Mumbai Metropolitan Region (MMR) and Pune together made up nearly 48 per cent of all housing sales, despite annual drops of 25 per cent and 27 per cent respectively
According to the report, despite the overall slowdown, the Mumbai Metropolitan Region (MMR) and Pune remained the top-performing markets. Representational Pic/File
India’s top seven cities witnessed a 20 per cent year-on-year decline in housing property or real estate market sales in Q2 2025, according to a report by ANAROCK Research. Approx. 96,285 units were sold in the quarter, down from over 1.20 lakh units in the same period last year.
According to the report, despite the overall slowdown, the Mumbai Metropolitan Region (MMR) and Pune remained the top-performing markets, jointly accounting for nearly 48 per cent of total sales. MMR sold approx. 31,275 units, down 25 per cent from last year, while Pune recorded 15,410 units, marking a 27 per cent drop.
The report attributes the slowdown to rising property prices and geopolitical tensions, but also notes a 3 per cent quarter-on-quarter growth, signalling early signs of market recovery.
The ANAROCK Research report stated that around 96,285 homes were sold in the top 7 cities this quarter, down from 1.20 lakh units in Q2 2024.
However, the sales have grown 3 per cent quarter-on-quarter (QoQ), suggesting that the market may be stabilising after recent disruptions such as geopolitical tensions and rising property prices.
Among the top cities, Chennai stood out with an 11 per cent yearly increase in sales and a massive 40 per cent QoQ jump, reaching approx. 5,660 units sold.
Meanwhile, Mumbai Metropolitan Region (MMR) and Pune together made up nearly 48 per cent of all housing sales, despite annual drops of 25 per cent and 27 per cent respectively.
The report stated that the developers launched approx. 98,625 new units in Q2 2025 -- a 16 per cent fall from Q2 2024. However, supply held steady QoQ, down just 1 per cent .
The Mumbai Metropolitan Region led with the highest number of new launches (28,165 units), though this was a 36 per cent annual drop.
On the other hand, the National Capital Region (NCR) posted a 69 per cent quarter-on-quarter jump in new launches, driven largely by high-end housing.
The report suggests that the market continues to favour the luxury and ultra-luxury segments (priced above Rs 1.5 crore), which made up 46 per cent of all new supply. Affordable homes (below Rs 40 lakh) accounted for only 12 per cent of new launches.
It said that the average home prices across the top cities rose by 11 per cent year-on-year, though growth slowed to just 1 per cent this quarter.
The NCR saw the highest price hike of 27 per cent YoY, followed by Bengaluru (12 per cent ) and Hyderabad (11 per cent ).
Despite slower sales, unsold inventory across major cities dropped 3 per cent annually, with Pune recording the biggest decline at 15 per cent.
Anuj Puri, ANAROCK Chairman said, "The second quarter was affected by “war-like conditions” including Operation Sindoor and the Iran-Israel conflict, which made many buyers cautious. However, softening home loan rates and a recent RBI repo rate cut are expected to boost demand. While the yearly dip is steep, the quarterly rise hints at a potential rebound.”
He said, “If prices remain steady, we could see housing sales pick up in the coming quarters.”
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