Mumbai And Pune, Along With Five Other Indian Cities, Predicted To See Drop In Home Sales By 28%: ANAROCK Report

Mumbai: According to a recent report by ANAROCK, home sales in India's seven largest cities are projected to experience a 28 percent decrease year-on-year in the January–March period of 2025, largely attributed to rising property prices and persistent global uncertainties, as reported by real estate consultancy ANAROCK.

According to the agency's report, the anticipated number of housing units sold during this timeframe is expected to be 93,280, a decrease from the 130,170 units noted in the same quarter last year. The deceleration indicates a decrease in momentum for the Indian residential real estate sector, which had experienced a robust rebound after the pandemic.

Anarock ascribed the decrease to unprecedented housing prices and the effects of negative geopolitical events. Even with a steady domestic economic perspective and robust GDP growth predictions, purchasers seem to be cautious due to global economic vulnerabilities and worries about inflation.

Regarding city-specific performance, the Mumbai Metropolitan Region (MMR) is anticipated to experience a 26 percent decrease in sales to 31,610 units, whereas Delhi-NCR could witness a 28 percent decline. Housing sales in Bengaluru are expected to fall by 16 percent to 15,000 units, while Pune is projected to experience a 30 percent drop to 16,100 units.

Hyderabad could experience the sharpest decline, as sales are projected to drop 49 percent to 10,100 units. In Chennai, a decrease of 26 percent is expected, resulting in sales of 4,050 units, while Kolkata might experience a 31 percent drop with 3,900 units sold.

Anuj Puri, Chairman of ANAROCK, stated that while India's macroeconomic indicators are robust, especially GDP growth and managed inflation, the rise in property prices, global geopolitical issues, and a sluggish international economy have negatively impacted housing market sentiment. He observed that these trends have persisted in impacting the market's performance during the first quarter of 2025.