Kolkata, Dec 26 (.) Hardening property prices, layoffs in the IT sector, geopolitical tensions and other uncertainties dented India’s residential growth momentum in 2025.
ANAROCK Research data indicates that housing sales in the top 7 cities witnessed a 14 perc ent decline in 2025, with approx. 3,95,625 units sold in the year against 4,59,645 units in 2024.
However, the overall sales value of housing units saw a 6 pc (per cent) yearly jump – from about Rs 5.68 lakh Cr in 2024 to over Rs 6 lakh Cr in 2025.
MMR witnessed the highest sales of approx. 1,27,875 units, registering an 18 pc yearly decline. Pune followed with approx. 65,135 units sold, declining by 20 pc y-o-y. The two western markets together led residential sales in 2025, comprising a 49 pc overall share.
New launches in the top 7 cities saw a 2 pc annual increase – from approx. 4,12,520 units in 2024 to approx. 4,19,170 units in 2025. MMR and Bengaluru saw the maximum new launches, together accounting for almost 48 pc of the new supply in the year.
“Year 2025 has been a year of broad-spectrum upheaval including geopolitical turmoil, layoffs in the IT sector, tariff tensions and other uncertainties,” said Anuj Puri, Chairman – ANAROCK Group. “The year’s trend was of sale volumes stabilizing at around 4 lakh units across the top 7 cities, but growth in overall sales value. Our data shows that more than 21% of the new supply was launched in the above INR 2.5 Cr price bracket.”
“Interestingly, the average residential price growth rate has tapered down from double digits in previous years to single digits in 2025,” adds Puri. “Prices in the top 7 cities collectively rose 8 pc annually, and only NCR saw double-digit growth at 23 pc – largely due to a higher new supply of pricier homes. Out of NCR’s total new supply of 61,775 units during the year, over 55 pc was priced over Rs. 2.5 Cr.”
“The sector’s performance in 2026 hinges on several key factors, most notably rate cuts by the RBI and price control by developers. Amid the currently favourable economic outlook, further repo rate cuts leading to lower home loan interest rates can cause demand to revive significantly,” he said.
Among budget categories, both the demand for and supply of luxury housing rose in 2025 – the post-pandemic trend toward bigger, better homes by branded developers continues. The share of new supply of homes priced Rs 2.5 Cr in the top 7 cities was a significant 21 pc in 2025, against 18 pc in 2024. There is every reason to expect this trend to endure in 2026, as well.
MMR, Pune, Bengaluru, Hyderabad, and NCR, together accounted for 90 pc of overall sales in 2025 across the top 7 cities.
MMR saw the highest sales with approx. 1,27,875 units sold in 2025; declining by 18 pc against 2024.
Pune saw approx. 65,135 units sold in 2025 – a yearly decline of 20 pc over 2024.
Bengaluru also saw just a marginal yearly decline of 5 pc in housing sales, with approx. 62,205 units sold in 2025.
NCR recorded sales of approx. 57,220 units in 2025, declining by 8 pc over the last one year.
Hyderabad saw approx. 44,885 units sold in 2025 – a significant 23 pc decline over 2024.
Kolkata recorded sales of approx. 16,125 units in 2025 – a decline of 12 pc over the previous year.
Chennai is the only city to witness a jump of 15 pc in sales in 2025 – approx. 22,180 units were sold in 2025.
Annually, unsold inventory in the top 7 cities rose 4 pc by 2025-end, largely because of tapered demand and increased new supply in the year. Approx. 5.77 lakh units are currently on the primary sales market in these cities. Notably, thanks to restricted new supply in the city,
Hyderabad saw a marginal decline of 2 pc in unsold stock in 2025 – from approx. 97,765 units by 2024-end to approx. 96,140 units by 2025-end. MMR also witnessed a marginal 1 pc decline in unsold stock. All other cities saw their unsold inventory rise over the year, with Bengaluru recording a significant 23 pc increase. . . SAS PRP