India's Top Housing Markets Mixed in Q3 2025: Mumbai, Delhi Lead Sales, Overall Numbers Dip
The July-September 2025 period saw mixed trends in India's top housing markets. While Mumbai, Delhi, and Bangalore led in sales, overall numbers dipped, and key regions like Mumbai and Pune experienced significant drops in their salesforce.
PropEquity data revealed that Mumbai, Delhi, and Bangalore reported the highest salesforce of residential units in the July-September 2025 period. However, housing sales in India's top 9 cities fell 4% year-on-year (YoY) and 1% quarter-on-quarter (QoQ) to 1,00,370 units during this period.
CREDAI-MCHI, a leading industry body, expects demand to bounce back in the festive season. They cite strong demand drivers and infrastructure upgrades in the Mumbai Metropolitan Region (MMR) and Pune as reasons for optimism. These two regions together account for nearly half of India's housing market, indicating their dominance in the salesforce.
The Mumbai region and Pune, however, experienced a 17% drop in housing sales in July-September 2025, with a total of 49,542 units sold. This decline was attributed to lower demand and increased property prices. In Pune, sales fell by 16% to 17,762 units in the same period. Sales in Thane, Mumbai city, and Navi Mumbai also decreased by 28%, 8%, and 6% respectively during this period.
Despite the recent dip in sales, investor confidence remains strong, supported by stable interest rates and regulatory clarity under RERA. End-user demand is also intact, with short-term fluctuations attributed to a high base effect and cautious launches, according to CREDAI-MCHI members. The industry body anticipates a rebound in demand during the upcoming festive season.
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