Average residential prices rose by 1% quarterly, annual rise has been 11% in the top 7 Indian cities.
Housing Sales Dip 20% Y-o-Y in Q2 2025 Across Top 7 Cities, up 3% Q-o-Q
- ANAROCK
· Q2 2025 saw approx.
96,285 units sold in the top 7 cities, against over 1.20 lakh units in Q2 2024
& 93,280 units in Q1 2025
· Of the top cities,
only Chennai saw a 11% yearly sales rise with approx. 5,660 units sold in Q2 2025,
against 5,100 in Q2 2024; Q-o-Q, it saw a massive 40% jump
· MMR & Pune
together accounted for 48% of total sales in Q2 2025 with approx. 31,275 &
15,410 units sold, respectively
· Developers
throttled back fresh supply in Q2 2025 to a 16% Y-o-Y decline – from approx.
1.17 lakh units launched in Q2 2024 to approx. 98,625 units in Q2 2025: on a
Q-o-Q basis, a 1% decline
· Realty hotspots MMR
& NCR led supply with approx. 28,165 & 18,760 units added, respectively
- 48% of total fresh supply in top 7 cities; at 65%, Chennai saw highest yearly
rise of new launches in Q2 2025
· New luxury &
ultra-luxury (>INR 1.5 Cr) supply still drives new supply across cities with
a 46% overall share, followed by mid segment (INR 40 lakh - INR 80 lakh) and
premium segment (INR 80 lakh – INR 1.5 Cr) comprising 21% share each;
affordable supply share at just 12%
· Unsold inventory in
top 7 cities down 3% annually; Pune saw highest yearly decline of 15%
· Avg. property
prices in top cities saw a 11% cumulative annual rise, but just 1% quarterly –
NCR saw highest 27% yearly jump, followed by Bengaluru with 12% & Hyderabad
with 11% avg. price jumps
Mumbai, 26 June 2025: Inexorably rising property
prices, geopolitical tensions including Operation Sindoor and the
Iran-Israel war impacted housing sales in the top 7 cities in Q2 2025, finds
latest ANAROCK Research data. There was an annual sales drop of 20%, with
approx. 96,285 units sold in the quarter against approx. 1,20,335 units in Q2
2024. However, housing sales rose 3% Q-o-Q.
MMR and Pune together accounted for over 48% of total sales in the top 7
cities, with approx. 46,685 units cumulatively sold in these cities in Q2 2025.
Chennai was the only city to see a yearly rise (11%) in housing sales in the
quarter against Q2 2024 – from approx. 5,100 units in Q2 2024 to approx. 5,660
units in Q2 2025. Q-o-Q, Chennai saw sales jump by 40% - approx. 4,050 units
were sold in the city in Q1 2025.
New launches decelerated by 16% Y-o-Y – from approx. 1,17,165 units in
Q2 2024 to approx. 98,625 units in Q2 2025. Realty hotspots MMR and NCR saw the
maximum new supply, accounting for 48% of the total new supply additions across
the top 7 cities. Individually, MMR witnessed a 36% yearly decline and a 8%
quarterly decline in new supply.
Notably, NCR witnessed a 69% Q-o-Q jump in new supply in Q2 2025 against
Q1 2025, and a 10% yearly rise.
Anuj Puri, Chairman – ANAROCK Group, says, "The second quarter of
2025 was a rollercoaster for the Indian housing market, rocked by major
military actions at home and abroad. The war-like climate pushed homebuyers
into wait-and-watch mode, compounding the impact of soaring property prices
over the past two years. Now, with domestic tensions easing and the RBI’s repo
rate cut injecting fresh optimism, buyer sentiment is rebounding."
"Despite a 20% year-on-year dip in sales across the top 7 cities, a
3% uptick this quarter signals renewed momentum," he says. "With home
loan rates softening and developers largely holding prices steady, the stage is
set for a potential upswing in housing sales in the coming quarters."
Average Price Movement
Average residential prices rose by a meagre 1% quarterly, but the annual
rise has been 11% in the top 7 cities. The annual growth rate has certainly
seen a downward trend in the quarter.
“NCR led the pack in Q2 2025 with a striking 27% year-on-year surge and
a 4% quarterly rise in residential prices," says Puri. "Bengaluru
followed with a robust 12% annual jump, underscoring strong momentum in key
markets. If prices remain in check, expect housing sales across major cities to
accelerate in the coming quarters.”
New Launches
The top 7 cities saw around 98,625 new units launched in Q2 2025,
against 1,17,165 units in Q2 2024 - a 16% decline. The key cities contributing
to new launches in Q2 2025 were MMR (Mumbai Metropolitan Region), NCR, Pune,
and Bengaluru, which together accounted for 78% of the supply addition.
· MMR saw approx.
28,165 units launched in Q2 2025 – decreasing by 8% over Q1 2025 and over 36%
on yearly basis. More than 59% of the new supply was added in the sub-INR 80
lakh budget segment.
· NCR saw a
whopping 69% increase in new launches against Q1 2025 with approx. 18,760 units
launched in Q2 2025. On yearly basis, there was a 10% increase. A whopping 82%
new supply in Q2 was added in the luxury segments (priced >INR 1.5 Cr.)
· Bengaluru added approx.
15,345 units in Q2 2025, declining quarterly by 26%. On a yearly basis, there
was 4% decline. Approx. 92% of the new supply was in the premium and
luxury segments (INR 80 lakh onwards)
· Pune added approx.
14,220 new units in Q2 2025, compared to 16,860 units in Q1 2025 – a decrease
of 16%. Annually, the city recorded a 25% supply decline. Over 77% of the new
supply in Q2 2025 was added in the mid and premium segments (INR 40 lakh to INR
1.5 Cr.)
· Hyderabad added approx.
11,105 units in Q2 2025, a quarterly increase of 8% but a 19% decline against
the corresponding period in 2024. Over 50% of the new supply was in the
ultra-luxury segment (>INR 2.5 Cr.)
· Chennai added approx.
8,525 units in Q2 2025, a quarterly increase of 79% against Q1 2025 and an annual
increase of 65%. Over 79% of new supply was added in the mid and premium
segments.
· Kolkata added approx.
2,505 units in Q2 2025, a decrease of 54% over Q1 2025 and a 17% rise against
Q2 2024. Approx. 48% of the new supply was added in the mid segment (INR 40
lakh – INR 80 lakh.)
|
City-wise Supply (In Units) and
Percentage change |
|||||
|
Cities Name |
Q2 2025 |
Q1 2025 |
% Change (Q1-2025 Vs Q2-2025) |
Q2 2024 |
% Change (Q2-2024 Vs Q2-2025) |
|
NCR |
18,760 |
11,120 |
69% |
17,030 |
10% |
|
MMR |
28,165 |
30,755 |
-8% |
44,120 |
-36% |
|
Bangalore |
15,345 |
20,855 |
-26% |
16,015 |
-4% |
|
Pune |
14,220 |
16,860 |
-16% |
18,920 |
-25% |
|
Hyderabad |
11,105 |
10,275 |
8% |
13,750 |
-19% |
|
Chennai |
8,525 |
4,755 |
79% |
5,180 |
65% |
|
Kolkata |
2,505 |
5,400 |
-54% |
2,150 |
17% |
|
Total |
98,625 |
1,00,020 |
-1% |
1,17,165 |
-16% |
Source: ANAROCK Research
Overall Sales Overview
Approx. 96,285 units were sold in Q2 2025 across the top 7 cities – a
quarterly increase of 3% over Q1 2025. NCR, MMR, Bengaluru, Pune, and Hyderabad
together accounted for 90% sales in the quarter. Annually, the top 7 cities
recorded a 20% sales decline (approx. 1,20,335 units were sold in Q2 2024.)
· NCR saw sales
grow 14% Q-o-Q – from approx. 12,520 units in Q1 2025 to approx. 14,255 units
in Q2 2025.
· MMR witnessed the
highest sales of approx. 31,275 units in Q2 2025, against 31,610 in Q1 2025 –
declining by 1% Q-o-Q and 25% annually.
· Pune saw approx.
15,410 units sold in Q2 2025, down by 4% over Q1 2025 and 27% annually.
· Bengaluru saw housing
sales increase by 1% in Q2 2025 against Q1 2025, with approx. 15,120 units sold
in the quarter. Annually, sales declined by 8%.
· Chennai saw approx.
5,660 units sold in Q2 2025 – increasing by 40% against Q1 2025. Annually, it
saw a 11% rise in sales.
· Hyderabad saw approx.
11,040 units sold in the quarter, rising by 9% over Q1 2025. Annually, sales
declined by 27%.
· Kolkata saw housing
sales decrease by 10% in the quarter against Q1 2025, with approx. 3,525 units
sold in Q2 2025. Annually, the city saw sales decline by 23%.
|
City-wise Absorption (In Units) and
Percentage change |
|||||
|
Cities Name |
Q2 2025 |
Q1 2025 |
% Change (Q1-2025 Vs Q2-2025) |
Q2 2024 |
% Change (Q2-2024 Vs Q2-2025) |
|
NCR |
14,255 |
12,520 |
14% |
16,550 |
-14% |
|
MMR |
31,275 |
31,610 |
-1% |
41,540 |
-25% |
|
Bangalore |
15,120 |
15,000 |
1% |
16,355 |
-8% |
|
Pune |
15,410 |
16,100 |
-4% |
21,145 |
-27% |
|
Hyderabad |
11,040 |
10,100 |
9% |
15,085 |
-27% |
|
Chennai |
5,660 |
4,050 |
40% |
5,100 |
11% |
|
Kolkata |
3,525 |
3,900 |
-10% |
4,560 |
-23% |
|
Total |
96,285 |
93,280 |
3% |
1,20,335 |
-20% |
Source: ANAROCK Research
Unsold Inventory
Unsold inventory across the top 7 cities saw a marginal quarterly
increase in the quarter - to approx. 5.62 lakh units by Q2 2025-end against
approx. 5.60 lakh units in Q1 2025.
Annually, unsold inventory decreased by 3% across the top 7 cities, with
Pune witnessing the highest yearly decline of 15% - from approx. 94,770 units
by Q2 2024-end to approx. 80,240 units by Q2 2025-end.
