Mixed Trends in India's Housing Market: Mumbai, Pune, and Delhi-NCR Show Decline

India's top eight housing markets experienced a one per cent dip in sales during the July-September quarter, totaling 95,547 units, as reported by PropTiger. This decline was mainly observed in Mumbai, Pune, and Delhi-NCR.

Despite the decrease in sales volume, PropTiger highlighted a notable annual surge of 14 per cent in the total value of properties sold, reaching Rs 1.52 lakh crore. Aurum PropTech Executive Director Onkar Shetye explained that the market is undergoing a shift towards a sustainable phase driven by value growth rather than volume.

Significant growth was recorded in Bengaluru, Hyderabad, Chennai, and Kolkata. Meanwhile, Mumbai's housing sales fell by 22 per cent, Pune by 28 per cent, and Delhi-NCR by 21 per cent. As India approaches the festive quarter, stability in interest rates and policy reforms, like GST reduction on cement, are expected to support market recovery.