Housing Sales Fall 19% Across Nine Cities; New Supply Drops 30% in Q2 2025
Mahalunge - Maan TP Scheme Gets State Approval; Implementation Authority Yet To Be Finalised ( Representative Image )
Mumbai sees sharpest decline in both sales and new launches; Delhi-NCR and Chennai buck the trend
India’s housing market has taken a significant hit in the second quarter of 2025, with housing sales across nine major cities dropping by 19% year-on-year to 94,864 units, and new supply declining by 30% to 82,027 units, according to data released by PropEquity.
The most notable slump was witnessed in Mumbai, where sales plummeted 34% to 8,006 units compared to the same period last year, while new housing supply crashed by 61% to just 4,949 units. Thane mirrored this trend, with both sales and supply dropping by 34% and 58% respectively.
Out of the nine cities surveyed, seven recorded a year-on-year decline in sales. Only Delhi-NCR and Chennai saw positive growth, Delhi-NCR sales rose by 16% and Chennai by 9%.
On the supply side, six cities experienced a fall in new launches. However, Delhi-NCR again stood out with a 37% increase in new housing stock, followed by Hyderabad at 19% and Chennai at 6%.
“This is the first time since Q3 2021 that quarterly housing sales have fallen below the 1 lakh unit mark. Supply, too, has remained under 1 lakh units for the fourth consecutive quarter,” said Samir Jasuja, Founder and CEO of PropEquity. He attributed the dip in cities like Mumbai, Bengaluru, and Navi Mumbai to a market stabilisation following record highs in 2023 and 2024.
Delhi-NCR’s growth was largely driven by new project launches in Ghaziabad and Greater Noida, Jasuja added.
In Navi Mumbai, sales dropped 17% to 6,833 units, while new supply fell sharply by 56% to 4,592 units. Pune also saw a significant decline, with sales down 27% to 17,196 units and new supply reduced by 40% to 14,845 units.
The downturn in both housing sales and supply across most urban centres indicates a cooling phase in the real estate cycle, especially after two years of high activity.
