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.

Also Read: Luxury Housing Sales Double to 14%

The post India Home Sales Rise 3% in H1 2026 as Housing Market Remains Resilient appeared first on Square Feat India.

This marks the highest annual transaction value ever achieved by any Indian city in the ultra-premium housing segment.

Record-Breaking Growth in Luxury Segment

The data shows that nearly 1,494 ultra-luxury homes were sold in Gurugram during 2025, representing almost a tenfold jump from just 155 units in 2023. In value terms, the segment’s sales ballooned six times—from ₹4,004 crore in 2023 to over ₹24,000 crore in 2025.

The average ticket size stood at approximately ₹16 crore, highlighting a strong appetite among high-net-worth buyers for large, premium residences. In fact, homes priced above ₹10 crore accounted for 24% of the total residential market value in the city last year.

Bigger Homes, Bigger Preferences

Luxury buyers are not just spending more—they’re buying bigger. The report notes:

• Average luxury home size: ~5,000 sq. ft.
• Most popular category: 4,000–6,000 sq. ft. homes
• Homes above 8,000 sq. ft. contributed nearly 22% of total sales value

This indicates that affluent buyers are prioritizing space, privacy, and amenities over compact living.

Micro-Markets Driving the Boom

A key factor behind Gurugram’s surge has been explosive growth in emerging luxury corridors:

• Dwarka Expressway saw transaction values skyrocket 2,079%, from ₹383 crore in 2024 to ₹8,347 crore in 2025.
• Golf Course Extension Road recorded a 379% rise, with average prices climbing sharply.
• Established premium zones such as Golf Course Road witnessed steadier sales due to limited new supply.

Industry experts say infrastructure upgrades, improved connectivity, and high-quality project launches have collectively transformed these corridors into luxury hotspots.

Wealth Creation Fueling Demand

According to Tina Talwar, Area Director at India Sotheby’s International Realty, the surge is no longer confined to traditional prime locations. She notes that emerging micro-markets are now driving structural growth backed by better infrastructure and premium product offerings.

Meanwhile, Abhishek Kiran Gupta, Co-founder and CEO of CRE Matrix, attributed the surge to strong capital inflows and a rapidly expanding base of high-net-worth individuals. Record IPO activity in 2025, which created a new cohort of wealthy founders and entrepreneurs, has further strengthened demand for branded, amenity-rich developments.

A Structural Shift in India’s Luxury Housing Market

Industry observers believe Gurugram’s rise signals a broader shift in India’s real estate landscape. Ultra-premium housing is increasingly driven by:

• Domestic wealth creation
• Entrepreneurial liquidity events
• Global investor participation
• Infrastructure-led location upgrades

Even amid global uncertainties, buyer sentiment in the city remains optimistic, though more selective. Today’s luxury buyer is focusing less on speculation and more on location quality, construction standards, and long-term value.

Also Read: Structural Shift in Indian Real Estate as Luxury Homes and New-Age Buyers Drive Demand

The post Gurugram Beats Mumbai in Ultra-Luxury Race: ₹24,120 Crore Homes Sold Above ₹10 Cr in 2025 appeared first on Square Feat India.

The deceleration reflects a phase of price normalisation after two years of strong appreciation, even as demand remained resilient in select end-user-driven markets such as Bengaluru and Hyderabad.

Bengaluru, Hyderabad Buck the Trend

Among the eight major cities, Bengaluru and Hyderabad stood out with relatively stronger price momentum in 2025.

• Bengaluru recorded 13% annual price growth, up from 12% in 2024, driven by sustained end-user demand and strong absorption. During the year, prices rose 21% between Q1 and Q4 2025, pushing average values to ₹9,500 per sq. ft. in Q4, making it India’s second-most expensive housing market, overtaking Delhi-NCR.
• Hyderabad saw prices rise 8% in 2025, compared to 3% growth in 2024, supported by steady demand and balanced supply additions.

Price Growth Cools Across Other Major Markets

In contrast, price appreciation slowed considerably across the remaining six cities:

• Ahmedabad: 8% growth (down from 10% in 2024)
• Mumbai MMR: 4% growth (sharp moderation from 18% in 2024)
• Pune: 1% growth (down from 16% in 2024)
• Delhi-NCR: 6% growth (after an exceptional 49% rise in 2024)
• Kolkata: 6% growth (down from 10%)
• Chennai: Prices remained flat after a 16% rise in 2024

At an aggregate level, average housing prices across the top eight cities increased from ₹7,451 per sq. ft. in 2024 to ₹7,874 per sq. ft. in 2025.

Market Shows Consolidation, Not Weakness

According to the report, housing prices continued to firm through 2025, rising an average 8% between Q1 and Q4, indicating stability rather than overheating.

Commenting on the trend, Onkar Shetye, Executive Director at Aurum PropTech, said Mumbai MMR reflected price consolidation in its premium segments, while Pune and Ahmedabad remained broadly stable. Delhi-NCR and Kolkata saw measured growth amid selective demand, while Bengaluru and Hyderabad benefited from strong end-user-driven absorption.

He added that resilient pricing despite moderating sales volumes reflects a disciplined, supply-calibrated market, with developers protecting price integrity and managing inventory prudently heading into 2026.

Inventory Levels Remain Comfortable

The report noted that inventory overhang stayed within comfortable limits, indicating that supply did not materially outpace demand. Unsold inventory growth was more visible in higher ticket-size segments, where decision cycles are longer and liquidity is lower.

According to Shetye, the combination of stable quarterly price increments, controlled supply additions, and calibrated launches helped keep inventory levels well managed through the year.

Sales and Supply Decline in 2025

Despite price stability, housing transactions slowed during the year:

• Residential sales fell 12% YoY to 3,86,365 units in 2025, the lowest annual sales since 2022
• Q4 2025 sales declined 10% YoY to 95,049 units, the weakest quarterly performance since Q2 2023

On the supply side:

• New launches dropped 6% YoY to 3,61,096 units in 2025, the lowest since 2021
• Q4 2025 supply rose marginally by 4% YoY to 92,007 units

This combination of softer sales and moderated supply underscores a market transitioning from rapid growth to sustainable equilibrium.

Outlook for 2026

The PropTiger–Aurum PropTech report suggests that India’s housing market is entering 2026 on a stable footing, supported by disciplined developers, controlled inventory, and end-user demand in key markets. While price acceleration has cooled, the absence of distress signals points to a structurally healthier residential market.

Also Read: Property Prices Surge Significantly Along Yamuna Expressway

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