New Delhi: Despite global economic uncertainties and geopolitical tensions, residential demand in India has remained reasonably resilient in third quarter of the calendar year (Q3 2025), with total sales value surged significant 14 per cent -- from around Rs 1.33 lakh crore in Q3 2024 to nearly 1.52 lakh crore in Q3 this year, a report said on Thursday.
The development was supported by rising incomes, urbanisation, and aspirational homeownership sentiment. However, the sector faces headwinds in affordability, costs, and uneven demand across markets as it saw a 9 per cent dip in sales volume. As many as 97,080 units of homes sold across the top seven cities in Q3 2025, against 1.07 lakh units in Q3 2024, Anarock said in its report.
Among the top seven cities, Mumbai Metropolitan Region (MMR) recorded the highest sales of around 30,260 units, followed by Pune (16,620 units). "Cumulatively, the two western cities accounted for 48 per cent of the total sales in the top 7 cities in Q3 2025. All top cities individually recorded a dip in yearly housing sales - except Chennai and Kolkata, which witnessed 33 per cent and 4 per cent yearly jumps, respectively," said Anuj Puri, Chairman, Anarock Group.
These cities saw a marginal 3 per cent increase in new housing supply, with approximately 96,690 units launched in Q3 2025 against 93,750 units in the corresponding period in 2024. Nevertheless, the fact that sales remained higher than launches indicates that the demand-supply equation remains robust. Among the cities, MMR topped new supply with 29,565 units launched in the quarter, followed by Pune with nearly 19,375 units.
"Interestingly, while the other cities saw new supply decline annually, Pune, Kolkata and Chennai saw it increase by a whopping 56 per cent and 38 per cent, respectively," the report said. The Rs 1.5 crore luxury housing category witnessed the highest new supply of 38 per cent, followed by the premium (Rs 80 lakh–Rs 1.5 crore) segment with a 24 per cent share. The mid-segment (Rs 40–80 lakh) contributed a 23 per cent share of the total new supply in the quarter, while the affordable segment's share was the lowest at 16 per cent.
Meanwhile, total available housing inventory saw only a marginal yearly decline in the top seven cities -- from around 5,64,415 lakh units by Q3 2024-end to nearly 5,61,756 lakh units by Q3 2025-end. Average residential prices in these cities collectively saw single-digit growth of 9 per cent in Q3 2025 against Q3 2024. At 24 per cent, NCR recorded the highest annual growth, followed by Bengaluru with a 10 per cent increase.
Despite the monsoons and the perceived inauspicious ‘shraad’ period, housing sales in Q3 rose 1 per cent quarterly. Overall, the housing market is so far reasonably steady in 2025, with expectations for a festive boost ahead, for which developers have several projects lined up, the report said.
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