Q1 2025 Sees Housing Sales Dip 28% Y-o-Y in
Top 7 Cities, Launches Decline 10%
- Approx. 93,280 units sold across the top 7 cities in Q1 2025 against over 1.30 lakh units in Q1 2024
- MMR & Pune account for
51% of total sales; Hyderabad records the highest 49% yearly drop in
sales, Bengaluru lowest dip at 16%
- New launches down by 10%
Y-o-Y – from approx. 1.11 lakh units in Q1 2024 to over 1 lakh units in Q1
2025
- NCR, Bengaluru & Kolkata
see a yearly jump in new supply – by 53%, 27% & 26%, respectively;
other cities see yearly drop in new launches with Hyderabad recording the
highest 55% yearly decline
- Luxury & ultra-luxury
homes (priced > INR 1.5 Cr) dominate new supply with a 42% share,
followed by premium (INR 80 lakh – INR 1.5 Cr) with 27% share; mid segment
homes priced (INR 40-80 lakh) comprises 18% share, affordable housing
(<INR 40 lakh) supply share just 12%
- Unsold inventory in the top
7 cities down 4% Y-o-Y basis to approx. 5.60 lakh units by Q1 2025-end;
Pune saw steepest decline of 16%, Bengaluru saw 28% increase
- Avg. property prices
in top 7 cities up 17% annually – NCR & Bengaluru see highest hikes at
34% & 20%, respectively.
Mumbai,
27 March 2025:
Skyrocketing residential prices coupled with geopolitical headwinds have slowed
the Indian housing market’s bull-run in Q1 2025. Latest ANAROCK data finds that
the year's first quarter saw sales drop 28% across the top 7 cities against the
same period in 2024. Approx. 93,280 units were sold in Q1 2025 in the top 7
cities, in sharp contrast to all-time high sales of over 1.30 lakh units in Q1
2024.
Anuj
Puri, Chairman - ANAROCK Group, says, "MMR and Pune accounted for 51% of the
total sales, with MMR seeing a 26% yearly drop and Pune a decline of over 30%.
At 49%, Hyderabad saw the highest annual drop in sales, while Bengaluru had the
lowest decline at 16%."
New
launches across the top 7 cities remained above the one lakh mark but saw a 10%
yearly decline – from approx. 1,10,865 units in Q1 2024 to approx. 1,00,020
units in Q1 2025.
"Notably,
MMR and Bengaluru saw the maximum new supply in Q1 2025, accounting for 52% of
the total new launches across the top 7 cities," adds Puri. "While
MMR saw new supply drop by 9% annually, Bengaluru saw new supply increase by
27% in this period. NCR, Bengaluru and Kolkata saw supply rise by 53%, 27% and
26%, respectively, while the other cities recorded supply declines - with
Hyderabad recording the highest 55% yearly decrease."
Though
new launches stayed above the 1 lakh mark in Q1 2024, unsold inventory dropped
by 4% annually – from approx. 5,80,890 units by Q1 2024-end to approx. 5,59,810
units by Q1 2025-end. Among the top cities, Pune saw the highest decline of 16%
in its available stock in Q1 2025. In contrast, Bengaluru saw its unsold stock
rise by a significant 28% - to approx. 58,660 units - by Q1 2025-end.
“India's overall
economic scenario remains positive, with GDP growth rate pegged to be the
highest globally and inflation also under control," says Puri.
"However, rising housing prices and global headwinds like ongoing
geopolitical tensions and a weak global economy, has taken their toll on
India's residential market activity. These factors cascaded down into the
housing market in Q1 2025.”
New Launch Overview
The top 7
cities saw approx. 1,00,020 units launched in Q1 2025, against approx. 1,10,865
units in Q1 2024 - a 10% decline. The key cities contributing to new launches
in Q1 2025 were the Mumbai Metropolitan Region, Bengaluru, Pune, and the
National Capital Region, which together accounted for 80% of the quarter's
supply addition.
- MMR saw approx. 30,755 units launched in Q1 2025 – a decline of approx. 9% over Q1 2024. Over 56% of the new supply was in the sub-INR 80 lakh budget segment.
- Bengaluru added approx. 20,855 units
in Q1 2025 - a yearly rise of 27%. Approx. 53% of the new supply was in
the luxury segment priced > INR 1.5 Cr.
- Pune added approx. 16,860 new
units in Q1 2025 compared to approx. 18,770 units in Q1 2024, marking a
10% drop. Approx. 79% of the new supply was in the mid and premium
segments (INR 40 lakh – INR 1.5 Cr.)
- NCR saw new supply increase by
a massive 53% over Q1 2024, with approx. 11,120 units launched in Q1 2025
against approx. 7,270 units in Q1 2024. Notably, 70% of the new supply was
in the ultra-luxury segment (priced >INR 2.5 Cr.).
- Hyderabad added approx. 10,275 units
in Q1 2025 - a yearly decline of 55% over the same period in 2024 when
approx. 22,960 units were launched. Over 70% of the new supply was in the
luxury & ultra-luxury segments (priced >INR 1.5 Cr).
- Chennai added approx. 4,755 units
in Q1 2025, marking a 35% decline. At least 81% of the new supply was in
the mid and premium segments (priced within INR 40 lakh to INR 1.5 Cr)
- Kolkata added approx. 5,400 units
in Q1 2025, a 26% rise over Q1 2024. Approx. 59% of the new supply was in
the affordable and the mid segments (priced up to INR 80 lakh.)
|
City wise New Supply (In Units) and
Y-o-Y % change |
|||
|
Cities Name |
Q1-2025 |
Q1-2024 |
% Change (Q1-2024 Vs Q1-2025) |
|
NCR |
11,120 |
7,270 |
53% |
|
MMR |
30,755 |
33,800 |
-9% |
|
Bangalore |
20,855 |
16,485 |
27% |
|
Pune |
16,860 |
18,770 |
-10% |
|
Hyderabad |
10,275 |
22,960 |
-55% |
|
Chennai |
4,755 |
7,290 |
-35% |
|
Kolkata |
5,400 |
4,290 |
26% |
|
Total |
1,00,020 |
1,10,865 |
-10% |
Source: ANAROCK Research
Sales Overview
Approx.
93,280 units were sold in Q1 2025 – a 26% decrease over Q1 2024. NCR, MMR,
Bengaluru, Pune, and Hyderabad together accounted for 91% of sales in the
quarter.
- MMR saw the highest housing
sales with approx. 31,610 units in Q1 2025, decreasing by 26% over Q1 2024
when approx. 42,920 units were sold.
- Pune saw approx. 16,100 units
sold in Q1 2025, decreasing by 30% over Q1 2024 when approx. 22,990 units
were sold.
- Bengaluru saw approx. 15,000 units
sold in Q1 2025 - a 16% decline of against Q1 2024 when approx. 17,790
units were sold.
- NCR saw a 20% decline in sales
– from approx. 15,650 units in Q1 2024 to approx. 12,520 units in Q1 2025.
- Hyderabad saw approx. 10,100 units
sold in Q1 2025, a 49% decline over Q1 2024 when approx. 19,660 units were
sold.
- Chennai saw approx. 4,050 units
sold in Q1 2025 – a 26% decline over Q1 2024 when approx. 5,510 units were
sold.
- Kolkata also saw sales decline by
31% – from approx. 5,650 units in Q1 2024 to approx. 3,900 units in Q1
2025.
|
City wise Absorption (In Units) and
Y-o-Y % change |
|||
|
Cities Name |
Q1-2025 |
Q1-2024 |
% Change (Q1-2024 Vs Q1-2025) |
|
NCR |
12,520 |
15,650 |
-20% |
|
MMR |
31,610 |
42,920 |
-26% |
|
Bangalore |
15,000 |
17,790 |
-16% |
|
Pune |
16,100 |
22,990 |
-30% |
|
Hyderabad |
10,100 |
19,660 |
-49% |
|
Chennai |
4,050 |
5,510 |
-26% |
|
Kolkata |
3,900 |
5,650 |
-31% |
|
Total |
93,280 |
1,30,170 |
-28% |
Source: ANAROCK Research
Price Movement
Average
residential property prices across the top 7 cities saw a significant jump in
the last one year – ranging between 10-34% in Q1 2025 - when compared to Q1
2024. This was primarily due to steep new supply additions in the luxury and
ultra-luxury segment, and overall strong demand. NCR and Bengaluru recorded the
highest annual price jump of over 34% and 20%, respectively.
Unsold Inventory
Despite a
supply of over one lakh new units in the top 7 cities in Q1 2025, overall
available inventory dropped by 4% in Q1 2025 when compared to Q1 2024. The
total available inventory in the top 7 cities as of Q1 2025-end stands at
approx. 5.60 lakh units. At 16%, Pune saw the highest reduction in unsold
inventory in Q1 2025 when compared to Q1 2024.
