New Delhi. Home sales in India's top 9 cities declined to 98,019 units in the fourth quarter of 2025 from 1,16,137 units in the same period a year ago, due to decline in demand in the real estate sector and decline in new launches of residential properties. Barring Navi Mumbai and Delhi-National Capital Region (NCR), the remaining seven cities recorded a decline in sales. PropEquity, a company that analyzes real estate data, said on Wednesday that this is the lowest sales on a quarterly basis recorded after July-September, 2021.
These figures relate to primary residential markets. The other seven cities are Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune. Sameer Jasuja, Founder and CEO, PropEquity, said, “Traditionally the October-December period sees a significant uptick in sales due to festivals and the launch of new projects.
What is the reason for the decline in property sales?
Of the nine cities, only Navi Mumbai and Delhi-NCR witnessed a growth in sales in the quarter, growing by 13 per cent and 4 per cent respectively. The remaining seven cities recorded a decline, with sales falling by 31 percent. On a quarter-on-quarter basis, total housing sales declined by just 2 percent in the quarter. Demand from homebuyers declined to 98,019 units, a decline of 16 per cent compared to last year and a decline of 2 per cent compared to Q3 2025.
However, the recent decline reflects a trend in the market towards 'premium' products as evidenced by price increases despite decline in volumes.' PropEquity is owned by P.E. Analytics Limited, an NSE-listed company.
Why did home sales decline in Bengaluru?
Bengaluru, one of the country's largest housing markets, saw sales of 15,603 units, down 7 per cent from the previous quarter but almost the same on a year-on-year basis. Chennai and Kolkata witnessed a steep decline of 16 per cent compared to the previous quarter, with year-on-year sales down by 3 per cent and 11 per cent respectively.
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Navi Mumbai, on the other hand, emerged as a strong outperformer, with sales growing by 17 per cent QoQ and 13 per cent YoY. Pune saw the biggest decline among major markets, where absorption dropped to 15,788 units, 31 per cent lower than last year.
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