Housing sales in India’s nine key cities are expected to fall by at least 19% year-on-year (YoY) in the second quarter of 2025 (April–June), according to PropEquity data.
At the same time, new housing supply in these cities is projected to decline by 30% YoY.
Housing Sales in Major Cities Likely to Fall 19% YoY in Q2 2025
Mumbai recorded the biggest drop, with sales falling 34% YoY to 8,006 units and new supply decreasing 61% YoY to 4,949 units.
Thane showed a similar trend, also seeing a 34% drop in sales and a 58% fall in new supply compared to last year.
Out of the nine cities surveyed, seven reported a YoY decrease in housing sales.
Only Delhi-NCR and Chennai saw sales rise by 16% and 9% YoY, respectively.
On the supply side, six cities saw a decline in new housing stock.
Delhi-NCR was the main exception, with a 37% increase in new supply YoY, followed by Hyderabad (19%) and Chennai (6%).
Housing Sales May Drop Below 1 Lakh Units for First Time Since Q3 2021
For the first time since Q3 2021 (July–September), total housing sales may fall below 1 lakh units.
New housing supply is also expected to stay below 1 lakh units for the fourth quarter in a row.
“This is the first time since Q3 2021 that housing sales have dropped below 1 lakh units. Supply has also remained below that mark for four straight quarters,” said Samir Jasuja, Founder and CEO of PropEquity.
Jasuja added that Mumbai, Bengaluru, and Navi Mumbai are showing signs of stabilisation after peaking in 2023 and 2024, which is leading to a quarter-on-quarter drop in both sales and supply.
He also said, “Delhi-NCR has seen the highest growth this quarter due to increased supply in Ghaziabad and Greater Noida.”
In Bengaluru, housing sales dropped 6% YoY to 14,676 units in Q2, while new supply decreased 13% YoY to 14,243 units.
Hyderabad’s sales fell 20% YoY to 11,815 units, though new supply increased by 19% to 10,544 units.
Navi Mumbai saw a 17% YoY fall in sales to 6,833 units, while supply dropped 56% YoY to 4,592 units.
Pune experienced a 27% decline in sales to 17,196 units, along with a 40% drop in new supply to 14,845 units.
