India housing sales fall 6% in major cities during April-June quarter

Residential housing sales in eight major Indian cities fell by 6 percent during the April-June quarter, totaling 91,729 units compared to 97,674 units in the same period last year, according to a report by real estate consultancy PropTiger.

The decline was observed in several major markets, including the Mumbai Metropolitan Region (MMR), which saw a 7 percent drop; Delhi-NCR, down 7 percent; Bengaluru, down 9 percent; and Pune, which experienced a 21 percent decrease. Ahmedabad also saw a 20 percent decline, while Kolkata sales fell by 9 percent.

In contrast, sales grew in southern cities, with Chennai recording a 36 percent increase and Hyderabad seeing a 15 percent rise. PropTiger attributed the cautious stance of homebuyers to global uncertainties, including conflicts in West Asia and the potential impact of artificial intelligence on employment.