Anarock Q3 2026: Housing Sales Rise 3% as Launches Jump 18% and Unsold Stock Hits 6.3 Lakh

Anarock says homes sold across India's seven biggest cities rose 3% in July-September 2026, to 1,00,220 units from 97,080 a year earlier. The bigger story is supply: developers launched about 1,14,320 homes, 18% more than a year ago, and unsold stock climbed 12% to roughly 6.31 lakh units. Prices still rose 7% on the year, but only 1% on the quarter.

The report landed on 28 September, two days after PropEquity's count showed sales falling 6%. Here is what Anarock found, why the two surveys disagree, and what it means if you are buying or selling this festive season.

Key takeaways

• Sales in the top seven cities: 1,00,220 units in July-September 2026, up 3% year on year and about 10% on April-June, according to Anarock.
• Sales value rose 2% to about Rs 1.55 lakh crore, from Rs 1.52 lakh crore a year earlier.
• Launches jumped 18% to about 1,14,320 units, so new supply outran sales by roughly 14,100 homes in one quarter.
• Unsold inventory rose 12% to about 6,30,590 units, and was up from 6,16,500 in June. The average price rose 7% on the year to Rs 9,714 per sq ft, but just 1% on the previous quarter.
• MMR, Bengaluru and Hyderabad grew. NCR (-1%), Pune (-6%), Chennai (-10%) and Kolkata (-4%) fell. NCR still had the steepest price rise, at 12%.

The numbers at a glance

Figures are Anarock's, as reported by Business Standard, Outlook Money and Construction Week on 28 September 2026. Coverage of the report gave the year-ago average as Rs 9,105 per sq ft.

City by city

Two markets did most of the work. MMR and Bengaluru together made up 48% of the quarter's sales.

On launches, MMR added about 37,500 units, Hyderabad 18,950, Pune 18,730 and Bengaluru 17,720. Those four cities made up 81% of new supply. NCR went the other way: launches fell 14% to about 10,900 units, which fits with its prices rising fastest. Our earlier report on NCR prices rising 13% in the June quarter showed the same squeeze building.

Hyderabad and Bengaluru are the growth cities

Hyderabad's sales rose 15%, the best of the seven, and Bengaluru's 12%. Hyderabad also launched the second-most homes, so buyers there are getting more choice even as demand grows. If you are pricing a flat in the city, our Hyderabad property rates guide breaks rates down by locality.

Why Anarock says +3% when PropEquity said -6%

On 26 September PropEquity counted 1,03,170 homes sold in nine markets in the same quarter, down 6%. We covered that in our September-quarter sales report. Anarock's count is up 3%. Both can be honest, because they are measuring different things:

• Different maps. PropEquity splits Mumbai, Thane and Navi Mumbai into three markets and adds up nine. Anarock treats MMR as one and covers seven cities.
• Different methods. Each firm builds its count from its own project tracking, so the same city can move in opposite directions. NCR is the sharpest case: -12% to 8,090 units in PropEquity's count, -1% to 13,765 in Anarock's.
• Agreement on direction where it matters. Both surveys have Hyderabad growing strongly (+11% and +15%) and Pune, Chennai and Kolkata falling.

The practical reading: the national number is roughly flat, somewhere between a small fall and a small rise. The city-level trend is more reliable than the headline.

Why the supply number matters more than the sales number

Launches beat sales by about 14,100 homes in a single quarter, and unsold stock grew by nearly 68,800 units in a year. At this quarter's pace of about 33,400 sales a month (1,00,220 divided by three), 6,30,590 unsold homes would take roughly 19 months to clear. A year ago the same sum gave about 17 months (5,61,760 against 32,360 a month). That is our arithmetic on Anarock's figures, not a number Anarock published.

More stock means buyers have more choice, and it usually slows price growth before it stops it. That is already visible: 7% on the year, only 1% on the quarter. Anuj Puri, Anarock's chairman, put it this way: "Demand remains resilient, but buyers are becoming more selective as prices rise."

A worked example: what 7% looks like on a flat

Take a 1,000 sq ft flat at the seven-city average of Rs 9,714 per sq ft: Rs 97.14 lakh. A year ago the average was Rs 9,105 per sq ft, so the same flat cost Rs 91.05 lakh. You are paying about Rs 6.09 lakh more than a buyer did last September, a rise of 6.7% that Anarock rounds to 7%. The 1% quarterly rise, by contrast, adds only about Rs 96,000 on the same flat since June. Prices are still rising, just much more slowly.

One more sum worth doing: the average ticket. Rs 1.55 lakh crore across 1,00,220 homes is about Rs 1.55 crore a home. A year earlier, Rs 1.52 lakh crore across 97,080 homes was about Rs 1.57 crore. Value grew more slowly than units, so the typical home sold was slightly cheaper. Buyers bought more, but not bigger.

An honest view

This is a good report for buyers, and a mixed one for developers. Sales are holding, which rules out a slump. But supply rising 18% while sales rise 3% is the pattern that eventually forces discounts, freebies and softer payment plans, mostly in the cities launching hardest: MMR, Hyderabad and Pune.

NCR is the odd one out. Sales were flat, launches fell 14% and prices rose 12%. Fewer new projects are propping up prices there, which is good for existing owners and bad for first-time buyers. Don't read the 12% as demand running hot; volumes say otherwise.

And remember what these surveys don't count: resale deals, plots and builder floors are largely outside them. They describe the new-apartment market in seven cities, not "Indian property".

Who this matters for

• Buyers in MMR, Hyderabad, Pune and Bengaluru: the supply glut is your leverage. Compare several projects, ask for festive offers in writing and prefer ready or nearly ready stock where the builder has more to shift. Our under-construction vs ready-to-move guide helps with that choice.
• Buyers in NCR: fewer launches means less room to haggle on new projects. Resale may offer better value than a fresh launch.
• Investors: 1% quarterly price growth doesn't support a quick flip. Buy for rent or a long hold.
• Borrowers: the RBI's policy decision is due on 7 October. Our home loan rates guide shows where lenders stand now.

Frequently asked questions

Did housing sales rise or fall in the September 2026 quarter?

It depends on the survey. Anarock counted 1,00,220 homes sold in seven cities in July-September 2026, up 3% on the year. PropEquity, covering nine markets with Mumbai split into three, counted 1,03,170, down 6%. Both agree Hyderabad grew and Pune, Chennai and Kolkata fell, so the national picture is roughly flat.

How much unsold housing stock is there in India's top cities?

Anarock put unsold inventory across its seven cities at about 6,30,590 homes at the end of September 2026, up 12% from about 5,61,760 a year earlier. At the quarter's sales pace of roughly 33,400 homes a month, that is about 19 months of stock, on our calculation from Anarock's numbers.

Which city had the biggest price rise according to Anarock?

Delhi-NCR, at 12% year on year, followed by Bengaluru at 8%. The seven-city average rose 7% to Rs 9,714 per sq ft. NCR's rise came with flat sales and a 14% drop in launches, so it reflects thinner new supply more than a surge in buyers.

Are property prices still going up?

Yes, but slowly. Anarock's seven-city average rose 7% over the year but only 1% over the June quarter. On a 1,000 sq ft flat at the average rate, that quarterly rise is about Rs 96,000. With launches up 18% and stock building, Anarock itself expects more measured growth.

Is this a good time to buy a flat?

For end users in cities with heavy new supply, such as MMR, Hyderabad and Pune, conditions favour buyers: more choice, slowing price growth and developers keen to clear stock during the festive season. Negotiate on payment terms as well as price, and check the project's RERA registration and construction progress before you pay.

If you are weighing a purchase in one of these cities, talk to the Realty Hunting team. We can tell you how a specific project's price compares with what has actually been selling around it.