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India’s Top Residential Markets See 2% Sales Decline as Luxury Homes Surge

Sales declines in mid-tier and budget segments contrast with an unprecedented surge in high-end transactions.

As many as 1.7 lakh homes have been sold in H1 2025, Mumbai led with 47,035 units, followed by NCR (26,795) and Bengaluru (26,599), a report by Knight Frank India has said (Representational photo) (Photo by Sunil Ghosh / Hindustan Times)
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Mumbai Real Estate

Overview

  • H1 2025 housing sales across eight major metros fell 2% year-on-year to 170,201 units
  • Hyderabad and Chennai bucked the downturn with 3% and 12% growth respectively while Mumbai held steady at 47,035 units
  • Homes priced above ₹1 crore rose 17% in sales share and Delhi-NCR ultra-luxury deals worth ₹50 crore+ jumped 2,550%
  • New project launches dipped 2% to 179,740 units and the Quarters-to-Sell ratio remained balanced at 5.8 quarters
  • Sequential RBI repo rate cuts and major infrastructure projects such as the Delhi-Mumbai Expressway have driven buyer interest toward premium corridors