India’s residential real estate market continued to display resilience during the first half of 2026, with apartment sales rising 3% year-on-year despite a temporary slowdown in the second quarter, according to the latest residential market update released by JLL.
The report shows that home sales across the country’s top seven cities reached 138,382 units during January-June 2026, making it the second-highest first-half sales performance after H1 2024. While sales in the second quarter (April-June) moderated by 4% compared to the first quarter, JLL said the slowdown reflects a short-term market recalibration rather than weakening demand.
According to the report, 67,751 apartments were sold during Q2 2026 compared with 70,631 units in Q1 2026. However, the overall H1 performance remained positive, supported by sustained urbanisation, infrastructure development, improving connectivity and evolving homebuyer preferences.
Bengaluru emerged as the strongest-performing residential market during the first half of the year, recording 35,017 apartment sales, a 16% year-on-year increase. Chennai posted the highest growth rate among the seven cities, with sales surging 27% to 8,587 units.
Delhi-NCR also recorded healthy growth of 7%, with 20,761 apartments sold during H1 2026.
In contrast, Hyderabad witnessed a marginal 3% decline in sales, while Kolkata recorded a 1% dip. Mumbai remained largely stable with 28,518 apartment sales, down just 1% year-on-year, whereas Pune experienced the sharpest correction among the major markets, with sales declining 14% to 22,782 units.
Despite varying performances across cities, Bengaluru, Mumbai and Pune continued to dominate India’s housing market, together accounting for nearly 62% of total residential sales during the first half of 2026. When Delhi-NCR is included, the four largest residential markets contributed around 76% of total apartment sales.
JLL attributed the temporary moderation in second-quarter sales to seasonal factors, property price recalibration and buyers taking more time to evaluate purchase decisions amid rising housing prices.
The report notes that India’s homebuyers are increasingly prioritising quality construction, better amenities, superior locations and reputed developers over lower prices. This trend is becoming particularly evident in the premium housing segment.
The ₹1.5 crore to ₹3 crore price bracket recorded the strongest growth, with sales increasing 58% year-on-year to 51,231 units. This segment alone accounted for 37% of all apartment sales during H1 2026, up significantly from 24% a year earlier.
Overall, homes priced above ₹1 crore represented 71% of all residential sales during the period, compared with 62% in H1 2025, indicating a clear shift towards premium housing.
On the other hand, affordable and lower mid-income housing continued to lose market share. Homes priced below ₹50 lakh registered a 32% decline in sales, while the ₹50 lakh to ₹1 crore category fell by 20% year-on-year.
The report also highlighted strong developer confidence, with new residential launches increasing 9% year-on-year during H1 2026.
Developers launched 168,507 new apartments across the top seven cities during the first six months of the year.
Bengaluru led new supply with 48,748 apartment launches, representing a remarkable 41% increase over H1 2025. Mumbai followed with 33,498 new launches, registering 18% growth, while Delhi-NCR recorded a 14% increase with 24,884 units launched.
Chennai, Hyderabad, Kolkata and Pune witnessed comparatively lower launch activity during the period.
Commenting on the market, Siva Krishnan, Senior Managing Director (Chennai & Coimbatore) and Head – Residential Services, India at JLL, said the H1 performance reflects the maturity of India’s residential sector.
He noted that sustained urbanisation, infrastructure development and rising aspirations continue to support housing demand, while buyers are increasingly willing to invest in premium projects that offer better quality and long-term value.
According to Krishnan, the 9% increase in new launches demonstrates strong developer confidence, while the growing preference for homes priced between ₹1 crore and ₹3 crore highlights changing buyer aspirations.
The report also noted that residential property prices continued to rise across all seven major cities during H1 2026.
Annual price appreciation ranged between 6% and 15%, with Bengaluru recording the highest increase at 15%, followed by Chennai and Kolkata at 13% each.
JLL attributed the continued increase in housing prices to rising construction costs, strong buyer demand and developers increasingly launching premium residential projects.
Looking ahead, the consultancy expects India’s residential market to remain on a growth trajectory during the remainder of 2026.
JLL believes that improving infrastructure, expanding metro rail networks, new growth corridors, rising household incomes, better access to housing finance and stable interest rates will continue to support homebuyer demand across major cities.
While acknowledging the temporary moderation witnessed during the second quarter, the report concludes that India’s housing market fundamentals remain strong and the sector is well-positioned for sustained long-term growth.
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