi-NCR, Hyderabad, and Chennai reported increases in supply by 37%, 19%, and 6% respectively.
“This is the first time since Q3 2021 that housing sales have dipped below the one lakh unit threshold,” said Samir Jasuja, Founder and CEO of PropEquity. “Supply has also stayed below this mark for the fourth consecutive quarter. Major markets like Mumbai, Bengaluru, and Navi Mumbai are showing signs of cooling after peaking in 2023 and 2024, returning to more sustainable levels.”
Jasuja also noted that Delhi-NCR emerged as the top-performing region this quarter, primarily due to an increase in new supply in sub-markets like Ghaziabad and Greater Noida.
On a quarter-on-quarter basis, overall housing sales across the top nine cities dropped by 10%, while new supply saw a marginal 2% increase. Cities including Chennai, Hyderabad, Kolkata, Pune, and Delhi-NCR witnessed a rise in supply, while sales improved in Chennai, Hyderabad, Kolkata, and Delhi-NCR.
(With agency reports)
