Housing sales across eight key Indian markets remained broadly stable at 260,000 units between January and September 2026, according to a Knight Frank India report. Mumbai led with 72,804 units, followed by Bengaluru with 43,140 and Pune with 36,402. Sales increased 1% year on year in Mumbai and 5% in Bengaluru, while Pune was largely unchanged.

NCR was the only major market to record a decline, with sales falling 11% to 35,574 units. Gurugram accounted for most of the drop and held 57% of NCR’s unsold inventory, although sales outside Gurugram increased 3%. The decline was concentrated in the Rs. 50-100 mn price segment, where sales fell 39% to 4,033 units, while demand in the Rs. 20-50 mn segment remained steady.

Developers launched 279,899 units during the nine-month period, up 4% year on year, including 92,549 units in Q3 2026. Launches exceeded sales for the 16th consecutive quarter, indicating a gradual build-up in inventory. The other seven markets recorded stable or positive growth, ranging from unchanged performance in Pune to 4% growth in Kolkata and 5% in Bengaluru.

Homes priced above Rs. 10 mn accounted for 55% of sales, compared with 50% a year earlier, while sales below that level declined by around 10%. The Rs. 10-20 mn segment was the largest category, representing 30% of sales and growing 6.8% to 77,087 units. Sales in the Rs. 20-50 mn segment increased 19.4% to 51,501 units, while the Rs. 50-100 mn segment declined 9% to 9,397 units.

Housing prices rose across all tracked markets, with annual increases ranging from 3% to 17%. NCR recorded increases of 17% in Delhi, 14% in Ghaziabad, 11% in Greater Noida, 7% in Noida and Faridabad, and 4% in Gurugram. The report said the data pointed to a recalibration of supply towards established demand rather than a broad-based contraction in housing demand. Third-quarter launches were concentrated along Sohna, the Dwarka Expressway, the NH-24 corridor and the Yamuna Expressway.