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Housing sales across India's eight major residential markets rose marginally by 0.7% to 171,471 units during January-June 2026, indicating a phase of market stabilisation following four years of post-pandemic growth, according to Knight Frank India. Premium homes priced above INR 1 crore accounted for 54% of total sales, while the combined share of affordable and mid-income housing fell to 46%. Affordable home sales declined 15% year-on-year, reflecting constrained supply in the lower price segments. Fresh residential launches increased 4% to 187,350 units, supported by continued developer activity. Among the eight cities tracked, Delhi-NCR was the only market to register a decline in sales, while demand remained resilient elsewhere despite moderating growth across the broader housing sector.
Housing sales across Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad and Kolkata increased marginally during the first half of 2026, signalling that India's residential market has entered a phase of stabilisation after recording strong post-pandemic growth over the past four years, according to Knight Frank India.
Data released by the real estate consultancy in the past week showed that residential sales rose 0.7% year-on-year to 171,471 units during January-June 2026, compared with 170,201 units in the corresponding period last year.
Knight Frank observed that housing demand increased across all eight major markets except Delhi-NCR, where residential sales declined 7% annually. Despite the moderation in overall growth, the consultancy said underlying housing demand remained stable across most urban markets.
The report highlighted a continued shift towards higher-value residential properties. Homes priced above INR 1 crore accounted for 54% of total housing sales during the six-month period, while affordable and mid-income housing together represented the remaining 46%.
Sales in the affordable housing segment, comprising homes priced below INR 50 lakh, declined 15% to 32,063 units, down from 37,796 units in the year-ago period. The category contributed 19% of total residential sales during the first half of the year.
The mid-income segment, covering homes priced between INR 50 lakh and INR 1 crore, also recorded a decline, with sales falling 5% to 46,490 units. This segment accounted for 27% of overall housing transactions.
On the supply side, developers launched 187,350 housing units across the eight cities during January-June 2026, representing a 4% increase over the corresponding period last year.
Knight Frank attributed the decline in affordable and mid-income housing sales partly to constrained supply in these price brackets, noting that relatively fewer new projects have been introduced at lower price points.
Commenting on the market, Shishir Baijal, International Partner and Chairman and Managing Director of Knight Frank India, said the moderation in sales follows a steep recovery from the lows experienced during the COVID-19 pandemic. He noted that premium homes now account for more than half of all residential sales, reflecting rising household incomes, changing buyer preferences and greater confidence in long-term homeownership.
Baijal added that India's housing market continues to consolidate, supported by urbanisation, infrastructure development and a stable macroeconomic environment, even as overall sales growth has moderated following the strong recovery witnessed in recent years.
Source - PTI
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