Housing sales dip 2% in top 8 cities in Q1 as MMR, Pune drag demand; Bengaluru emerges strongest market: Report

Housing sales across eight major cities fell 2 per cent year-on-year to nearly 96,000 units in January-March 2026 amid slower demand and lower fresh supply in affordable housing segments, according to a PropTiger report released on Saturday.The residential market recorded sales of 95,973 units during the first quarter of calendar year 2026 compared with 98,095 units in the corresponding period last year, PTI reported citing the consultant's Real INSIGHT – Residential Q1 2026 report.New housing supply remained largely unchanged at 93,065 units during the quarter against 93,144 units a year ago.“The Indian residential market has transitioned into a structurally more disciplined phase. Growth today is increasingly being driven by demand quality, inventory discipline, and buyer confidence rather than speculative expansion,” PropTiger CEO Prakash Tejwani said.Among major markets, Bengaluru emerged as the strongest performer, posting a 33 per cent rise in housing sales to 15,603 units during the quarter from 11,731 units a year earlier.Hyderabad recorded a 25 per cent increase in sales to 13,297 units, while Chennai saw demand rise to 6,841 units from 4,774 units. Delhi-NCR also reported an 11 per cent increase in sales to 9,447 units.However, weakness in larger western markets weighed on overall numbers.Housing sales in Mumbai Metropolitan Region (MMR) declined 15 per cent to 26,116 units from 30,705 units, while Pune recorded a steeper 21 per cent fall to 13,565 units.Ahmedabad and Kolkata also witnessed declines of 23 per cent and 24 per cent respectively.PropTiger said all eight cities continued to register year-on-year price appreciation, while inventory levels remained balanced as new launches stayed aligned with sales absorption.The report highlighted Bengaluru as a key outlier due to sustained employment growth and expansion of global capability centres (GCCs).“The GCC and startup employment engine continues to prove more durable than conventional IT hiring cycles, providing Bengaluru with a structurally differentiated demand base,” PropTiger said.Industry executives also pointed to changing homebuyer behaviour in Bengaluru.“Bengaluru's mid-segment housing is maturing. The city's professional class isn't just buying homes anymore, they're making long-term bets on Bengaluru's global relevance,” ArisUnitern RE Solutions Director Navin Dhanuka said.Sanjeevini Group Chairman and Founder Umesh Gowda H A said demand growth was being supported by stronger fundamentals rather than speculative activity.“The continued expansion of GCCs, startups, deep-tech companies and global innovation centres is creating a more diversified and resilient employment ecosystem, which is translating into sustained residential demand across key micro-markets,” he said.