Housing Sales Dip in Major Cities in H1 2025; Hyderabad and Chennai Defy National Trend

Housing sales across India’s top eight metropolitan cities saw a modest decline in the first half of 2025, with Hyderabad and Chennai emerging as the only markets to register positive growth, according to Knight Frank India's latest report, India Real Estate: Office and Residential Market – January to June 2025 (H1 2025).

Key Highlights of H1 2025 Housing Market Performance:

Mumbai, India's largest residential market, recorded 47,035 units sold, maintaining flat growth. New launches declined by 3% to 45,451 units.

The National Capital Region (NCR) witnessed a sharp 8% drop in housing sales, totaling 26,795 units. New project launches also fell by 17%, touching 25,233 units.

Bengaluru experienced a 3% dip in sales to 26,599 units. However, the city saw a significant 31% surge in new launches, reaching 33,498 units.

Pune recorded a 1% decline in housing sales and a 5% drop in new launches, signaling subdued activity.

Ahmedabad remained largely stable, with 9,370 units sold and a 5% increase in new project launches.

Kolkata posted the steepest decline, with an 11% drop in sales and a massive 29% fall in launches.

Cities That Defied the Trend

Unlike most major metros, Hyderabad and Chennai reported a positive upswing:

Hyderabad saw a 3% rise in residential sales, totaling 19,048 units. However, new launches dipped by 6%.

Chennai posted the highest sales growth among all cities, with a 12% increase, amounting to 8,935 units. New launches also climbed 9%, signaling strong market momentum.

National Overview: Marginal Year-on-Year Decline

Total housing sales across the top eight cities dropped 2% YoY, settling at 170,201 units in H1 2025.

New residential launches mirrored this decline, falling 2% to 179,740 units.

Despite the slowdown in overall volumes, the premium segment remained resilient:

Homes priced above ₹1 crore saw a 17% increase in sales.

The ₹2–5 crore segment registered a sharp 29% rise, indicating a surge in demand for high-end properties.

Market Outlook

The Quarters-to-Sell (QTS) ratio stood steady at 5.8, highlighting a balanced market scenario. Knight Frank’s analysts noted that the premium housing sector continues to thrive, with strong developer confidence despite headwinds in other price segments.