Hyderabad, Bengaluru, Chennai drive 47% surge in residential property sales

Hyderabad, Bengaluru, and Chennai drive a 47% spike in housing sales during July-September, countering a slight decline in India’s top-eight real estate markets.

While India’s top-eight housing markets recorded a marginal 1% decline in residential property sales during the July-September quarter, Hyderabad, Bengaluru, and Chennai emerged as standout performers, registering a 47% year-on-year surge in home purchases.

According to real estate consultant PropTiger, residential sales in these three southern cities reached 38,644 units, compared to 26,284 units during the same period last year. Hyderabad led the growth with a 53% increase, recording 17,658 units sold, up from 11,564 units in Q3 2024. Bengaluru followed with an 18% rise, reaching 13,124 units compared to 11,160 units last year, while Chennai more than doubled its sales from 3,560 units to 7,862 units.

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In contrast, northern and western markets experienced a slowdown. Mumbai Metropolitan Region (MMR) sales fell 22% to 23,334 units from 30,010 units. Pune saw a 28% decline to 12,990 units from 18,004 units, and Delhi-NCR recorded a 21% dip to 7,961 units from 10,098 units. Ahmedabad experienced a minor 5% fall to 8,889 units from 9,352 units. Kolkata, however, bucked the trend with a 33% increase, selling 3,729 units compared to 2,796 units a year ago.

Favorable market conditions have contributed to the southern cities’ resilience. According to Aurum PropTech Executive Director Onkar Shetye, factors such as stable interest rates, policy reforms including the recent GST reduction on cement, and rising developer confidence have provided a crucial buffer against rising input costs.

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Shetye also noted that the upcoming festive quarter will act as a key indicator of market strength. “It will be a true test of the market’s ability to maintain growth while addressing affordability challenges, particularly in the mid and entry-level housing segments,” he said.

While overall sales in India’s top-eight cities fell to 95,547 units in Q3 from 96,544 units a year ago, the southern residential markets highlight a growing regional disparity in housing demand. Buyers in Hyderabad, Bengaluru, and Chennai continue to show confidence, signaling a resilient real estate sector even amid challenges in other metros.

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