New Delhi
Housing sales in India’s top cities dropped below one lakh units in April–June 2025, a first in 14 quarters, according to a report by PropEquity. The last time sales were this low was in July–September 2021. During the same period this year, only 94,864 units were sold, marking a 19% fall compared to 1.16 lakh units sold in the same quarter last year.
The report also noted that new housing supply dropped 30% year-on-year to 82,027 units. This is the fourth quarter in a row when new housing supply stayed below one lakh units. In April–June 2024, supply stood at 1.17 lakh units.
Among nine major cities, sales declined in seven, with Mumbai and Thane seeing the biggest falls at 34% each. However, Delhi-NCR and Chennai saw sales rise by 16% and 9% respectively.
In terms of supply, Mumbai again faced the largest decline—down 61%. Delhi-NCR, Hyderabad, and Chennai were the only cities with rising supply, with Delhi-NCR seeing a big 37% increase.
Samir Jasuja, CEO of PropEquity, said that major cities like Mumbai, Navi Mumbai, and Bengaluru are now slowing down after peaking in 2023 and 2024. He added that Delhi-NCR showed strong performance due to growing supply in Ghaziabad and Greater Noida.
Overall, sales across the top nine cities fell 10% quarter-on-quarter, while supply rose slightly by 2%. Cities like Chennai, Hyderabad, Kolkata, and Delhi-NCR were the few areas to witness a positive trend in both sales and supply.