Real estate sector consultant company PropTiger on Wednesday released a report on the sales of homes in 8 major cities of India. The reason behind this decline is being attributed to rising property rates and slow growth rate.
New Delhi: A big news is emerging from the real estate sector. Reports indicate that in the January-March quarter, home sales in eight major cities across the country have declined by 19 percent year-on-year, totaling 98,095 units. Rising home prices and a low number of new project launches have also been important factors contributing to this decline.
Real estate consultant company PropTiger said that rising property prices and slow growth rate have forced buyers to be cautious. PropTiger is a part of RERA India, which also owns Housing.com.
Huge jump in prices has started showing its adverse effect
The real estate consultant has said in its report 'Real Insight' that new offers have declined by 10 percent in the first quarter of calendar year 2025 i.e. January to March, as developers tried to adjust to market conditions. Dhruv Agarwal, Chief Executive Officer of Housing.com and PropTiger, has said that the huge jump in prices has started showing its adverse effect on sales.
Buyers are adopting a cautious approach
New uncertainty is now emerging due to the global trade war. In such a situation, it is natural for buyers to adopt a cautious approach towards investment, especially in a sector like real estate.
Sale increased only in these 2 cities
According to PropTiger data, sales in Bengaluru rose 13 percent to 11,731 units in the January-March quarter, and in Chennai it rose 8 percent to 4,774 units. Bengaluru and Chennai are the only two cities where sales have increased.
Home sales in Ahmedabad fell 17 percent to 10,730 units in January-March, fell 16 percent to 8,477 units in Delhi-NCR, fell 26 percent to 10,647 units in Hyderabad, fell 1 percent to 3,803 units in Kolkata, fell 26 percent to 30,705 units in Mumbai Metropolitan Region (MMR) and fell 25 percent to 17,228 units in Pune.
Delhi-NCR includes Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad and Mumbai Metropolitan Region includes Mumbai, Navi Mumbai and Thane.
Launch of new projects fell
The launch of new projects during the period under review fell by 10 percent from 1,03,020 units to 93,144 units. These figures relate only to sales of new houses. It does not include resale figures of old houses.