Ai Powered PMC Akbar Jiwani, Special Correspondent: Real Estate, for Realnewsofindia.com
Mumbai/New Delhi, 29 October 2026: India’s housing market entered the festive season with steady momentum, but a fresh monetary-policy shift has introduced caution. Residential sales in the country’s seven largest cities rose 3% year-on-year to about 1,00,220 units in July-September 2026, according to property consultant Anarock, even as the Reserve Bank of India (RBI) raised its policy repo rate for the first time in nearly four years.
Sales, launches and prices
Anarock data show sales value in the top seven cities rose 2% to about Rs 1.55 lakh crore. Sales were also up roughly 10% over the previous quarter. New launches jumped 18% to about 1,14,320 units from 96,690 a year earlier. Average residential prices rose about 7% year-on-year, with NCR up around 12% and Bengaluru about 8%. Mumbai Metropolitan Region (MMR) and Bengaluru together accounted for about 48% of all sales.
City-wise picture
MMR: 31,750 units, up 5%
Bengaluru: 16,670 units, up 12%
Hyderabad: 12,970 units, up 15% – the fastest-growing market
Pune: 15,690 units, down 6% year-on-year (about 20% higher than the previous quarter)
Delhi-NCR: 13,765 units, down 1%
Chennai: 5,395 units, down 10%
Kolkata: 3,980 units, down 4%
On the supply side, MMR saw about 37,500 launches (up 27%), Hyderabad about 18,950 (more than double the previous level) and Bengaluru about 17,720 (up 17%), while NCR launches fell 14% to about 10,900 units. Unsold inventory across the seven cities stands at about 6.31 lakh units, up around 12% year-on-year.
Rate hike adds caution
On 7 October 2026, the RBI raised the repo rate by 25 basis points to 5.50% from 5.25% and shifted its stance from neutral to “calibrated tightening”, as reported by Business Today. Higher rates could push up borrowing costs for buyers on floating-rate home loans, although the actual impact will depend on how quickly individual lenders pass on the change.
Separate data from NoBroker for the six major metros show residential launches up 32% year-on-year to 69,718 units in Q3 and housing demand up 7%, the strongest growth this year. It noted price rises in every city, led by Bengaluru (up 14.5% to Rs 11,293 per sq ft), while NCR demand softened, with Noida down 9% and Gurgaon down 8% as affordability pressures weigh.
What industry leaders say
Anuj Puri, Chairman of Anarock, said demand is resilient and that the upcoming festive season is expected to support residential demand. Umesh Gowda H A, Chairman of Sanjeevini Group, said the sector is moving towards a more mature and demand-driven phase, with buyers focusing on quality and location.
Outlook
Analysts expect Bengaluru, Hyderabad and MMR to remain the engines of growth, with NCR staying selective on affordability concerns. With launches outpacing sales and inventory rising, developers will likely lean on festive offers and end-user demand to keep absorption healthy. The key question for the coming quarters is whether higher borrowing costs dampen buyer sentiment. Homebuyers are advised to compare lender rates and verify RERA registration before committing.
Note: Figures are drawn from Anarock (via PTI), NoBroker and Business Today reports; PropEquity separately reported a 6% fall in top-city sales to 1.03 lakh units for the same quarter, reflecting differences in methodology. Please verify figures before publication.
