Housing sales in top 9 cities dip 13% in Jan-Mar, fall below 1 lakh unit after 18 quarters: PropEquity

Housing sales across nine major cities fell 13 per cent annually during January-March quarter to 98,761 units on lower fresh supply of inventories amid West Asia conflict, according to PropEquity.

Real estate research firm PropEquity on Monday pointed out that the sales have fallen below 1 lakh units mark after 18 quarters. The nine major cities are Delhi-NCR, Mumbai, Navi Mumbai, Thane, Bengaluru, Pune, Hyderabad, Chennai and Kolkata.

As per the data, housing sales fell 13 per cent to 98,761 units during January-March this year compared to 1,13,602 units in the year-ago period. The total sales in these nine cities declined 6 per cent from 1,05,527 units in the previous quarter (October-December 2025).

Samir Jasuja, Founder & CEO of PropEquity said, “Housing sales continued to moderate in the first quarter of 2026 with Delhi-NCR and Bengaluru emerging as outliers. This reduction is on account of low supply across most cities. Close to 22,000 lesser units were supplied in Q1 2026 as compared to the same period last year.”

New supply fell 19 per cent to 92,411 units during January-March period from 1,14,718 units in the corresponding period last year. The launches dipped 8 per cent from the preceding quarter which saw new supply of 1,00,525 units.

Although PropEquity has not mentioned the reason for fall in launches this quarter, industry experts said the ongoing West Asia conflict has affected buying sentiment According to the PropEquity data, housing sales in Bengaluru rose 3 per cent to 17,991 units during January-March 2026 from 17,508 units in the year-ago period. In Delhi-NCR, housing sales increased 13 per cent to 12,141 units from 10,723 units.

However, housing sales in Chennai fell 4 per cent to 4,765 units from 4,959 units.

Hyderabad saw a 16 per cent decline in sales to 11,546 units from 13,725 units.

Sales of residential properties in Mumbai fell 20 per cent to 9,186 units from 11,453 units.

Navi Mumbai witnessed a 14 per cent fall to 7,157 units from 8,340 units, while Thane saw a 24 per cent decline to 15,959 units from 21,025 units.

In Pune, the sales fell 25 per cent to 16,144 units from 21,640 units.

Lastly, the housing sales in Kolkata declined 8 per cent to 3,872 units during January-March period from 4,229 units in the year-ago period.

On the sales data, Bhavesh Kothari, Founder and CEO of Property First Realty, said Bengaluru’s dominance as the highest-selling housing market underscores the city’s strong fundamentals driven by its thriving tech ecosystem, steady job creation, and sustained demand from both end-users and investors.

Bengaluru-based Sanjeevini Group Chairman and Founder Umesh Gowda H A said the steady increase in supply in the IT city remains well-aligned with the demand, reflecting developers’ prudent and market-responsive pricing strategies.

PropEquity, which is part of listed entity P E Analytics Ltd, tracks more than 1,80,000 projects by 60,000+ developers across 50+ cities. It provides data mainly to institutional investors, banks, NBFCs, private equity funds and real estate developers.