Housing sales slip 6% to 1.03 lakh units across top cities in Q3

Housing sales across India's top nine cities fell 6 per cent to 1,03,170 units in the third quarter of the financial year, compared with 1,09,420 units in the corresponding period last year, according to data from real estate analytics firm PropEquity.

The decline reflects a combination of weak buyer sentiment and limited fresh inventory in the market. New residential supply dropped to 98,165 units from 1,00,330 units year-on-year, indicating reluctance among developers to launch projects amid uncertain economic conditions. Global economic uncertainties have further dampened purchasing sentiment in the residential real estate sector.

The July-September quarter traditionally records slower housing activity across major metropolitan areas, a pattern attributed to the monsoon season which discourages both developers and homebuyers from undertaking property transactions. PropEquity's analysis covers nine primary residential markets including Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata.

Market participants expect activity to pick up in the final quarter of the calendar year, as festive demand and year-end incentives typically drive sales momentum. Developers are likely to increase new project launches and offer promotional schemes during this period to capitalise on seasonal buying trends.