Skip to main content

Housing sales fall below 1 lakh after 18 quarters, down 13% YoY in Q1 2026

By Jag Jivan  
India’s residential real estate market witnessed a continued slowdown in the first quarter of 2026, with housing sales across the top nine cities falling below the one lakh unit mark for the first time in over four years, according to data released by P.E. Analytics Ltd (PropEquity).
The NSE-listed analytics firm reported that total housing sales declined by 13% year-on-year and 6% quarter-on-quarter to 98,761 units in the January–March period. New project launches also contracted significantly, dropping 19% year-on-year and 8% sequentially to 92,411 units, reflecting constrained supply across most major urban markets.
The data indicates a broad-based decline in demand across cities, with Bengaluru and Delhi-NCR emerging as notable exceptions. Bengaluru recorded the highest sales among the top nine cities at 17,991 units, registering a 16% quarter-on-quarter increase and a modest 3% annual growth. This marks the first time the city has led both in sales and supply, underscoring its growing prominence as a real estate hub.
Delhi-NCR, with sales of 12,141 units, posted a 13% year-on-year increase, although it saw a marginal 1% decline compared to the previous quarter. All other major markets, including Mumbai, Pune, Hyderabad, and Kolkata, reported declines in sales, with some cities witnessing sharp contractions of up to 25% on an annual basis.
Commenting on the trend, Samir Jasuja, Founder and CEO of PropEquity, said housing sales “continued to moderate in the first quarter of 2026,” attributing the decline primarily to reduced supply across cities. He noted that nearly 22,000 fewer units were launched during the quarter compared to the same period last year.
On the supply side, Delhi-NCR emerged as a key growth driver, with 17,227 units launched during the quarter. It recorded an 89% year-on-year and 8% quarter-on-quarter increase, making it the only city among the top nine to post growth on both counts. The region has now emerged as the second-largest market in terms of new supply.
Bengaluru retained the top position in new launches with 17,782 units, registering a 10% sequential increase, although it saw a 24% annual decline. Chennai also recorded a 12% quarter-on-quarter rise in supply but witnessed a steep 62% year-on-year drop. Other cities, including Mumbai, Pune, Thane, and Navi Mumbai, experienced declines in new project launches.
Jasuja highlighted that while Delhi-NCR and Bengaluru saw comparable levels of supply, the former recorded lower absorption due to a higher proportion of premium or high-ticket housing launches, which impacted sales velocity. He also noted that this is the first time since the pandemic that Delhi-NCR has surpassed traditional high-supply markets such as Pune, Hyderabad, and Thane in terms of new launches.
The report suggests that the current moderation in housing activity is largely supply-driven, with developers exercising caution amid evolving market conditions. However, the relative resilience of Bengaluru and Delhi-NCR points to shifting demand dynamics and emerging regional strengths within India’s housing sector.
PropEquity stated that it tracks over 1.8 lakh projects by more than 60,000 developers across 50-plus cities, providing real-time data and analytics to institutional investors, banks, NBFCs, and developers.

Comments

Post a Comment

NOTE: Hateful, abusive comments won't be published. -- Editor

TRENDING

Neville Cardus: The man who turned cricket writing into poetry

By Harsh Thakor*  Neville Cardus was one of the most remarkable literary figures of the twentieth century. A prolific English writer and critic, he achieved distinction in two vastly different fields: cricket and classical music. Entirely self-taught, Cardus rose from humble beginnings to become both the cricket correspondent and chief music critic of The Manchester Guardian . His achievements in these contrasting disciplines earned him widespread acclaim and established him as one of the foremost critics of his generation. In February 2025, the cricketing and literary world marked the fiftieth anniversary of his death, which occurred in February 1975.
Post a Comment
»

​Ideological shifts and structural realities within India's left-wing insurgency

​By Harsh Thakor*  The Maoist insurgency in India is arguably at its weakest point since the formation of the Communist Party of India (Maoist) in 2004. Years of sustained counterinsurgency operations, leadership losses, shrinking territorial influence, declining recruitment, and growing technological advantages enjoyed by the state have significantly eroded the movement's operational capabilities. 
Post a Comment
»

The Dalit body on screen: Stereotypes, sacrifice, and subjugation in Hindi films

By Dr. Prem Singh*  Despite centuries of reformist efforts, from Gandhi and Ambedkar to contemporary activists, the caste system remains deeply embedded in the Indian psyche. One of the primary reasons for this persistence is the religious sanction provided by Brahminical scriptures, which have shaped not only social structures but also cultural and artistic expressions.
1 comment
»