Housing unit launches in top 9 cities dip 34% to 81K in Jan-Mar: PropEquity

New supply of housing properties in India's top-9 cities declined 34 per cent to 80,774 units during January-March period, according to PropEquity.

There were 1,22,365 housing units launched in the year-ago period.

Real estate data analytics firm PropEquity data showed that new supply rose only in Bengaluru and fell in other cities.

As per the data, new housing supply in Bengaluru increased 17 per cent to 20,227 units in January-March from 17,303 units in the year-ago period.

However, in Chennai, the fresh supply fell 46 per cent to 3,946 units from 7,259 units.

New supply in Hyderabad declined 38 per cent to 8,773 units from 14,082 units.

Kolkata saw a 62 per cent fall in new supply to 1,874 units from 4,964 units.

In Mumbai, the new supply halved to 6,359 units from 12,840 units.

Navi Mumbai, too, saw a dip of 24 per cent to 5,810 units from 7,616 units.

New homes supply in Pune fell 48 per cent to 12,479 units from 24,007 units.

In Thane, the new supply fell 50 per cent to 11,205 units from 22,595 units.

In Delhi-NCR new housing supply declined 14 per cent to 10,101 units in January-March 2025 from 11,699 units in the year-ago period.

Commenting on the data, Anjana Sastri, Director, Marketing of Bengaluru-based Sterling Developers, said the demand for luxury, gated communities, and large-scale developments continues to grow in Bengaluru.

"Bengaluru real estate market is also seen as a safe investment due to its strong rental yield potential, attracting not just homebuyers but also investors, further driving up housing supply," Sastri said.

Golden Growth Fund (GGF) CEO Ankur Jalan a real estate-focussed alternative investment fund (AIF) said Delhi, being an end-user driven market, continues to see consistent supply on the back of robust demand and price appreciation for plots and floors.

MVN Infrastructure Founder and Managing Director Varun Sharma said the dip in supply in Delhi-NCR reflects developers' strategic focus on aligning with evolving buyer preferences.

"The region continues to thrive as a hub for robust real estate activity, with demand remaining strong, particularly in the premium and luxury segments," he said.

NCR-based housing brokerage firms InvestoXpert, InfraMantra and V S Realtors attributed the decline in supply to cautious approach adopted by developers.

InvestoXpert Founder & MD Vishal Raheja said, "The decline in housing supply in the Delhi-NCR market highlights a tightening real estate landscape, shaped by regulatory shifts, escalating input costs, and a more cautious approach from developers amid evolving demand patterns."  While buyer interest remains strong, constrained new launches are exerting supply-side pressure, potentially driving price appreciation in high-demand micro-markets, he added.

InfraMantra Director & Co-Founder Garvit Tiwari said, "The housing supply in Delhi-NCR has grown significantly in the last two years, adding close to 75,000 units. Real estate developers in the region are recalibrating their portfolio and adjusting their supply pipeline in view of the excess supply."  VS Realtors Founder and CEO Vijay Harsh Jha said, "Since Q4 2023, this is the lowest quarterly housing supply in NCR. This is because the price points at which new supplies came into the market last year are yet to be absorbed and developers are adopting a wait and watch strategy.