Housing sales across India’s top nine cities stood at 1,03,170 units in Q3 2026, declining 6% YoY and 4% Q-o-Q, according to NSE-listed real estate data analytics firm PropEquity.

The correction in YoY sales was led by Pune (-16%), Chennai (-17%), Thane (-11%) and Mumbai (-8%). In contrast, Navi Mumbai (12%) and Hyderabad (11%) recorded double-digit YoY growth, while Bengaluru remained broadly stable.

The contraction in new launches has altered the quarterly demand-supply equation. New supply fell to 98,165 units from 1,15,010 units in Q2 2026, while absorption remained above the 1 lakh-unit mark.

Samir Jasuja, Founder and CEO, PropEquity, said, “Q3 2026 reflects a significant drop of 15% Q-o-Q in new supply while the absorption numbers remain stable with a minor drop of only 4% despite large drop in supply. The tier 1 cities continue to hover around the 1 lakh quarterly number mark for almost every quarter (since last 8 quarters) both for new supply and absorption. This Cleary signifies that the tier 1 cities have settled at an  annual supply absorption volume of around 4 lakhs units a year translating to approx. 750 million sq. ft. of new annual supply.”

New Supply demonstrates a Broad-Based Correction

New launches declined 15% QoQ and 2% YoY across the nine cities. Thane recorded the steepest QoQ decline at 28%, followed by Chennai, Delhi-NCR and Pune.

Hyderabad recorded a 68% YoY increase in launches, while Navi Mumbai declined 25% and Kolkata 32%, highlighting a cautious developer approach aimed at stabilizing existing inventory levels in those regions.