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Residential property sales across India's eight major cities rose slightly in the July-September quarter, reaching 96,827 units compared to 96,544 a year earlier, according to a Housing.com report by REA India. New housing launches also increased marginally to 94,419 units. REA India CEO Praveen Sharma said rising prices have dampened affordable housing demand, even as premium and high-end segments remain strong. He urged a dual focus on boosting affordable supply and improving buyer access. City-wise, Bengaluru, Chennai, and Kolkata recorded notable growth, while Delhi-NCR, Pune, and Mumbai saw declines. Overall, the sector showed steady momentum, with affordability remaining a key challenge.
Residential property sales across India’s eight major cities registered a slight increase during the July–September quarter, driven by sustained buyer sentiment, as stated in a recent Housing.com report. Total sales reached 96,827 units, marginally up from 96,544 units recorded during the corresponding period a year earlier. Advertisement
Similarly, the number of new housing units launched across these markets stood at 94,419, compared with 91,863 units in the same quarter of the previous year. The report was released earlier this week by REA India, which owns the Housing.com platform and operates under Australia’s REA Group.
Praveen Sharma, Chief Executive Officer of REA India, noted that the consistent rise in property prices over the past five years had weakened demand in the affordable housing segment, which he described as essential for the sector’s long-term balance and sustainability. He mentioned that although the premium and high-end segments continued to perform strongly due to positive consumer sentiment, the affordable segment was still struggling with limited supply despite steady demand. Sharma added that a dual strategy was needed — developers should be motivated to expand supply in the affordable housing category while enhancing affordability for end-users.
City-level data revealed mixed performance across markets. Ahmedabad saw housing sales drop by 11 per cent to 8,297 units, while Bengaluru experienced a 23 per cent surge to 13,688 units. Chennai witnessed the sharpest increase, up 51 per cent to 5,389 units. Conversely, Delhi-NCR reported a 14 per cent decline to 8,668 units. Hyderabad saw a 5 per cent rise to 12,138 units, whereas Kolkata recorded a 43 per cent increase to 4,007 units. In the Mumbai Metropolitan Region, sales dipped by 4 per cent to 28,690 units, and Pune registered an 11 per cent drop to 15,950 units compared with the same period a year earlier.
The July–September data suggested that India’s residential property sector maintained overall stability, with strong demand cushioning the impact of price growth and limited supply in certain segments. While luxury and premium housing continued to attract buyers, the affordable housing category faced persistent constraints. Market analysts indicated that policy measures encouraging affordability and fresh supply could be crucial for sustaining balanced growth across the housing spectrum in upcoming quarters.
Source - PTI
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