Housing sales rise 3% in Q3 as three cities lead gains

Housing sales across India's top seven cities rose 3% year-on-year in the July-September quarter of 2026, reaching about 1,00,220 units, according to data from property consultancy Anarock. The growth in housing sales came despite a sharp rise in residential prices and continued uncertainty in the global economic environment. The total value of homes sold inched up 2% to Rs 1.55 lakh crore, from Rs 1.52 lakh crore in the same quarter last year.

The growth was narrow. The Mumbai Metropolitan Region (MMR), Bengaluru and Hyderabad produced all of the net increase. MMR sold about 31,750 units, up 5% from a year earlier and the highest volume of any of the top seven cities. Bengaluru recorded around 16,670 units, a 12% jump. Hyderabad posted the fastest growth of the three, with about 11,305 units sold, up 15%. Together, the Mumbai region and Bengaluru accounted for roughly 48% of all sales in the quarter, and the concentration of housing sales in three markets was the story of the period.

Three cities drive most of the housing sales

The other four cities all declined. Pune sold about 15,690 units, down 6% from a year earlier. Delhi-NCR recorded around 13,765 units, a 1% fall. Kolkata managed about 3,980 units, down 4%, while Chennai saw the sharpest drop of the seven, with about 5,395 units sold, a 10% fall from the same quarter last year. The split shows buyers turning more selective as residential prices rise.

Housing sales split between growing and shrinking markets

While sales grew slowly, developers added new stock at a faster pace. New housing supply from the seven cities rose 18% year-on-year in the quarter. MMR launched about 37,500 units, the largest number of any city. Bengaluru launched about 21,670 units, up 17% from a year earlier. Hyderabad's new housing supply surged 120% to about 18,950 units, and the Mumbai region's launches grew 27%. The other major markets saw new supply decline, a sign that builders are concentrating on areas where demand is still holding up.

Average residential prices across the top seven cities rose 7% from a year earlier, though the quarter-on-quarter increase was only about 1%, which points to moderating price growth. Delhi-NCR recorded the steepest annual rise at 12%, followed by Bengaluru at 8%. Stable housing sales at higher prices suggest demand remains firm in the stronger markets, but further price increases could strain affordability for first-time buyers.

Developers launched more homes than they sold in the strongest markets during the July-September quarter. The Mumbai region introduced about 37,500 new units against sales of 31,750, while Bengaluru launched 21,670 against sales of 16,670. Hyderabad's launches of 18,950 units also ran well ahead of its 11,305 sales. The gap suggests builders are betting that festive-season demand will absorb the extra stock, though buyers are expected to stay selective. Whether that bet pays off will become clearer in the next quarter, when festival-period buying is counted.

Festive season to test the recovery

Anarock chairman Anuj Puri said the upcoming festive season could bring more residential demand. He said buyers would stay selective as prices rise and affordability worries persist, adding that a strong pipeline of new launches and steadier borrowing costs could lift housing sales through the festival period. The consultancy expects the market to remain selective rather than grow evenly across cities and projects, with correctly priced properties in areas of concentrated demand performing best.

The figures contrast with data from PropEquity, which showed housing sales in nine major cities falling 6% year-on-year in the same quarter. The difference reflects the cities covered and the methods used by the two research agencies. For the seven cities it tracks, housing sales crossed the one-lakh mark and grew from a year earlier even at higher prices.