New Delhi, December 28 (ANI): Hardening property prices, layoffs in the IT sector, geopolitical tensions, and other uncertainties dented India’s residential growth momentum in 2025, according to ANAROCK Research.
Data from the real estate consultancy showed that housing sales across the top seven cities declined by 14 percent in 2025, with approximately 395,625 units sold, compared with 459,645 units in 2024. Despite the slowdown in volumes, the overall sales value of residential units rose by 6 percent year over year, increasing from about Rs 5.68 lakh crore in 2024 to more than Rs 6 lakh crore in 2025.
Greater Mumbai recorded the highest sales at approximately 127,875 units, though this marked an 18 percent annual decline. Pune followed with around 65,135 units sold, reflecting a 20 percent year-over-year drop. Together, the two western markets accounted for nearly 49 percent of total residential sales in 2025.
New housing launches in the top seven cities rose marginally by 2 percent, from about 412,520 units in 2024 to roughly 419,170 units in 2025. Greater Mumbai and Bengaluru led new supply, together contributing close to 48 percent of total launches during the year, ANAROCK said.
“2025 has been a year of broad-spectrum upheaval, including geopolitical turmoil, layoffs in the IT sector, tariff tensions, and other uncertainties,” said Anuj Puri, chairman of the ANAROCK Group.
Puri noted that while sales volumes stabilized at around 400,000 units across the top seven cities, overall sales value continued to grow. He said more than 21 percent of new supply launched during the year was priced above Rs 2.5 crore.
Average residential price growth moderated to single digits in 2025 after recording double-digit increases in previous years, Puri added. Prices across the top seven cities rose an average of 8 percent annually, with only the National Capital Region posting double-digit growth at 23 percent. This was largely attributed to a higher share of premium housing supply. Of NCR’s total new supply of 61,775 units in 2025, over 55 percent was priced above Rs 2.5 crore.
Looking ahead, Puri said the sector’s performance in 2026 would depend largely on interest rate cuts by the Reserve Bank of India and developers’ ability to manage pricing. He added that further repo rate cuts, leading to lower home loan interest rates, could significantly revive demand.
The report also highlighted continued strength in the luxury housing segment. Both demand and supply for high-end homes increased in 2025, reflecting the post-pandemic preference for larger, better-quality residences by branded developers. Homes priced above Rs 2.5 crore accounted for 21 percent of new supply in the top seven cities in 2025, up from 18 percent in 2024, a trend ANAROCK expects to continue into 2026.
Unsold inventory across the top seven cities rose by 4 percent by the end of 2025, largely due to softer demand and increased new supply. Around 5.77 lakh units are currently available in the primary sales market.
Hyderabad stood out as an exception, recording a marginal 2 percent decline in unsold stock, from approximately 97,765 units at the end of 2024 to about 96,140 units by the end of 2025, supported by restricted new supply. Greater Mumbai also saw a slight 1 percent decline in unsold inventory. All other cities reported an increase in unsold stock, with Bengaluru registering a notable 23 percent rise.
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