Housing sales across India’s top seven cities reached 70,631 units in Q1 2026, marking an 8% year-on-year rise, though growth lagged new launches, signalling a temporary softening in buyer sentiment amid economic uncertainties, according to a JLL report. Bengaluru, Mumbai, Pune and Delhi NCR, the four cities each recording over 10,000 unit sales, together accounted for around 77% of total demand.
Apartment prices rose 8-20% in January-March across seven major cities due to higher input costs, and rates could appreciate further, albeit at a slow pace, according to JLL. New supply of apartments increased 13 per cent to 90,023 units.
The seven cities included Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, and Kolkata.
The premium segment continued to drive the market, with homes priced above ₹1 crore registering a sharp 30% annual increase, particularly in the ₹1.5–3 crore bracket. However, overall momentum moderated, with sales growing 8% compared to a 13% rise in launches, reflecting a more measured buyer approach.
City-wise, Chennai led with a 61% surge in sales, followed by Delhi NCR at 30% and Bengaluru at 18%, while Pune saw a 14% decline amid lower launches. Despite broader headwinds, new project launches picked up across Delhi NCR, Bengaluru, Hyderabad and Mumbai.
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₹1.5-3.0 crore segment led sales with 67% year-on-year increase
The premium housing segment dominated market performance in Q1 2026, with apartments priced above ₹1 crore accounting for 71% of total sales, up from 59% in Q1 2025, marking a 30% year-on-year growth. The ₹1.5-3.0 crore segment led this expansion with an exceptional 67% year-on-year increase, reflecting strong buyer preference for spacious, well-appointed homes in prime locations.
Conversely, the sub- ₹1 crore segment contracted 24% year-on-year, with its market share declining to 29% from 41%. This sustained shift reflects rising land and construction costs, limited affordable housing supply in core urban areas, and developers’ strategic focus on higher-margin premium projects that align with evolving buyer preferences for quality. Reputable developers providing buyers with diverse options and reinforced confidence in market stability drove entry-level options, the report showed.
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Real estate launches grew by 13% to touch 90,023 units
This growth was significantly underpinned by a surge in new launches, which totalled 90,023 units, a 13% Y-o-Y increase and a substantial 32% quarter-over-quarter jump. The strong supply pipeline from reputable developers provided buyers with diverse options and reinforced confidence in market stability, driving steady sales growth, the report showed.
Bengaluru led with 27,055 launches (up 32% Y-o-Y), while Delhi NCR recorded 64% year-on-year growth, accounting for 45% of total quarterly launches, it showed.
“The residential market is navigating a transitional phase where robust supply is meeting measured buyer sentiment. While launches have surged 13% year-on-year, sales growth of 8% suggests buyers are exercising greater discretion amid economic uncertainties. This temporary divergence is not unusual and reflects a healthy market adjustment and not a structural concern. The premium segment (homes priced at ₹1 crore and above) saw a 30% year-on-year growth, demonstrating that underlying demand fundamentals remain strong, particularly among affluent buyers who are less sensitive to short-term economic fluctuations,” said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head – Residential Services, India, JLL.
