Houses of value greater than ₹1 c additionally saw a 30% YoY gain. Apartment rent increased 8-21% in Q1. The highest premiums were reported in Kolkata, Bengaluru, Delhi NCR and Chennai
MUMBAI: Housing sales across India’s top seven cities (Mumbai, NCR, Pune, Bengaluru, Hyderabad and Chennai) rose 8% year on year at 70,631 units in Q1 2026 but growth was slower than new launches as buyer interest inched lower amidst economic uncertainties. Demand from Bengaluru, Mumbai, Pune and Delhi NCR — the only four cities to record more than 10,000 unit sales — added up to about 77% of total demand.
In January-March this year apartment prices in seven key cities were higher 8-20% than a year ago due to increased input costs, and rates could continue to increase slightly (with at an overall slow pace), JLL points out. Completions reached 90,023 units at 13 per cent yearly growth.
The list comprised of seven cities, which included Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai, Hyderabad—and Kolkata.
The market continued to be propelled by demand for the premium segment, with properties priced over ₹1 crore witnessing a steep 30% year-on-year increase in home sales– driven primarily from the ₹1.5–3 crore range. Despite this potential, overall momentum eased slightly, as sales were up 8% and launches increased by 13%, a sign buyers stepped back.
The growth was driven by major cities for which sales were up 61% in Chennai, 30% in Delhi NCR, and18% in Bengaluru; Pune witnessed a drop of 14%, impacted due to reduced launches. Despite macroeconomic headwinds, launches of new projects accelerated in Delhi NCR, Bengaluru, Hyderabad and Mumbai.
Sales jumped 67% YoY in the ₹1.5-3.0 crore segment, with a totalعدد of exceeding 2,000 units
Years up to ( Oct 2026 ) Type of Report Release Date (Sep 16, 2023)- The sales in the premium housing segment thrived ahead of other segments in the market performance during Q1 2026 as apartments costing ₨1 crore and above were about 71% of total sales this quarter — an increase over Q1, when they constituted just under senior citizens % of overall sales growth of approx.30%. This was spearheaded by the ₹1.5-3.0 crore segment, which grew tremendously (67% YoY) as homebuyers increasingly gravitate towards more spacious, high-end homes in prime locations.
On the contrary, the sub- ₹1 crore space fell 24% YoY, and saw its share drop from 41% to 29%. This long-term trend points to higher land and construction prices, a growing shortage of affordable housing in core urban locations, along with the strategic vision of developers focusing on premium projects that offer attractive margins, which collectively reflects changing demand fundamentals around quality. The entry-level options were buoyed by respectable developers offering buyers a choice and further increased assurance in the durability of the market, noted the report.
The number of new launches in real estate increased by 13% to reach 90,023 units
A big part of this growth came on the back of a large increase in new launches, where 90,023 units were launched which is a 13% Y-o-Y increase and also up a whopping 32% quarter-on-quarter. High supply pipeline from reliable developers gave buyers more options, and strengthened confidence for market’s stability which continued the steady sales growth, according to the report.
Of them, Bengaluru topped with 27,055 launches ( growth of 32% Y-o-Y) Delhi NCR registered 64% year-on-year growth and 45% of total quarterly launches.
“The residential market is traversing a transitionary period as substantial supply meets cautious buyer confidence. As launches rose 13% year-on-year, sales growth of 8% indicates buyers are being more selective given economic uncertainties. This temporary battle of divergence is not a significant concern but instead represents a necessary market cycle adjustment and not a major structural issue. The premium segment (homes priced at ₹1 crore and above) grew by 30% year-on-year, indicating demand fundamentals remain firm; especially in the luxury space where buyer economics are insulated from short-term economic vagaries,’ said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head – Residential Services, India, JLL.
Source : hindustantimes
