Q1 2025 Sees Housing Sales Dip 28% Y-o-Y in Top 7 Cities

28 Mar 2025 CW Team

Anuj Puri, Chairman - ANAROCK Group, says, "MMR and Pune accounted for 51 per cent of the total sales, with MMR seeing a 26 per cent yearly drop and Pune a decline of over 30 per cent. At 49 per cent, Hyderabad saw the highest annual drop in sales, while Bengaluru had the lowest decline at 16 per cent." New launches across the top 7 cities remained above the one lakh mark but saw a 10 per cent yearly decline – from approx. 1,10,865 units in Q1 2024 to approx. 1,00,020 units in Q1 2025."

"Notably, MMR and Bengaluru saw the maximum new supply in Q1 2025, accounting for 52 per cent of the total new launches across the top 7 cities," adds Puri. "While MMR saw new supply drop by 9% annually, Bengaluru saw new supply increase by 27 per cent in this period. NCR, Bengaluru and Kolkata saw supply rise by 53 per cent, 27 per cent and 26 per cent, respectively, while the other cities recorded supply declines - with Hyderabad recording the highest 55 per cent yearly decrease."

Though new launches stayed above the 1 lakh mark in Q1 2024, unsold inventory dropped by 4 per cent annually – from approx. 5,80,890 units by Q1 2024-end to approx. 5,59,810 units by Q1 2025-end. Among the top cities, Pune saw the highest decline of 16 per cent in its available stock in Q1 2025. In contrast, Bengaluru saw its unsold stock rise by a significant 28 per cent - to approx. 58,660 units - by Q1 2025-end.

“India's overall economic scenario remains positive, with GDP growth rate pegged to be the highest globally and inflation also under control," says Puri. "However, rising housing prices and global headwinds like ongoing geopolitical tensions and a weak global economy, has taken their toll on India's residential market activity. These factors cascaded down into the housing market in Q1 2025.”

New Launch Overview The top 7 cities saw approx. 1,00,020 units launched in Q1 2025, against approx. 1,10,865 units in Q1 2024 - a 10 per cent decline. The key cities contributing to new launches in Q1 2025 were the Mumbai Metropolitan Region, Bengaluru, Pune, and the National Capital Region, which together accounted for 80 per cent of the quarter's supply addition.

- MMR saw approx. 30,755 units launched in Q1 2025 – a decline of approx. 9 per cent over Q1 2024. Over 56 per cent of the new supply was in the sub-Rs 80 lakh budget segment. - Bengaluru added approx. 20,855 units in Q1 2025 - a yearly rise of 27 per cent. Approx. 53 per cent of the new supply was in the luxury segment priced > Rs 1.5 crore. - Pune added approx. 16,860 new units in Q1 2025 compared to approx. 18,770 units in Q1 2024, marking a 10 per cent drop. Approx. 79 per cent of the new supply was in the mid and premium segments (Rs 40 lakh – Rs 1.5 crore) - NCR saw new supply increase by a massive 53 per cent over Q1 2024, with approx. 11,120 units launched in Q1 2025 against approx. 7,270 units in Q1 2024. Notably, 70 per cent of the new supply was in the ultra-luxury segment (priced >Rs 2.5 crore). - Hyderabad added approx. 10,275 units in Q1 2025 - a yearly decline of 55 per cent over the same period in 2024 when approx. 22,960 units were launched. Over 70 per cent of the new supply was in the luxury & ultra-luxury segments (priced >Rs 1.5 core). - Chennai added approx. 4,755 units in Q1 2025, marking a 35 per cent decline. At least 81 per cent of the new supply was in the mid and premium segments (priced within Rs 40 lakh to Rs 1.5 crore) Kolkata added approx. 5,400 units in Q1 2025, a 26 per cent rise over Q1 2024. Approx. 59 per cent of the new supply was in the affordable and the mid segments (priced up to Rs 80 lakh.)

Skyrocketing residential prices coupled with geopolitical headwinds have slowed the Indian housing market’s bull-run in Q1 2025. Latest ANAROCK data finds that the year's first quarter saw sales drop 28 per cent across the top 7 cities against the same period in 2024. Approx. 93,280 units were sold in Q1 2025 in the top 7 cities, in sharp contrast to all-time high sales of over 1.30 lakh units in Q1 2024. Anuj Puri, Chairman - ANAROCK Group, says, MMR and Pune accounted for 51 per cent of the total sales, with MMR seeing a 26 per cent yearly drop and Pune a decline of over 30 per cent. At 49 per cent, Hyderabad saw the highest annual drop in sales, while Bengaluru had the lowest decline at 16 per cent. New launches across the top 7 cities remained above the one lakh mark but saw a 10 per cent yearly decline – from approx. 1,10,865 units in Q1 2024 to approx. 1,00,020 units in Q1 2025. Notably, MMR and Bengaluru saw the maximum new supply in Q1 2025, accounting for 52 per cent of the total new launches across the top 7 cities, adds Puri. While MMR saw new supply drop by 9% annually, Bengaluru saw new supply increase by 27 per cent in this period. NCR, Bengaluru and Kolkata saw supply rise by 53 per cent, 27 per cent and 26 per cent, respectively, while the other cities recorded supply declines - with Hyderabad recording the highest 55 per cent yearly decrease. Though new launches stayed above the 1 lakh mark in Q1 2024, unsold inventory dropped by 4 per cent annually – from approx. 5,80,890 units by Q1 2024-end to approx. 5,59,810 units by Q1 2025-end. Among the top cities, Pune saw the highest decline of 16 per cent in its available stock in Q1 2025. In contrast, Bengaluru saw its unsold stock rise by a significant 28 per cent - to approx. 58,660 units - by Q1 2025-end. “India's overall economic scenario remains positive, with GDP growth rate pegged to be the highest globally and inflation also under control, says Puri. However, rising housing prices and global headwinds like ongoing geopolitical tensions and a weak global economy, has taken their toll on India's residential market activity. These factors cascaded down into the housing market in Q1 2025.” New Launch Overview The top 7 cities saw approx. 1,00,020 units launched in Q1 2025, against approx. 1,10,865 units in Q1 2024 - a 10 per cent decline. The key cities contributing to new launches in Q1 2025 were the Mumbai Metropolitan Region, Bengaluru, Pune, and the National Capital Region, which together accounted for 80 per cent of the quarter's supply addition. - MMR saw approx. 30,755 units launched in Q1 2025 – a decline of approx. 9 per cent over Q1 2024. Over 56 per cent of the new supply was in the sub-Rs 80 lakh budget segment. - Bengaluru added approx. 20,855 units in Q1 2025 - a yearly rise of 27 per cent. Approx. 53 per cent of the new supply was in the luxury segment priced > Rs 1.5 crore. - Pune added approx. 16,860 new units in Q1 2025 compared to approx. 18,770 units in Q1 2024, marking a 10 per cent drop. Approx. 79 per cent of the new supply was in the mid and premium segments (Rs 40 lakh – Rs 1.5 crore) - NCR saw new supply increase by a massive 53 per cent over Q1 2024, with approx. 11,120 units launched in Q1 2025 against approx. 7,270 units in Q1 2024. Notably, 70 per cent of the new supply was in the ultra-luxury segment (priced >Rs 2.5 crore). - Hyderabad added approx. 10,275 units in Q1 2025 - a yearly decline of 55 per cent over the same period in 2024 when approx. 22,960 units were launched. Over 70 per cent of the new supply was in the luxury & ultra-luxury segments (priced >Rs 1.5 core). - Chennai added approx. 4,755 units in Q1 2025, marking a 35 per cent decline. At least 81 per cent of the new supply was in the mid and premium segments (priced within Rs 40 lakh to Rs 1.5 crore) Kolkata added approx. 5,400 units in Q1 2025, a 26 per cent rise over Q1 2024. Approx. 59 per cent of the new supply was in the affordable and the mid segments (priced up to Rs 80 lakh.)

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