Housing sales in top 7 cities fall 9% to 97,080 units in Q3 2025: Report

Housing sales across India's top seven cities fell 9% YoY in Q3 2025, but sales value rose 14% to Rs 1.52 trillion as luxury housing drove new launches and demand

Housing sales across the top seven Indian cities fell 9 per cent year-on-year (Y-o-Y) in the third quarter of 2025 (Q3 2025) to 97,080 units, amid affordability pressures, rising costs, and uneven demand, according to a report by Anarock.

 

Quarter-on-quarter (Q-o-Q), sales rose 1 per cent despite the monsoon and ‘shraad’ period. “The housing market remains steady in 2025, with expectations of a festive boost as developers line up new projects,” the report said. In Q1 2025, sales had dropped 28 per cent Y-o-Y, and in Q2 they fell 20 per cent.

 

Despite lower volumes, sales value rose 14 per cent to Rs 1.52 trillion in Q3 2025 from Rs 1.33 trillion a year earlier, driven by luxury and ultra-luxury housing. Homes priced above Rs 1.5 crore led new launches with a 38 per cent share, followed by premium units (Rs 80 lakh–1.5 crore) at 24 per cent, mid-segment (Rs 40–80 lakh) at 23 per cent, and affordable housing at 16 per cent.

 

Anuj Puri, chairperson, Anarock Group, said, “Among the top seven cities, MMR recorded the highest sales of approximately 30,260 units, followed by Pune with approximately 16,620 units. Cumulatively, the two western cities accounted for 48 per cent of the total sales in the top seven cities in Q3 2025. All top cities individually recorded a dip in yearly housing sales — except Chennai and Kolkata, which witnessed 33 per cent and 4 per cent yearly jumps, respectively.”

 

New launches in Q3 2025 rose 3 per cent Y-o-Y to 96,690 units, while sales outpaced supply, keeping the demand-supply balance intact. Unsold stock declined marginally from 5.64 lakh units in Q3 2024 to 5.61 lakh units in Q3 2025.

 

Average residential prices grew 9 per cent Y-o-Y to Rs 9,105 per square foot in Q3 2025, led by NCR with 24 per cent growth and Bengaluru at 10 per cent.

 

Puri added that the impact of the new US H1-B visa norms on Indian housing demand bears close watch, while affordability challenges persist even as price growth moderates from the double-digit pace of recent years.