Mumbai, October 07, 2025 — India’s residential real estate market maintained steady growth in the third quarter of 2025, driven by strong demand for premium homes. According to Knight Frank India’s quarterly update, 87,603 housing units were sold across the top eight cities in Q3 2025 — a 1% year-on-year (YoY) increase, defying expectations of a slowdown.

Supply remained stable, with 88,655 new units launched, a marginal 2% YoY decline. Price growth persisted across all markets, underpinned by easing inflation, improved liquidity, and supportive macroeconomic conditions.

Inflation cooled to 2.07% in August 2025, down from 3.65% a year ago. The RBI’s FY 2026 GDP forecast was raised to 6.8%, and the repo rate stood 100 bps lower than end-2024 — factors that bolstered end-user confidence and homebuying sentiment.

City-wise Residential Sales Performance — Q3 2025

Mumbai led with 24,706 units sold, contributing 28% of total sales. Chennai stood out with 12% YoY growth, its highest post-pandemic performance. NCR and Bengaluru maintained steady volumes, while Pune was the only laggard with an 8% decline.

Premium Housing Emerges as Growth Driver

Premium housing continued its upward trajectory, marking a structural shift in buyer demand. Units priced below ₹1 crore saw their share of sales decline to 48% in Q3 2025 from 54% a year earlier. In contrast, sales of homes priced over ₹1 crore rose to 52%, growing 15% YoY.

The ₹1–2 crore segment accounted for 28% of total sales, making it the largest by volume. Ultra-luxury categories like ₹10–20 crore recorded a 170% surge YoY, albeit on a lower base.

Ticket-Size Segment Sales — Q3 2025

Gulam Zia, Senior Executive Director – Valuation, Advisory and Research, Knight Frank India, observed that premium housing has “decisively taken centre stage,” reflecting changing urban aspirations for larger, better-quality homes.

New Launches See Mixed Trends

New residential launches across the top eight markets dipped slightly by 2% YoY to 88,655 units. Growth was led by Chennai (+44%) and Bengaluru (+28%), while Mumbai and NCR saw sharp declines of 19% each, weighing on overall supply.

Price Growth Remains Broad-Based

Average residential prices rose across all markets in Q3 2025, led by NCR (+19%), followed by Bengaluru (+15%) and Hyderabad (+13%). Even with moderate sales growth, robust price appreciation points to sustained demand and limited immediate supply pressures.

Inventory Health Stays Stable

The Quarters to Sell (QTS) — a key indicator of market health — remained stable at 5.8 quarters, equivalent to less than 18 months of inventory. Unsold inventory rose 4% YoY to 506,400 units, but stable sales velocity over the past eight quarters indicates healthy absorption.

Notably, unsold inventory in higher ticket-size segments (above ₹2 crore) has risen faster than in the affordable categories, particularly in the ₹20–50 crore range where QTS stretched to 14.4 quarters, indicating slower absorption in ultra-luxury homes.

Market Outlook: Plateau Phase Likely Ahead

Shishir Baijal, Chairman & Managing Director, Knight Frank India, noted that India’s housing market is now in its fifth year of an upcycle, and the YoY growth rates are beginning to rationalise. He indicated the market may be entering a prolonged plateau phase, supported by stable macroeconomic conditions and evolving buyer preferences.

Financing innovations, subvention schemes, and fiscal incentives continue to channel demand toward higher-value segments, ensuring resilience even amid geopolitical uncertainties.

Also Read: Home Sales Up By 12% In India.

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This surge reflects growing consumer confidence in newly launched properties, as homebuyers prioritize affordability and potential returns over ready-to-move-in (RTMI) homes. The trend has been steadily rising over the past five years:

• 2020: Of 1.38 lakh units sold, 28% were fresh launches.
• 2021: 34% of 2.37 lakh sold units were newly launched.
• 2022: 36% of 3.65 lakh sold units were from new launches.
• 2023: 40% of 4.77 lakh sold units were newly launched.

Bengaluru & Chennai Lead in New Launch Absorption

Among the top seven cities, Bengaluru and Chennai recorded the highest share of new supply absorption in 2024, with 53% each. Of approximately 65,230 units sold in Bengaluru, 53% were newly launched, while in Chennai, 53% of 19,220 sold units were from new launches.

NCR also saw a significant rise in new launch absorption, with over 44% of 61,900 units sold in 2024 coming from projects launched in the same year. This marks a sharp increase from just 22% of newly launched homes sold in 2019. The shift highlights a growing preference among NCR homebuyers for fresh supply, backed by financially strong developers and improved regulatory oversight post-RERA.

Investors Shift Focus to Southern Cities

Investor sentiment is also fueling the demand for fresh launches, particularly in Bengaluru, Hyderabad, and Chennai. These cities have seen a notable rise in new launch sales share, indicating increasing investor interest in properties at lower entry points.

Unlike previous years, developers are now focusing on launching projects that align with market demand, offering prime locations, optimal unit sizes, and desirable configurations. This has driven large and listed developers to actively acquire land for new residential developments. In 2024 alone, ANAROCK reported 133 land deals covering 2,515 acres, with 1,948 acres dedicated to residential projects.

City-Wise Absorption Trends

Kolkata recorded the lowest share of fresh supply absorption at 31% of approximately 18,330 units sold in 2024. However, this was still an improvement from 23% in 2019, indicating a gradual increase in new project demand.

Conclusion

The rise in new launch sales across India’s top cities signals a transformative shift in homebuyer behavior. With the dominance of reputed developers, improved market transparency, and favorable pricing in fresh launches, new projects are gaining unprecedented traction. As the demand for residential real estate continues to evolve, the preference for newly launched homes over RTMI properties is expected to remain strong, shaping the future of India’s housing market in the years ahead.

Also Read: Bhushan Kumar Of T-Series Paid Rs 167 Crore For Juhu Bungalow

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Launches: A Significant Decline

The Q3 2024 figures reveal that Mumbai emerged as the frontrunner in new housing launches, commanding a substantial 74% share of MMR’s total launches. The cities of Navi Mumbai and Thane followed with 14% and 12%, respectively. This concentration underscores Mumbai’s pivotal role in the regional housing market.

Within the launched units, the affordable and mid-end segments represented a combined 58%, with 30% attributed to affordable housing and 28% to mid-range developments. This trend suggests that despite the overall decline in launches, there remains a focus on catering to the demands of budget-conscious buyers.

Sales: A Mixed Bag

In terms of sales, the MMR recorded approximately 36,200 units sold in Q3 2024, representing a robust 34% of the national sales volume. However, this figure reflects a 13% decline compared to the previous quarter and a 6% decrease year-over-year, raising concerns about sustained demand in the market.

Mumbai’s contribution to MMR sales was substantial, accounting for 69% of the region’s total sales volume. The Peripheral Central Suburbs were particularly active, capturing 39% of the sales, while the Peripheral Western Suburbs followed with a 22% share. This indicates a shift in buyer preference towards suburban areas, where housing options may be more affordable and spacious compared to the densely populated city center.

Market Insights

The drop in both new launches and sales could be attributed to various factors, including rising interest rates, economic uncertainties, and changing buyer preferences. Despite the downturn, the continued strong demand for affordable and mid-range housing suggests that there remains a robust market segment, with many buyers actively seeking options within these price ranges.

Real estate experts suggest that developers may need to recalibrate their strategies to adapt to the current market conditions. Focus on customer-centric projects, flexible payment plans, and enhanced amenities could be pivotal in driving sales and sustaining interest in new launches.

Conclusion

As the MMR housing market navigates these fluctuations, stakeholders will need to closely monitor trends and adjust their approaches accordingly. With a significant share of national sales and a continued emphasis on affordable housing, the MMR remains a critical barometer for the overall health of India’s real estate landscape. Looking ahead, the market’s recovery will depend on a combination of strategic development, economic stability, and responsive policymaking to foster buyer confidence.

Also Read: Toll Fees Waiver for LMVs, ₹250 Crore, nothing in front of relief for MMR citizens

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Top Cities Lead the Charge

The market remains heavily influenced by the top eight cities, which together accounted for 77% of total sales and a commanding 85% of the quarterly sales value. The Mumbai Metropolitan Region (MMR) emerged as a frontrunner, contributing 24% of national sales and 27% of the sales value, with Pune following closely behind with 22,546 units sold.

Segment-wise Insights

The segment priced between ₹50 lakhs and ₹1 crore showcased the highest growth, with a 9% increase in sales quarter-over-quarter (QoQ) and a notable 10% rise in sales value. Conversely, the ultra-luxury segment experienced stagnation in the top eight cities. The ₹1 crore to ₹2 crore segment also saw moderate growth, with a 3% increase in sales QoQ and a 5% rise in sales value.

New Launches and Affordable Housing

New launches across Pan India fell by 3% this quarter. However, the less than ₹30 lakhs segment bucked the trend with an impressive 28% surge in new launches, highlighting a growing appetite for affordable housing. This positive shift is particularly pronounced in the top eight cities, where new launches in the less than ₹30 lakhs segment increased by 36%.

Tier 2 Cities Performance

Tier 2 cities experienced a mixed bag of results. While most segments saw declines in sales, the ₹1 crore to ₹2 crore segment stood out with an 8% QoQ growth. The 50 lakhs to ₹1 crore segment saw the most substantial increase in new supply, up by 21%.

Price Trends and Market Sentiment

The overall residential market witnessed a 5.71% year-over-year (YoY) price increase from June 2023 to June 2024. Noteworthy price hikes were observed in Noida and Greater Noida with a 17% YoY increase, and Ghaziabad with a 14.3% rise. Navi Mumbai saw an 8% increase in prices. Despite a broad price growth, 45% of apartment projects experienced a modest 0% to 5% increase, while 35% saw a more substantial rise of 5% to 10% YoY.

Unsold Stock and Market Dynamics

The unsold supply across Pan India decreased slightly by 0.5%, with a monthly inventory overhang of 20 months. In the top eight cities, unsold stock remained steady, maintaining a 21-month overhang, while Tier 2 cities saw a 3% reduction in unsold stock, with a monthly overhang of 16 months. The MMR region continues to hold the highest proportion of unsold inventory, comprising 30% of Pan India’s total stock and a 25-month inventory overhang.

Conclusion

The Q1 FY 25 performance of the Pan India residential market highlights a sector in transition, with notable growth in affordable housing and varying trends across different regions and segments. As the market adapts to shifting demands and economic conditions, these trends provide a mixed but optimistic outlook for future quarters.

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By Varun Singh

MMR saw approx. 16,510 units launched during this quarter – a yearly increase of approx. 52% against Q3 2020. Interestingly, the affordable and mid- segments added over 65% of the new supply.

In Q3 2021, housing sales surged 113% y-o-y across the top 7 cities – from approx. 29,520 units in Q3 2020 to nearly 62,800 units in Q3 2021. MMR accounted for 33% of the total sales, followed by NCR with a 16% share.

Meanwhile, new launches in the top 7 cities rose by 98% yearly – from approx. 32,530 units in Q3 2020 to approx. 64,560 units in Q3 2021. While MMR continued to see the highest number of new launches (of approx. 16,510 units) in the quarter, Hyderabad was close behind with a new supply infusion of approx. 14,690 units.

Interestingly, the mid-segment (homes priced INR 40-80 lakh) and premium homes (priced b/w INR 80 lakh to INR 1.5 Cr) continue to dominate new supply with 41% and 25% shares, respectively. The affordable housing segment (units priced <INR 40 lakh) saw its supply share reduce to 24% in the quarter.

Average property prices saw a 3% yearly increase across the top 7 cities – to INR 5,760 per sq. ft. in Q3 2021 from INR 5,600 per sq. ft. in Q3 2020. Bengaluru leads with an approx. 4% annual rise – from INR 4,975 per sq. ft. in Q3 2020 to approx. INR 5,150 per sq. ft. in Q3 2021.

“IT/ITeS continues to drive the bulk of housing demand in the top 7 cities,” says Anuj Puri, Chairman – ANAROCK Group. “In Q3 2021, significantly improved job security and robust hiring in the IT/ITeS and financial sectors piggybacked on record-low home loan rates and growing homeownership sentiment. The ongoing WFH culture continues to influence residential sentiment on two major fronts – overall housing demand and unit sizes. The fast-paced vaccination drive is an added sentiment booster, especially in terms of increased site visits.”

“With new launches increasing by 98% and housing sales skyrocketing by 113%, Q3 2021 stands in stark contrast to this period last year,” says Puri. “MMR and NCR together accounted for nearly 50% of the overall housing sales in the quarter,” he said.

In previous periods of unprecedented demand, housing prices invariably rose steeply. In the current pandemic period, they have remained more or less stable, and developers were actively sweetening the deal with added offers and discounts in this period, effectively keeping a lid on the overall cost of property acquisition. MMR distinguished itself with an impressive 8% y-o-y reduction in its unsold stock. Unsold inventory in the region stood at 1.92 lakh units as of Q3 2021 end. NCR saw a 3% yearly decline.

Q3 2021 Overall Sales Overview:

Residential sales stood at approx. 62,800 units in Q3 2021 across the top 7 cities, against approx. 29,520 units in Q3 2020. The y-o-y increase was 113%, and the q-o-q sales surge a stellar 156%. NCR, MMR, Bengaluru, and Pune together accounted for 79% of the sales in the quarter.

• Hyderabad recorded sales of approx. 6,735 units in Q3 2021 – a massive spike of over 300% over Q3 2020, mainly due to a continuous flow of new supply over the last 4-5 quarters.
• MMR and Pune also saw a significant sales surge in the quarter compared to other top cities – by 128% (approx. 20,965 units) in MMR and 100% (approx. 9,705 units) in Pune.
• NCR and Bengaluru saw sales in Q3 2021 increase by approx. 97% (approx. 10,220 units) and 58% (approx. 8,550 units) respectively against Q3 2020.
• Chennai saw approx. 3,405 units sold in Q3 2021 – a significant increase of 113% over Q3 2020.
• Kolkata saw 2X sales jump in Q3 2021 against Q3 2020, with approx. 3,220 units sold in this quarter.

Q3 2021 New Launch Overview:

The top 7 cities saw approx. 64,560 new units launched in Q3 2021, against approx. 32,530 units in Q3 2020 – a significant y-o-y increase of 98%. Approx. 66% of this new supply was in the mid-range and premium segments (ticket sizes sub-INR 40 Lakh to INR 1.5 Cr) during the quarter.

The key cities contributing to new unit launches in Q3 2021 were MMR, Hyderabad, Pune, and NCR, which cumulatively accounted for 77% of the supply addition.

• MMR saw approx. 16,510 units launched during this quarter – a yearly increase of approx. 52% against Q3 2020. Interestingly, the affordable and mid- segments added over 65% of the new supply.
• Hyderabad added approx. 14,690 units in Q3 2021 – a yearly increase of 67% over Q3 2020. Over 78% of the new supply was added in the sub-INR 40 lakh to INR 1.5 Cr price bracket.
• Pune added new supply of approx. 10,290 units in Q3 2021 compared to approx. 4,180 units in Q3 2020 – a massive increase of 146%. Approx. 54% of this new supply was in the mid-segment.
• NCR added approx. 8,410 units in Q3 2021 – a yearly rise of 19%. Approx. 78% of the new supply was added in sub-INR 40 lakh to INR 1.5 Cr price bracket.
• Bengaluru saw new launches increase by 32% from the previous year Q3 2020 with approx. 7,680 units launched in Q3 2021.
• Chennai added approx. 2,980 units in Q3 2021 – a y-o-y increase of 48% over Q3 2020.
• Kolkata added approx. 4,000 units in Q3 2021 – an increase of 196% over Q3 2020. Over 58% of the new supply was in the affordable segment.

Price Movements:

Residential property prices across the top cities increased by 1-4% in Q3 2021 compared to Q3 2020, mainly due to an increase in construction cost. Data reveals that the top 7 cities collectively saw average property prices increase by 3% annually – to INR 5,760 per sq. ft. in Q3 2021 from INR 5,600 per sq. ft. in Q3 2020. Bengaluru saw the highest 4% annual rise to INR 5,150 per sq. ft.

Also Read: MMR is behind these Cities in Office Leasing

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By Varun Singh

Thane the adjoining district to Mumbai, the financial capital of the country has fared better in Q2 (second quarter) of 2020.

Thane witnessed an absorption of 5,999 units in the Q2 of 2020, while Mumbai sold 2,206 units.

Thane has not just performed better than Mumbai during the lockdown period but is ahead of all top cities. Pune is close with 5,169 unit sold.

Even in terms of new launches, Thane saw 2,257 units being launched in Q2 of 2020. Whereas new launches in Mumbai stood at 906 units. The highest was in Bengaluru with 5,231 units launched in Q2 of 2020.

While Thane might have performed better than other cities, the overall picture isn’t too happy. There is a sharp decline in sales and new launches across the country due to the lockdown.

In a report released by PropEquity, a real estate data, research and analytics firm, sales of housing units dropped by 66% across top 9 cities in India in the Q2 of 2020 to 21,294 units versus 62,851 units in Q1 2020.

The sales fell primarily as the restrictions were imposed by the Indian government across the country to stop the spread of COVID-19 pandemic

The new supply or launches of housing units also decreased by 81% during the same period to 11,967 units from 63,535 units in Q1 2020 as developers hardly launched any new projects as sales went to standstill.

Most of the new launches took place after the lockdown restrictions were relaxed by May third week onwards.

“These are unprecedented times for the world economy and India is one of the hardest hit countries due to COVID-19 epidemic. Real estate sector which was slowly coming up by March was hit with a complete halt in construction and sales activities by March last week. We believe larger developers with low debt leverage will ride out the storm and will do reasonably well by Q3 onwards within the context of the new normal. We may witness resizing of units, discounts, amenities and special payment schemes to be offered by developers to create demand, especially during the upcoming festive season,” said Samir Jasuja, founder and managing director at PropEquity.

City wise trends

• Thane witnessed a decrease of 88% in new launches on a quarterly basis with new supply of 2,257 units in Q2’20, absorption stood at 5,999 units decreasing by 65% on a quarterly basis.
• Mumbai witnessed a decrease in new launches of 85% on a quarterly basis with 9,06 units launched in Q2’20 while the absorption dropped by 62% to 2,206 units.
• Pune witnessed new supply of 1,296 units in Q2’20, which is 92% lower than the launches in Q2’20, absorption also decreased by 69% to 5,169 units.
• Bengaluru saw a quarterly downfall of 45% in new launches with 5,231 units launched in Q2’20. Sales dropped by 66% to 2,818 units during the same period.
• Hyderabad saw a decline of 79% in new launches on a quarterly basis. The New launches stood at 1,239 units. Sales also fell by 73% to 1,522 units.
• Noida witnessed a 100% fall in new launches on a Q-o-Q basis. Whereas, sales decreased by 26% to 1,177 units during the same period.
• Gurgaon saw a fall of 81% in new launches as compared to the last quarter. The New launches stood at 138 units in Q2’20. Sales also decreased by 65% in the sequential quarter at 361 units.
• Kolkata witnessed 550 new launch units in Q2’20 decreasing by 73% on a Q-o-Q basis. Sales dropped by 70% to 1,046 units in Q2’20.
• Chennai saw a decline of 92% in new launches in Q2’20. The new launches stood at 350 units. Sales also decreased by 70% to 996 units in Q2’20.

Also Read: India’s costliest realty deal of 2020 at Rs 1.56 lakh psf

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By Varun Singh

Real Estate industry is one of the worst hit, because of the Coronavirus. Sales have gone down, new launches have gone down too.

Residential sales saw a 42% y-o-y drop in the first quarter of 2020, reveals the latest data by ANAROCK. In Q1 2020, residential sales in the top 7 cities stood at 45,200 units, against 78,510 units a year ago. On q-o-q basis, housing sales fell by 24%.

New launches too fell by 42% annually – from 70,480 units in Q1 2019 to approx. 41,200 in Q1 2020. Q-o-q supply also declined by approx. 21%. Yearly trends indicate that MMR and Pune recorded the maximum y-o-y drop of housing supply – by 61% and 56% respectively – while Chennai and Kolkata actually displayed positive trends with nearly 16% and 8% yearly rise.

Anuj Puri, Chairman – ANAROCK Property Consultants says, “Given the ongoing global healthcare calamity, it’s no surprise that housing sales and new project launches across India’s top 7 cities decreased both on yearly and quarterly basis. As expected, monthly data trends reveal that March – the month when most advisories and lockdown were imposed – saw a steep decline in both new launches and housing sales against the preceding two months.”

“The Government has taken an inarguably necessary hard-line stance to curtail the spread of the virus. The lockdowns have stalled construction activity and will lead to project delays in the future, but this is a reality the sector must accept and live with.”

Perhaps the only silver lining is that developers were able to shed nearly 3% of their unsold inventory in a year – from 6.65 lakh units in Q1 2019 to over 6.44 lakh units in Q1 2020. On a quarterly basis, the decline was just 1%.

New Launch Overview – Q1 2020

The top 7 cities saw around 41,200 new units launched in Q1 2020, as opposed to 70,480 units in the corresponding period of 2019 and 51,850 units in Q4 2019.

The key cities contributing to new unit launches in Q1 2020 included MMR (Mumbai Metropolitan Region), Bengaluru, Pune, and NCR – together accounting for 80% of unit additions.

• MMR saw the launch of approx. 10,480 units – a decline of nearly 25% from Q4 2019. Over 69% of the new supply was in the sub INR 80 lakhs budget segment. Last year in Q1 2019, new launches stood at 26,850 units – a yearly decline of 61%.
• Bengaluru added approx. 8,600 units in Q1 2020 – a quarterly decrease of 18%. Over 87% of new supply was in the sub INR 80 lakh price bracket. The city’s yearly decline stood at 5%.
• Pune added approx. 7,790 new units in Q1 2020, compared to 9,550 units in Q4 2019 – a drop of 19%. The new supply a year ago was approx. 17,520 units – a decline of 56% y-o-y.
• NCR added approx. 6,190 new units in Q1 2020, a quarterly decrease of 22%. Approx. 64% of the new supply in this quarter was in the affordable segment. Last year, the new supply was 8,030 units in the same period.
• Hyderabad saw new launches drop by 11% over the previous quarter, with approx. 3,380 units launched in Q1 2020. The yearly decline was 30%.
• Chennai added approx. 3,680 units in Q1 2020, a quarterly increase of 8% over the previous quarter. Interestingly, on yearly basis, it saw a rise of 16%.
• Kolkata added only approx. 1,100 units in Q1 2020 – a significant decrease of 59% over Q4 2019. Approx. 52% of new supply was in the affordable segment. However, on yearly basis, new launches increased by 8%.

Source: ANAROCK Research

Housing Sales Overview – Q1 2020

Around 45,200 units were sold in Q1 2020 – a significant decline of 42% y-o-y, and of 24% over the preceding quarter due to the COVID-19 pandemic. NCR, MMR, Bengaluru and Pune together accounted for 84% of the sales in the first quarter of the year.

• Kolkata recorded a significant drop in sales in this quarter as compared to the other top cities. City sales decreased by 25% – from 3,260 units in Q4 2019 to 2,440 units in Q1 2020 – a significant drop of 39% in a year.
• MMR and NCR also recorded a significant decrease in sales in this quarter vis-à-vis the other top cities. Sales in both regions decreased by 24% each over the previous quarter, clocking in at approx. 8,150 and 13,910 units respectively. As compared to previous year, housing sales in MMR reduced by 42% and by 41% in NCR.
• Sales in Bengaluru, Pune and Hyderabad decreased by 23% each over the previous quarter, with approx. 8,630 units, 7,200 units, and 2,680 units respectively. On yearly basis, thedecline in the three major IT hubs stood at 45%, 42% and 50% respectively.
• Chennai saw sales of approx. 2,190 units – a decline of 21% over Q4 2019, and by 36% annually (since Q1 2019).

Source: ANAROCK Research

Unsold Inventory till Q1 2020

With new supply and housing sales remaining subdued in the quarter, unsold inventory saw a marginal decline of 1% on a quarterly basis – from 6.48 lakh units in Q4 2019 to 6.44 lakh units by Q1 2020, and 3% y-o-y– from 6.65 lakh units in Q1 2019 to 6.44 lakh units by Q1 2020. 

Bengaluru and Kolkata witnessed the highest yearly reduction in unsold inventory with 6% each from Q1 2019 to Q1 2020. However, unsold inventory increased by 10% in Chennai in the same period.

Source: ANAROCK Research

Price Movements

Residential property prices across the top cities remained stagnant in Q1 2020 over the previous quarter. On yearly basis too, there was no price movement.

 Source: ANAROCK Research

Also Read: RBI finally takes steps to counter coronavirus lockdown

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By Varun Singh

Mumbai still leads in Mumbai Metropolitan Region when it comes to new unit launches. Of the total 14,040 new units launched in entire MMR in Quarter 3 of 2019, Mumbai witnessed new supply of 9,390 units comprising 67% share, followed by Navi Mumbai which saw launch of 2,430 new units (17% share) while Thane saw 2,220 units launched during the period. This is what a report by Anarock Property Consultants says.

Anuj Puri chairman, Anarock Property Consultants said, “On year-on-year basis, new stock in Mumbai reduced by 33%. It was 14,040 units in Quarter 3 of 2018, exactly the same number of launches that is seen by entire MMR in this quarter. Quarterly decline recorded was 38%.”
The report stated that, Navi Mumbai saw its new supply reduce by 21% in the third quarter this year – from 3,060 units in Quarter 3 of 2018 to 2,030 units in Quarter 3 of 2019. On quarter-on-quarter basis, new supply declined by 34% and was 3,710 units in Quarter 2 of 2019.

Thane saw its new stock decline by 19% on year-on-year basis. It was 2,740 units in Quarter 3 of 2018 and now stands at 2,220 units in Quarter 3 of 2019. It saw 48% decline over the preceding quarter that quarter 2 of 2019. 

Of the total 17,180 units sold in entire MMR in Quarter 3 of 2019, Mumbai witnessed housing sales of 11,630 units comprising over 68% share in entire region. On year-on-year basis, the city saw its sales decline by 9%. It was 12,750 units in Quarter 3 of 2018. On quarterly basis, housing sales in Mumbai fell by 22% – from 14,850 units in Quarter 2 of 2019.

Thane witnessed yearly reduction of meagre 1% in Quarter 3 of 2019 – from 2,690 units in Quarter 3 of 2018 to 2,660 units in Quarter 3 of 2019. Q-o-Q, the city saw 16% decline in housing sales. Approx. 3,170 units were sold in Thane in Quarter 2 of 2019.

At the same time Navi Mumbai saw housing sales rise yearly by 5% – from 2,740 units in Quarter 3 of 2018 to 2,890 units in Quarter 3 of 2019. However, on quarter-on-quarter basis, sales declined by 13% from 3,340 units in Quarter 2 of 2019.

A lot of unsold stock still remains. As on Quarter 3 of 2019, MMR had an unsold stock of nearly 2,20,870 units. Of this, Mumbai comprised 66% share with approx. 1,46,380 unsold units. On yearly basis, the city was able to shed its unsold stock by 3% while quarter-on-quarter basis it only saw 1% reduction in the unsold stock.

Thane has total unsold stock of 34,950 units as on Quarter 3 of 2019, declining by 1% on quarterly basis and by 2% on year-on-year. Unsold stock as on Quarter 3 of 2018 was 35,700 units approx.

Navi Mumbai’s unsold inventory is at 39,530 units in this quarter. Quarter-on-quarter basis, inventory declined by 1% from 39,990 units in Quarter 2 of 2019. On yearly basis, the city saw its unsold stock pile by 7%. Unsold inventory was 37,000 units in Quarter 3 of 2018.

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