By Ai Powered PMC Akbar Jiwani
Special Correspondent: Realestate, Realnewsofindia.com
MUMBAI, 30 September 2026: India’s housing market has posted a modest recovery in the July-September quarter of 2026. Sales across the top seven cities rose 3% year-on-year to 100,220 units, according to property consultant Anarock. This comes after several quarters of moderation, and the recovery came despite geopolitical uncertainty and other economic pressures.
The total value of homes sold rose 2% year-on-year to Rs 1.55 trillion. On a quarter-on-quarter basis, sales rose 10% and supply rose 8%. For the first nine months of 2026, sales rose 2% year-on-year to 292,610 units. Q1 2026 sales had fallen 7% and Q2 2026 sales had fallen 6% year-on-year. Sales fell 14% across 2025.
MMR AND BENGALURU LEAD
The Mumbai Metropolitan Region (MMR) recorded the highest sales at 31,750 units, followed by Bengaluru at 16,670 units. Together the two markets accounted for 48% of all sales in the top seven cities, said Anuj Puri, Chairperson, Anarock Group.
On annual growth, Hyderabad led with a 15% rise, followed by Bengaluru at 12% and MMR at 5%. All other top cities individually recorded a year-on-year dip in sales, Puri said.
NEW LAUNCHES SURGE 18%
New supply rose 18% year-on-year to 114,320 units. MMR led launches with 37,500 units, followed by Hyderabad at 18,950 units. Hyderabad’s new supply more than doubled, rising 120% year-on-year, while MMR rose 27% and Bengaluru 17%.
Mid-premium and premium homes dominated the new launches. Homes priced between Rs 80 lakh and Rs 1.5 crore made up 34% of new supply, and homes priced between Rs 1.5 crore and Rs 2.5 crore made up 24%.
INVENTORY AND PRICES RISE
Unsold inventory rose 12% year-on-year to 630,590 units, from 561,760 units a year earlier. Average residential prices across the top seven cities rose 7% year-on-year to Rs 9,714 per sq ft. The National Capital Region recorded the sharpest increase at 12%.
OFFICE LEASING ALSO STRONG
The commercial segment also held up. Colliers India data shows office leasing in the top markets rose 9% year-on-year to 18.7 million sq ft in Q3, up 7% from 17.4 million sq ft in Q2. Bengaluru led with 5.2 million sq ft, followed by Delhi-NCR at 3.3 million sq ft. Flexible-space operators took 4 million sq ft, up 49%. Vacancy stood at 16%, and average rentals rose 7% year-on-year. Arpit Mehrotra, Managing Director, Office Services, Colliers India, said Colliers sees 2026 potentially recording 75-80 million sq ft of office transactions.
DIFFERENT DATA SETS, DIFFERENT PICTURES
Industry trackers do not fully agree on the quarter. PropEquity, which covers nine cities, reported Q3 sales of 103,170 units, down 6% year-on-year and 4% quarter-on-quarter. Its new launches fell 15% quarter-on-quarter to 98,165 units. PropEquity said Navi Mumbai (+12%) and Hyderabad (+11%) saw sales growth, while Pune (-16%) and Chennai (-17%) declined. PropEquity Founder and CEO Samir Jasuja noted that leading cities have run at roughly one lakh units a quarter for both supply and absorption for nearly two years.
Separately, the India Housing Report (September 2026) by NAR India and CRE Matrix found that MMR overtook NCR as India’s biggest Tier-1 housing market by primary sales value in H1 2026, with a 26% share against NCR’s 19%. Gurugram’s sales value fell about 33% as the luxury segment corrected, while Navi Mumbai and Raigad sales value rose 29%.
WHAT IT MEANS
Differences in city coverage and methodology explain the gap between the trackers. The common thread across all three reports is a shift from price-led growth to volume-led, end-user demand, with Hyderabad, Bengaluru and the Mumbai region as the main drivers, while developers stay watchful on inventory levels.
Sources: Anarock and Colliers India data via Business Standard (28 Sep 2026); PropEquity via Outlook Money (26 Sep 2026); NAR India-CRE Matrix India Housing Report via Business Today (26 Sep 2026).
