Despite strong housing demand and improved financial health of developers, the prolonged geopolitical tensions are casting a long shadow over project execution timelines across the country’s top seven cities.

According to the latest industry estimates, 5,40,400 housing units are slated for completion in 2026 — the highest annual delivery pipeline in over a decade. However, history suggests that such ambitious targets are highly vulnerable to external shocks.

A Reality Check from the Pandemic Playbook

The sector has seen a similar disruption before. In 2020, when the COVID-19 pandemic brought construction activity to a standstill:

• Nearly 4.66 lakh homes were scheduled for completion
• Only about 2.14 lakh units were actually delivered
• This translated to just 46% of the planned pipeline

While the current situation differs — construction activity continues and labour availability remains stable — the risks are now being driven by global factors rather than domestic lockdowns.

Where the Pressure is Highest

The impact is expected to be uneven, with certain cities more exposed than others:

• Mumbai Metropolitan Region (MMR) alone has over 2.07 lakh units lined up
• Pune is expected to deliver around 1 lakh homes
• Bengaluru adds another 69,000 units to the pipeline

Together, these three markets account for nearly 70% of the total scheduled deliveries in 2026, making them the most vulnerable to execution delays.

In contrast:

• NCR has a relatively modest pipeline of about 39,000 units
• Kolkata trails further with around 22,500 units

What’s Causing the Disruption

The ongoing Middle East conflict is impacting the housing sector through multiple channels:

• Supply chain disruptions: Delays in global shipping routes are affecting timely delivery of construction materials
• Rising commodity prices: Steel, aluminium, copper, and electrical equipment costs are seeing upward pressure
• Higher logistics costs: Increased fuel and freight rates are inflating overall project expenses
• Energy price volatility: This is directly impacting manufacturing and transportation costs

These factors are squeezing developer margins and forcing difficult decisions between maintaining timelines and managing costs.

Shift from Sales Boom to Execution Stress

The years following the pandemic saw a strong rebound in housing demand, with robust sales and increased project launches between 2021 and 2023. These projects are now reaching their final stages, resulting in an unprecedented delivery pipeline.

However, the industry narrative is now shifting:

• Earlier focus: Sales growth, price appreciation, and buyer confidence
• Current challenge: Timely execution and delivery

This marks a critical transition phase for the sector, where the ability to deliver on promises will define credibility and long-term trust.

Regulatory Pressure Adds to the Stakes

Developers today are operating under stricter regulatory oversight, particularly under RERA norms that mandate time-bound project completion. Unlike earlier cycles, delays now come with legal and financial consequences, further intensifying pressure on developers.

While stronger balance sheets and improved project monitoring technologies offer some cushion, they may not be enough to offset prolonged global disruptions.

A Defining Year for Indian Real Estate

The scale of deliveries planned for 2026 reflects the sector’s post-pandemic momentum. Between 2017 and 2025, nearly 30.5 lakh homes were delivered across the top cities — but 2026 alone aims to surpass all previous annual records.

Whether this target is achieved will depend on how the geopolitical situation evolves in the coming months.

If developers manage to navigate these challenges and deliver on schedule, 2026 could become a landmark year that strengthens homebuyer confidence and showcases the maturity of India’s real estate sector.

However, if disruptions persist, it could lead to widespread delays, cost overruns, and a potential dent in buyer sentiment — making 2026 less of a celebration and more of a cautionary tale.

Also Read: Iran Conflict Puts Dubai Real Estate Under Watch: Sentiment Shock or Structural Risk?

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The city recorded 185,657 property registrations in 2025, reflecting a 2.3% year-on-year (YoY) decline. However, stamp duty collections stood at ₹7,119 crore, registering a 0.3% YoY increase, underscoring the resilience of transaction values despite softer volumes.

Knight Frank attributed the stable revenue performance to stronger demand for higher ticket-size properties, which helped offset the dip in registration numbers.

Registrations Moderate, Revenue Hits Four-Year High

Data show that while Pune saw fewer registrations compared to the peak of 2024, stamp duty collections remained elevated:

• 2024: 190,025 registrations | ₹7,098 crore stamp duty
• 2025: 185,657 registrations | ₹7,119 crore stamp duty

This marks the highest annual stamp duty collection since 2022, highlighting a shift toward value-driven transactions rather than volume-led growth.

December 2025 Shows Normalisation, Not Slowdown

On a monthly basis, December 2025 recorded 12,079 property registrations, a 30% YoY decline, while stamp duty collections fell 28% YoY to ₹444 crore. However, Knight Frank noted that this decline was influenced by a high base effect in December 2024, which had witnessed unusually strong activity.

Registrations in December 2025 were around 10% lower than the six-month average of 13,406 units, indicating normalisation from last year’s peak levels rather than a structural weakening in demand.

Mid and Affordable Segments Continue to Dominate

The ticket-size distribution of residential transactions remained largely unchanged between December 2024 and December 2025. Homes priced up to ₹1 crore accounted for nearly 85% of transactions, reflecting sustained end-user demand in the mid and affordable housing segments.

• Under ₹25 lakh: 27%
• ₹25–50 lakh: 29%
• ₹50 lakh–₹1 crore: 29%
• Above ₹1 crore: 15%

Higher-priced homes above ₹1 crore maintained their share, reinforcing the depth of Pune’s housing demand across price brackets.

Preference for Larger Homes Sustained

Buyer preference for larger apartments remained steady through 2025. The share of homes:

• Under 500 sq ft dipped marginally from 25% to 24%,
• 500–800 sq ft remained stable at 46%, and
• Above 800 sq ft rose slightly to 30%, indicating a gradual tilt toward spacious homes.

Central Pune Continues to Lead Transactions

In December 2025, Central Pune—including Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—accounted for 67% of residential transactions, strengthening its dominance from 64% a year earlier.

West Pune followed with a 15% share, while North, South, and East Pune together contributed 18% of transactions.

Market Remains Balanced: Knight Frank

Commenting on the trends, Shishir Baijal, Chairman & Managing Director, Knight Frank India, said:

“Pune’s residential market remained structurally stable through 2025, with annual stamp duty collections touching ₹7,119 crore, the highest level recorded in the last four years. While overall registrations saw a modest moderation, higher ticket-size transactions continued to support revenue growth, highlighting the depth of end-user demand.”

He added that the moderation seen toward the end of the year reflects normalisation from last year’s peak rather than a structural slowdown, and that Pune’s housing market continues to remain balanced across price segments, apartment sizes, and micro-markets.

Also Read: India’s Real Estate Market Shows Resilience in 2025 Despite Global Headwinds

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The mega event, attended by over 3,000 families, saw Phase 1 being oversubscribed nearly three times, marking one of the most successful real estate launches in the country’s history.

3X Demand: Families Queue Up for Pune’s Most Anticipated Township

Demand for Phase 1 far exceeded expectations, with the allotment hall witnessing high energy, long queues, and families arriving hours in advance.

Buyers – ranging from tech professionals to first-time home seekers and long-term investors – expressed strong confidence in the Hiranandani legacy and the track record of Krisala Developers.

The unprecedented turnout signals Pune’s rising appetite for integrated, large-format townships that offer lifestyle, infrastructure, and long-term value in one ecosystem.

Phase 2 Coming Soon, Say Developers

Riding on the roaring success of Phase 1, the township developers confirmed that Phase 2 allotments will open soon, with expectations of similar or higher demand.

‘A Reflection of Trust,’ Says Dr. Hiranandani

Elated by the response, Dr. Niranjan Hiranandani, Chairman, Hiranandani Communities, said:

“This isn’t just a record; it reflects the deep trust that families and investors have in the Krisala–Hiranandani vision. Pune is ready for large-scale, integrated living that matches global standards. This township will redefine North Hinjawadi and become one of India’s most iconic real estate developments.”

‘People Saw a Future, Not Just a Home,’ Says Krisala CMD

Sagar Agarwal, Chairman & Managing Director, Krisala Developers, called it a proud and humbling milestone:

“Selling 1,100 homes in a single day and creating a ₹1,000 crore record is extraordinary. What moved us was the trust—buyers saw not just a home, but a future and an investment they believed in. For those who missed Phase 1, Phase 2 is coming soon, and we look forward to welcoming you.”

India’s First Branded Resort-Style Integrated Township

Spread across 105 acres, the Krisala–Hiranandani Township is positioned as India’s first branded resort-style integrated township.
It combines:

• Residential clusters
• Commercial & retail spaces
• Healthcare and education
• Leisure and hospitality zones

Designed for future-ready living, the township aims to become one of the most desirable addresses in Pune and a benchmark for integrated townships nationwide.

Also Read: Hiranandani Group Partners with Krisala Developers for Rs 7000 Crore Integrated Township in Pune

The post Krisala–Hiranandani Township Creates National Record: 1,100 Homes Allotted in a Single Day, ₹1,000 Crore Booked appeared first on Square Feat India.

The city recorded 13,557 property registrations in September 2025, a substantial rise from the 11,056 units registered in September 2024. While the volume of registrations jumped, stamp duty collections saw a more moderate 3% YoY increase, highlighting a steady, mature market. Month-on-month, both registrations and collections saw increases of 2% and 8% respectively, further underscoring the city’s robust housing demand.

The impressive September performance is partly attributed to a shift in the festive calendar. Last year, property activity was dampened by the inauspicious Shraddh period falling between September 17 and October 2, 2024. This year, the period occurred earlier (September 7–21, 2025), freeing up the latter part of the month for increased buyer activity, which was then supported by the start of Navratri on September 22.

Key Market Takeaways

• Year-to-Date Performance: Pune’s market has reached a four-year high for the first nine months of the year, with 145,651 property registrations recorded from January to September 2025. This marks a 5% increase in registrations and a 6% rise in stamp duty revenue compared to the same period last year.
• Steady Demand: Shishir Baijal, Chairman & Managing Director of Knight Frank India, noted that the market is “operating at sustainable volumes,” indicating growing maturity and enduring confidence among homebuyers.
• Ticket Size Trend: Demand remains firmly concentrated in the affordable and mid-segment, with 85% of transactions in September 2025 being for properties priced up to INR 1 crore. However, the share of homes priced above INR 1 crore marginally increased from 14% to 15%, suggesting an expanding top-end segment.
• Preference for Larger Homes: There is a sustained trend toward larger apartments. The share of units above 800 sq ft saw an uptick, rising from 26% in September 2024 to 29% in September 2025. Conversely, the share of the smallest units (under 500 sq ft) declined from 35% to 31%.
• Geographical Concentration: Central Pune, encompassing Haveli Taluka, PMC, and PCMC, continues to dominate the market, accounting for 61% of residential transactions in September 2025. However, this is a slight decline from the previous year, as developing areas like West Pune (Mawal, Mulshi, Velhe) saw its share rise to 17%, catering to evolving buyer preferences outside the core areas. North, South, and East Pune collectively contributed the remaining 22%.

Also Read: How Food & Beverage Is Changing India’s Shopping & Real Estate Spaces

The post Pune’s Property Market Soars: 23% YoY Hike in Registrations Fuels State Coffers appeared first on Square Feat India.

June 2025 alone saw 16,597 properties registered, up 13% compared to June 2024, while stamp duty collections rose 17% to INR 637 crore.

Demand for larger homes continues to gain ground. Units exceeding 800 sq ft contributed 34% of June registrations, up from 31% a year earlier. In terms of pricing, the share of homes above INR 1 crore increased to 21%, highlighting buyers’ growing appetite for premium properties.

Micro-market trends show Central Pune—covering Haveli, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—accounted for 76% of transactions in June, with West Pune’s share rising to 15%.

Commenting on the report, Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, “Crossing the 100,000 mark in just six months reflects the strength and depth of Pune’s property market. Sustained end-user demand and rising buyer confidence are driving this momentum.”

Key Tables

1⃣ Property Registrations & Stamp Duty Revenue (Half-Yearly)

2⃣ Monthly Registrations & Stamp Duty Collection

3⃣ Share by Ticket Size (June 2025)

4⃣ Share by Area Size (June 2025)

5⃣ Share by Micro-Market (June 2025)

Also Read: Notice of De-Registration Applications for 2 Pune Real Estate Projects

The post Pune Records Best Half-Yearly Property Sales in Four Years, Crosses 100,000 Registrations in H1 2025 appeared first on Square Feat India.

The report, titled Real Insight: Residential Annual Round-up 2024 by PropTiger.com, revealed that while property prices saw a significant uptick across various cities during the October-December period of 2024, the rise varied by region. In particular, the NCR housing market recorded the sharpest surge in property values, reflecting the region’s growing demand for high-end real estate. This price escalation came despite a general slowdown in price growth in some cities, like Hyderabad, which saw a more modest 3% increase after nearly a decade of strong growth.

Price Growth Across Major Cities

The report highlights property price trends in key residential markets across the country, with Delhi-NCR standing out with the highest increase. The average price per square foot in Delhi NCR rose from ₹5,445 in Q4 2023 to ₹8,105 in Q4 2024, marking a 49% YoY growth. Other major cities also saw impressive growth:

• Ahmedabad: ₹4,000 to ₹4,402 (10% increase)
• Bengaluru: ₹6,744 to ₹7,536 (12% increase)
• Chennai: ₹6,200 to ₹7,173 (16% increase)
• Hyderabad: ₹6,842 to ₹7,053 (3% increase)
• Kolkata: ₹5,100 to ₹5,633 (10% increase)
• Mumbai Metropolitan Region (MMR): ₹10,712 to ₹12,600 (18% increase)
• Pune: ₹6,140 to ₹7,108 (16% increase)

These figures suggest that the demand for residential properties across these cities continues to grow, particularly in areas with strong economic prospects and increasing infrastructural development.

NCR’s Unstoppable Growth

The NCR region’s remarkable surge in property prices can be attributed to several factors, including a thriving economy, high-net-worth individuals (HNIs) making substantial investments, and the growing presence of newly-listed start-ups. Areas like Gurugram, Noida, and Greater Noida saw significant increases in home sales, with Gurugram experiencing a 144% rise in sales YoY. Despite a nationwide dip of 26% in home sales, key NCR cities have maintained strong growth in the residential market.

The report attributes this resilience in NCR’s housing market to developers’ focus on premium housing offerings, a trend driven by the high demand from HNIs and business professionals. Developers are prioritizing luxury properties over affordable housing, thus catering to the growing demand for high-end real estate in the region.

Mumbai and Other Key Markets

Similarly, Mumbai’s residential property market saw an 18% YoY increase in property prices, driven by similar factors of demand from high-net-worth individuals, the presence of Bollywood celebrities, and Mumbai’s status as India’s financial hub. The city continues to be one of the most unaffordable housing markets in the world, attracting significant interest from both domestic and international investors.

Despite strong demand, the rising costs of building materials, land, and labor have made affordability a growing concern. As construction costs continue to climb, affordability issues are expected to deepen, especially for the middle class, which heavily relies on government subsidies for homeownership.

The Need for Policy Measures

Dhruv Agarwala, Group CEO of Housing.com and PropTiger.com, highlighted the challenges posed by the steep rise in property prices, stressing that while this growth indicates strong demand and positive buyer sentiment, it also raises concerns over affordability, particularly for lower-income buyers.

Agarwala suggested that the government must introduce policy measures to address affordability issues, particularly in light of rising inflation and slowing growth. He emphasized that positive changes in tax laws in the upcoming Budget, coupled with potential rate cuts by the Reserve Bank of India (RBI), could help ease affordability challenges for India’s growing middle class.

The PropTiger.com report underscores the need for a balanced approach to the housing market that promotes both luxury and affordable housing to ensure that all segments of society can benefit from the country’s real estate growth.

Conclusion

The 2024 property market performance reflects continued strong demand in India’s key residential markets, with Delhi-NCR and Mumbai leading the surge. However, the rising costs of materials and labor pose a challenge to affordability, urging the government and industry stakeholders to take proactive steps to ensure sustainable growth and accessibility in the housing sector.

Also Read: auction of developer property

The post Property Prices Surge Across India’s Prime Residential Markets in 2024 Amid Rising Costs appeared first on Square Feat India.

Key Highlights:

• Transaction Surge: The real estate market saw a significant increase in registered transactions, rising by 50% year-over-year, although there was a 30% quarter-over-quarter decline compared to the previous quarter.
• Record Sales Value: The average home sales value hit an all-time high of ₹69 lakh, marking a 17% increase from the previous year. This uptick reflects a growing demand for high-end and premium properties.

Market Performance:

In the June quarter, Pune’s residential segment saw 20,190 transactions with a total sales value of ₹13,995 crore, representing a 3% annual growth. The surge in average registered home sales value underscores a strong market preference for premium properties.

Suhas Paithankar, Associate Principal Partner at Square Yards, noted, “Pune continues to excel as one of India’s top real estate markets. The June quarter’s data reveals a 17% annual increase in average sales value, reaching a historic high. This reflects a robust demand driven by economic growth and shifting buyer preferences.”

Micro Market Insights:

Pimpri Chinchwad and the Western suburbs remain dominant in Pune’s residential market, with these areas accounting for 67% of total registered transactions and 64% of the sales value in Q2 2024. Pune’s central suburbs recorded the highest average transaction value at ₹1.08 crore, while Pimpri-Chinchwad offered a more affordable average transaction value of ₹56 lakh.

Leading Developers and Projects:

VTP Realty emerged as the market leader in both total registered transactions and sales value, with notable projects like VTP Verve and VTP Dolce Vita. Kolte Patil Developers and Godrej Properties followed closely, with Kolte Patil’s Life Republic and Godrej’s Urban Retreat performing strongly.

Top Developers by Registered Home Sales Value (Q2 2024):

1. VTP Realty – ₹525 crore
2. Kolte Patil Developers – ₹393 crore
3. Godrej Properties – ₹352 crore

Top Developers by Number of Registered Residential Transactions (Q2 2024):

1. VTP Realty – 573 transactions
2. Kolte Patil Developers – 422 transactions
3. Godrej Properties – 402 transactions

New Launches:

In Q2 2024, Pune saw the launch of 16,783 new residential units across 177 projects, covering nearly 15 million square feet. Pimpri Chinchwad led the new supply with 47% of the total units launched, driven by its strategic location and growing IT hub.

Square Yards’ report suggests that both local and national developers are thriving in Pune, with a diverse range of mid-to-high segment offerings catering to various buyer preferences. With the festive season approaching, the residential market is expected to experience increased activity.

Also Read: Rents Rise by 2.6% QoQ Across 13 Key Indian Cities; Ahmedabad, Pune, and Kolkata Lead in Rental Yields: Magicbricks Report

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