NEW DELHI: Housing sales in India is likely to have fallen 9% year-on-year in the July-September quarter of calendar year 2025 (Q3 2025). According to Anarock data, approximately 97,080 units were sold across the top 7 cities in Q3 2025, against 1.07+ lakh units in Q3 2024. Despite lower overall sales volume, total sales value in the period went up by 14% - from Rs 1.33 lakh crore in Q3 2024 to Rs 1.52 lakh crore in Q3 2025.
Anarock stated that despite the monsoons and the perceived inauspicious ‘shraad’ period, housing sales in Q3 rose 1% quarter-on-quarter in Q3. Overall, the housing market is so far reasonably steady in 2025, with expectations for a festive boost ahead for which developers have several projects lined up, it added.
Anuj Puri, Chairman of ANAROCK Group, said that the impact, if any, of the new H1-B visa norms announced by the US on Indian residential market bears close monitoring.
“While housing affordability remains a challenge across cities for many buyers, price growth has tapered down moderately compared to the previous few years, when we saw double-digit yearly growth in the top 7 cities,” added Puri.
After staggering year-on-year average price growth in the last three years, the top 7 cities saw average price growth of 9% annually - from Rs 8,390/sq. ft. in Q3 2024 to Rs 9,105/sq. ft. in Q3 2025. Among the top 7 cities, NCR saw the highest 24% annual jump in average prices. On a quarterly basis, average prices in the top 7 cities rose by 1%, as per Anarock data.
Mumbai Metropolitan Region (MMR) recorded the highest sales among the top 7 cities in Q3 2025, with approx. 30,260 units sold - a quarterly decrease of 3 percent and a 16 percent yearly drop. Pune saw approx. 16,620 units sold in Q3 2025, a decrease of 13 percent y-o-y.
The National Capital Region (NCR) saw approx. 13,920 units sold in Q3 2025, a decline of 11 percent over last year. Bengaluru sold approx. 14,835 units in Q3 2025, a yearly decline of 1percent.
Hyderabad saw approx. 11,305 units sold in Q3 2025, decreasing by 11% over Q3 2024. Kolkata saw approx. 4,130 units sold in Q3 2025, increasing by 4% over the corresponding quarter in 2024. Chennai saw approx. 6,010 units sold during the quarter, increasing by a significant 33% y-o-y.
Supply-wise, the top 7 cities saw 96,690 units launched in Q3 2025, against 93,750 units in Q3 2024, a 3% annual increase. On a quarterly basis, there was a 2% drop. MMR, Pune, Bengaluru and NCR together accounted for 78% of the total addition.
As per Anarock, unsold inventory across the top 7 cities collectively saw only a marginal annual decline, standing at approx. 5,61,756 units by Q3 2025-end. In the previous quarter, inventory remained steady at approx. 5,62,148 units.
In terms of budget segments, the Rs 1.5 crore and above luxury housing category witnessed the highest new supply of 38 percent, followed by the premium (Rs 80 lakh – Rs 1.5 crore) segment with a 24 percent share. The mid-segment (Rs 40–80 lakh) contributed a 23 percent share of the total new supply in the quarter, while the affordable segment's share was the lowest at 16 percent.