India Housing Demand Rises 8.2% In Q3 2026 Ahead Of Festive Season; Mumbai, Chennai See Strong Price Gains: Report

Mumbai: India’s residential property market saw buyer sentiment improve as the festive season approach, with housing demand rising 8.2 per cent between July and September 2026, according to the latest report by Magicbricks’ PropIndex.

Mumbai, Chennai Lead Price Gains

Activity improved across most major cities, including Mumbai, through the quarter; though demand remained 9.6 per cent below the levels recorded a year earlier. Prices have advanced in most markets, with Mumbai and Chennai seeing some of the larger quarterly gains, followed by Ahmedabad and Bengaluru. Greater Noida and Gurugram recorded little change. Prices rose only modestly at the national level, while the recovery was strongest in Bengaluru, Ahmedabad, Navi Mumbai, Thane and New Delhi, the report states.

As per the report, mid-sized homes continued to account for the bulk of searches, with 750–1,250 square feet and 1,250–2,000 square feet units together making up more than two-thirds of demand. Two-bedroom and three-bedroom apartments remained the most preferred configurations.

2BHK, 3BHK Homes Remain Popular

But supply rose only 1.9 per cent nationally, falling behind the persistent demand for housing. Demand outstripped supply in 10 out of the 13 cities analyzed, leaving Bengaluru as the sole large city maintaining its new listings at the same level of the demand generated.

However, festive-season buying has restored momentum, yet demand has not returned to year-ago levels. Local supply conditions and pricing are expected to remain key factors for buyers in the months ahead.

"The festive season has always been a significant period for the real estate sector, marked by positive buyer sentiment and a strong desire for new beginnings,” said Mohit Agarwal, Business Head, Conscient Infrastructure Pvt. Ltd. “We believe this festive season will see homebuyers making thoughtful, future-ready investments that align with their lifestyle aspirations and long-term legacy.”

While Rohit Kishore, CEO, Hero Realty, said that auspicious days have always driven strong sales graphs, and the momentum never wanes. With the rising potential of the industry and the festive promise that uplifts sentiments, we foresee strong demand.

Saurabh Paliwal, Sr. Vice President, Sales, BPTP Limited, said, "Festivals like Navratri are associated with auspicious beginnings, making them a meaningful time for families to take the next step towards homeownership."

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