Mumbai, Pune Housing Sales Drop 17% in Jul-Sep

New Delhi, Oct 2 (PTI) Housing sales in Mumbai region and Pune dropped 17 per cent in July-September period to 49,542 units on lower demand amid a sharp surge in prices of residential properties, according to PropEquity.

Sales stood at 59,816 units in the year-ago period.

In its latest report, real estate data analytics firm PropEquity pointed out that sales in the primary housing market of Thane in Mumbai Metropolitan Region (MMR) saw a 28 per cent decline in sales to 14,877 units from 20,620 units.

In Mumbai city, sales dipped 8 per cent to 9,691 units from 10,480 units, while Navi Mumbai witnessed a 6 per cent fall to 7,212 units from 7,650 units.

In Pune, a key housing market in Maharashtra, the housing sales fell 16 per cent to 17,762 units during July-September 2025 from 21,066 units in the corresponding period of the preceding year.

Commenting on the market scenario of MMR, realtors apex body CREDAI's Mumbai chapter said that fall in sales during the September quarter was not a cause for concern and the demand would bounce back in the festive season, which started from September 22.*

Sukhraj Nahar, President of CREDAI-MCHI said, "While Q3 reflected a period of market recalibration, the demand drivers for housing in MMR and Pune remain extremely robust. Infrastructure upgrades like Metro corridors, coastal roads, and NMIA continue to act as strong long-term catalysts."

With sales still outpacing new launches in many sub-markets, this phase represents a healthy adjustment rather than a cause for concern, he added.

"Historically, festival quarters in Maharashtra have always revived momentum, and we expect a similar trend this year," Nahar said.

Rushi Mehta, Secretary of CREDAI-MCHI noted that the end-user demand is intact.

"Short-term fluctuations are largely due to high base effect and cautious launches. Developers are aligning supply with genuine demand, which will ensure long-term market stability," he explained.

Nikunj Sanghavi, Treasurer of CREDAI-MCHI, noted that MMR and Pune together still account for nearly half of India's housing market, underlining their dominance.

Investor confidence remains strong, supported by stable interest rates and regulatory clarity under RERA, he said.

"We believe the second half of FY25 will see an uptick in absorption, aided by festive demand and policy push towards affordable and mid-segment housing," Sanghavi said.

According to PropEquity, the housing sales in India's top 9 cities fell 4 per cent YoY (year-on-year) and 1 per cent QoQ (quarter on quarter) to 1,00,370 units in the July-September period.

The top 9 cities are Bengaluru, Hyderabad, Chennai, Mumbai, Navi Mumbai, Thane, Pune, Kolkata and Delhi-NCR.