India’s residential real estate market recorded 91,729 home sales and 89,161 new launches across eight major cities in Q2 2026, according to PropTiger.com‘s Real Insight Residential report released by Aurum PropTech Limited. The sales-weighted average price rose 1.0% quarter-on-quarter to ₹10,153 per sq ft, marking the second consecutive quarter above the ₹10,000 per sq ft level.
The report shows both supply and sales moderated sequentially, with new launches down 4.2% QoQ from 93,065 units in Q1 2026 to 89,161 in Q2 2026, and sales down 4.4% QoQ from 95,973 to 91,729. Year-on-year, launches increased 6.0% from 84,138 units in Q2 2025, while sales declined 6.1% from 97,674 units.
Ahmedabad recorded 7,541 home sales in Q2 2026, down 20.2% year-on-year from 9,451 and down 8.3% quarter-on-quarter from 8,221; new launches in Ahmedabad were 4,295, up 2.0% year-on-year from 4,211 and down 7.9% from 4,662 in Q1 2026.
Chennai logged 7,183 sales in Q2 2026, up 36.0% year-on-year from 5,283 and up 5.0% from 6,841 in Q1 2026; new launches in Chennai were 4,314, down 43.3% year-on-year from 7,606 and up 1.5% from 4,251 quarter-on-quarter.
Hyderabad saw 13,196 sales in Q2 2026, a 14.6% increase year-on-year from 11,513 and a slight 0.8% decline from 13,297 in Q1 2026; launches rose to 13,074, up 21.6% year-on-year from 10,748 and up 5.0% from 12,452 in Q1.
The Mumbai Metropolitan Region (MMR) recorded 24,112 sales in Q2 2026, down 7.0% year-on-year from 25,939 and down 7.7% from 26,116 in Q1; new launches in MMR were 24,882, up 7.9% year-on-year from 23,062 and down 8.5% from 27,189 quarter-on-quarter.
Bengaluru reported 14,186 sales in Q2 2026, down 9.2% year-on-year from 15,628 and down 9.1% from 15,603 in Q1; new launches in Bengaluru increased to 16,827, up 36.7% year-on-year from 12,307 and up 6.5% from 15,806 in Q1 2026.
Delhi-NCR had 9,352 sales in Q2 2026, down 7.0% year-on-year from 10,051 and down 1.0% from 9,447 in Q1; launches were 10,127, down 2.8% year-on-year from 10,421 and down 1.0% from 10,230 quarter-on-quarter.
Kolkata recorded 3,517 sales in Q2 2026, down 8.6% year-on-year from 3,847 but up 22.0% quarter-on-quarter from 2,883; new launches in Kolkata rose to 3,020, up 37.1% year-on-year from 2,202 and up 12.0% from 2,697 in Q1 2026.
Pune registered 12,642 sales in Q2 2026, down 20.8% year-on-year from 15,962 and down 6.8% from 13,565 in Q1; launches in Pune were 12,622, down 7.1% year-on-year from 13,581 and down 20.0% from 15,778 in Q1.
Overall, total sales across the eight cities were 91,729 in Q2 2026, down 6.1% year-on-year from 97,674 and down 4.4% from 95,973 in Q1 2026, while total new launches across the eight cities were 89,161, up 6.0% year-on-year from 84,138 and down 4.2% from 93,065 in Q1 2026.
Mumbai Metropolitan Region (MMR) remained the largest market by volume and value, with 24,112 units sold and a sales-weighted average price of ₹15,422 per sq ft, up 20.4% year-on-year.
Bengaluru recorded the highest annual price increase at 26.0% to ₹9,931 per sq ft, despite a 9.2% decline in sales.
Pune’s average price crossed ₹8,000 per sq ft for the first time at ₹8,084, up 13.7% year-on-year. Ahmedabad was the most affordable among the eight cities at ₹5,295 per sq ft and registered the sharpest sequential price gain at 7.0% QoQ.
Kolkata led sequential sales growth nationally with a 22.0% QoQ increase attributed to a post-election recovery. Chennai’s sales rose 36.0% YoY while its supply remained 43.3% below year-ago levels. Delhi-NCR and Hyderabad showed relative stability; Hyderabad’s launches rose 21.6% YoY, supported by the city’s IT, pharmaceutical, and data-centre ecosystem.
The report attributes the quarter’s sequential moderation to pre-monsoon seasonality and buyer caution linked to the US-Iran conflict, noting sharper impacts in technology-led markets Bengaluru, Pune, and Hyderabad where AI-led workforce restructuring and tech-sector layoffs affected sentiment in the sub-₹1 crore segment.
A stable RBI repo rate of 5.25%, moderating inflation, and sustained government capex are described as providing a predictable macro backdrop. The report also notes recent GST reductions cement from 28% to 18%, and marble and granite from 12% to 5% have been absorbed into project economics and provide an estimated 2–3% construction cost buffer. The report characterises this as a partial cost offset rather than a driver of lower prices and records year-on-year residential price increases across all eight cities.
“Q2 2026 confirms India’s residential market is maturing, not weakening,” said Prakash Tejwani, CEO, PropTiger.com. “Prices have held above ₹10,000 per square foot for two straight quarters even as buyers turn more selective. Kolkata and Chennai are showing genuine demand-led recovery, while Bengaluru and Pune continue to command pricing power despite tech-sector caution. Disciplined supply positions developers well for the festive quarter, though affordability remains the key variable to watch.”
The report expects Q3 2026 to benefit from festive-season demand, continued recovery in Kolkata, supply normalisation in Chennai, and sustained momentum in Bengaluru and Delhi-NCR, assisted by infrastructure completions including Bengaluru Metro Phase 3, the Pune Line 3 extension, and Chennai Phase 2. It identifies affordability as a key risk, with annual price appreciation ranging from 4.4% in Chennai to 26.0% in Bengaluru, and concludes that the festive quarter will be the year’s decisive demand test, adding that “a maturing market, by definition, rewards precision over volume.”
