Overview

• Housing sales in India’s top nine cities fell 19% year-on-year to 94,864 units in Q2 2025, marking the first dip below 100,000 since Q3 2021.
• New housing supply plunged 30% to 82,027 units over the same period, representing the fourth straight quarter under the 100,000-unit mark.
• Seven of nine major cities recorded sales declines, with Mumbai and Thane each plunging 34%, while Bengaluru and Navi Mumbai realigned to more sustainable activity.
• Delhi-NCR and Chennai bucked the nationwide slowdown with sales gains of 16% and 9% respectively, supported by fresh launches in Ghaziabad, Greater Noida and other suburbs.
• Analysts expect forthcoming RBI rate cuts to bolster mid-segment demand and support a broader market recovery.