 "Homes, Property, residential building")
Housing supply in the top nine cities fell by 34 per cent while sales declined by 23 per cent in the first three months of 2025, according to real estate data analytics firm PropEquity.
The firm said housing supply in the first three months dropped to 80,774 units compared to 122,365 units in the same period last year, marking the third consecutive quarter of sub-100,000 unit launches. Housing sales fell to 105,791 units in Q1CY25 from 136,702 units in the year-ago period.
Among the top nine cities, only Bengaluru bucked the trend, while Hyderabad, Chennai, Kolkata, Pune, Thane, Navi Mumbai, Mumbai, and Delhi-NCR witnessed a decline in either supply or sales or both.
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Housing supply in Bengaluru rose by 17 per cent to 20,227 units in Q1CY25, with the city accounting for 25 per cent of total launches this quarter, up from 14 per cent in the same period last year.
All other cities saw a drop in new supply, with Kolkata leading the pack at a year-on-year (Y-o-Y) decline of 62 per cent, followed by Mumbai and Thane at 50 per cent, and Pune at 48 per cent.
Only Bengaluru and Delhi-NCR recorded a Y-o-Y increase in sales, each rising by 10 per cent and accounting for 17 per cent and 11 per cent of total sales in the nine cities, respectively.
Hyderabad recorded the sharpest Y-o-Y decline in sales at 47 per cent, followed by Mumbai at 36 per cent and Pune at 33 per cent. The decline was also seen on a quarter-on-quarter (Q-o-Q) basis. Overall housing supply fell by 12 per cent from 92,128 units, while sales declined by 13 per cent from 121,886 units in Q4CY2024.
Sumit Jasuja, founder and chief executive officer (CEO), PropEquity, said the housing market was witnessing some correction after three years of record supply because of which sales are also on a declining trend.
“Rise in home prices and caution on the part of investors due to geo-political developments and certain weaknesses in the Indian economy have resulted in a drop in sales,” he said.
However, he added that the market has displayed strong demand, as reflected in the healthy absorption-to-supply ratio, which stood at 131 per cent in Q1 of 2025, compared to 132 per cent in Q4 2024.
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 "PLI scheme, Production-linked incentive")
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