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Housing supply falls 30% in April-June of 2025, with Mumbai recording the sharpest fall at 61%. However, Delhi-NCR, Hyderabad and Chennai see growth in supply.
Housing sales fell in 7 out of the 9 cities with Mumbai and Thane witnessing the sharpest decline.
India’s residential real estate sector is beginning to show signs of slowdown as is evident from the latest housing report for the April-June period of 2025. Housing sales in India’s top-9 cities in Q2 2025 (April-June) fell below the 1-lakh-unit mark for the first time since Q3 2021, while supply remained below this threshold for the fourth consecutive quarter, according to a report by PropEquity.
Housing sales fell by 19% to 94,864 units in Q2 2025 as against 116,432 units in the same period last year, while supply fell by 30% to 82,027 units in Q2 2025 as against 117,208 units in the same period last year.
According to the report, housing sales fell in 7 out of the 9 cities with Mumbai and Thane witnessing the sharpest fall at 34% each, while Delhi-NCR at 16% and Chennai at 9% were the only two cities that saw a rise in sales in April-June of 2025.
Similarly, housing supply fell in 6 out of the 9 cities with Mumbai recording the sharpest decline at 61%, while three cities saw rise in supply, namely Delhi-NCR at 37%, Hyderabad at 19% and Chennai at 6% in April-June of 2025.
Samir Jasuja, founder and CEO of PropEquity, said, “This is for the first time since Q3 2021 (July-September) that housing sales have fallen below 1 lakh unit mark. Supply, too, has stayed below 1 lakh unit mark for the fourth consecutive quarter. There has been a decline in both sales and supply on Q-o-Q basis in Mumbai, Bengaluru and Navi Mumbai, as these cities recorded their high in 2023 and 2024, and are now stabilising to their normal pace.”
Delhi-NCR has witnessed the maximum growth in this quarter owing to rise in supply in Ghaziabad and Greater Noida, Jasuja added.
Supply rose by 37% in Delhi-NCR to 13,823 units, a multi-quarter high while sales 16% to 11,703 units in Q2 2025.
Garvit Tiwari, director and co-founder of Gurugram-based property consulting firm InfraMantra, said, “Delhi-NCR shines with positive growth even as housing sales and supply across top cities fall. This reaffirms the market’s capacity to absorb current level of stock and maturity to re-align itself with the prevalent demand-supply scenario.”
Bengaluru, which witnessed the highest supply amongst top 9 cities in Q1 2025, saw some moderation in Q2. Housing sales declined by 6% to 14,676 units, while supply fell by 13% to 14,243 units.
Umesh Gowda H.A., chairman and founder of Sanjeevini Group, said, “The Bengaluru housing market may be recalibrating and adjusting to the new demand as the market in Q2 saw absorption exceed supply after several quarters of launches exceeding sales. The city continues to be a high-performing market with high end-user demand as corporate activities remain heightened and employment and incomes have seen a steady rise driving residential demand.”
Housing sales in Chennai rose by 9% to 5354 units in Q2, while supply rose by 6% to 6463 units. Housing sales in Hyderabad fell by 20% to 11,815 units in Q2, while supply rose by 19% to 10,544 units.
Housing sales in Kolkata fell by 8% to 4449 units in Q2, while supply fell by 35% to 2672 units.
Housing supply in Maharashtra, comprising Mumbai, Navi Mumbai, Thane and Pune, saw 52% decline, with Mumbai declining by 61%, Thane 58%, Navi Mumbai 56% and Pune 40%.
Similar trend was seen on the sales front, declining by 29%, with Mumbai and Thane declining by 34% each, Pune 27%, and Navi Mumbai 17%.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso… Read More
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