Housing sales fall 6% in Q2 across top 7 cities as prices rise; Pune drops 15%, Mumbai Metropolitan Region 8%

India’s residential property market witnessed a moderation in demand during the April-June quarter of 2026, with housing sales declining 6% year-on-year across the country’s seven major cities amid rising home prices and persistent economic uncertainty, according to a report released by Anarock on Monday.

The report showed that approximately 90,715 housing units were sold during the second quarter of 2026, compared with 96,285 units in the corresponding quarter of last year. At the same time, average residential property prices across the top seven markets increased by 7% over the same period, making home purchases more expensive for buyers.

The seven cities covered in the report include Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.

Delhi-NCR, MMR and Pune witness sharp declines

Among the major markets, Delhi-NCR recorded a 6% annual decline in housing sales, with transactions falling to 13,365 units in April-June 2026 from 14,255 units a year earlier.

The Mumbai Metropolitan Region (MMR) remained India’s largest housing market by sales volume, despitean 8% decline. Sales stood at 28,710 units, down from 31,275 units in the same quarter of 2025.

Pune registered one of the steepest drops among the major cities, with housing sales declining 15% year-on-year to 13,090 units from 15,410 units.

In Chennai, residential sales also remained under pressure, slipping 9% to 5,135 units from 5,660 units in the year-ago quarter.

Bengaluru, Hyderabad and Kolkata buck the trend

Despite the overall slowdown, three cities posted annual growth in residential sales.

Bengaluru recorded a modest 1% increase in housing sales, with transactions rising to 15,285 units from 15,120 units in the corresponding quarter last year.

Hyderabad also witnessed steady demand, registering a 2% growth in sales to 11,270 units, up from 11,040 units.

Among all major markets, Kolkata emerged as the strongest performer, reporting a 10% increase in housing sales. The city sold 3,860 units during the quarter, up from 3,525 in Q2 2025.

In the statement, Anuj Puri, Chairman – ANAROCK Group, said: “These readings are along expected lines, as the Middle East war’s impacts on the entire sector were all too obvious. Reasons aside, we currently have a more balanced housing market, with new supply catching up with absorption as sales growth moderated across most top cities. Notably, the most significant sales growth is now in premium housing, GCC-led employment hubs, and infrastructure-driven corridors. Also, the Middle East war’s disruptions and, inevitably, AI-related uncertainties in the IT/ITeS sector have pushed more buyers onto the fence.”

“Interestingly, new launches remained strong in Q2 2026 annually as large and listed developers unleashed projects on the massive land parcels they acquired in 2025,” Puri added.

New housing launches rise despite weaker sales

While demand softened, developers continued to launch new residential projects. The report noted that around 1.06 lakh housing units were introduced across the seven major cities during Q2 2026, marking a 7% increase over the 98,625 units launched in the same period last year.

According to Anarock, MMR, Pune, Hyderabad, and Bengaluru together accounted for nearly 81% of the total new housing supply during the quarter.

MMR led new launches with approximately 34,555 units, reflecting a 23% year-on-year increase despite a 14% decline from the previous quarter. More than 57% of the fresh supply came in the sub- ₹1.5 crore price segment.

In contrast, Delhi-NCR witnessed a 40% annual decline in new launches, with around 11,205 units introduced during the quarter. Supply also fell 30% sequentially. Notably, nearly 61% of the new inventory was concentrated in the luxury housing segment priced above ₹1.5 crore.

Premium housing

Bengaluru added around 21,670 new units during Q2 2026. Although launches declined 11% on a quarterly basis, they surged 41% year over year. Nearly 96% of the city’s new supply was concentrated in premium and luxury projects priced above ₹80 lakh.

Pune recorded 12,735 new launches, down 10% year-on-year and 20% sequentially. More than 78% of the newly launched projects belonged to the mid-income and premium categories, priced between ₹40 lakh and ₹1.5 crore.

Hyderabad introduced approximately 16,970 units, representing a 53% annual increase despite a 12% quarterly decline. Around 82% of the new supply was in premium and luxury housing priced between ₹80 lakh and ₹2.5 crore.

Chennai and Kolkata see mixed supply trends

In Chennai, developers launched nearly 5,315 units during the quarter, reflecting a 38% decline from a year ago and a 1% sequentialdrop. More than 78% of the new inventory was concentrated in the mid-income and premium housing categories.

Kolkata recorded approximately 3,550 new housing launches, representing a 42% annual increase despite a 32% decline from the previous quarter. Around 58% of the new supply comprised premium and luxury homes priced between ₹80 lakh and ₹2.5 crore.

Quarterly trend

The report highlighted that overall housing sales across the seven cities declined 11% compared to the January-March quarter of 2026. Delhi-NCR, MMR, Bengaluru, Pune and Hyderabad together accounted for nearly 90% of total residential sales during the April-June period.

Quarter-on-quarter, sales fell 12% each in Delhi-NCR and MMR, while Pune continued to witness subdued demand. Bengaluru posted a 7% sequential decline, Hyderabad saw sales fall 9%, Chennai recorded a 3% decline, and Kolkata registered an 8% drop from the previous quarter.