Nearly 96,000 homes sold across top 8 cities; Market shifts from post-pandemic exuberance to demand-driven quality growth

National, May 16, 2026 – India’s residential real estate market has successfully transitioned into a structurally mature, demand-anchored growth phase, according to the Real INSIGHT – Residential Q1 2026 report released by PropTiger (part of Aurum PropTech Limited).

Market Snapshot: Stability Over Volume

Q1 2026 recorded 93,065 new unit launches and 95,973 unit sales across the top eight cities, with supply rising +1.1% sequentially and sales improving +1.0% QoQ. Year-on-year, supply remained virtually flat at -0.1% while sales moderated -2.2%, reflecting healthy normalisation rather than structural weakness.

The weighted average price reached a historic ₹10,050/sq ft – the first crossing of the five-digit benchmark, signalling that value creation now drives market health rather than transaction volume.

Prakash Tejwani, CEO, PropTiger, stated “The Indian residential market has transitioned into a structurally more disciplined phase. Growth today is increasingly being driven by demand quality, inventory discipline, and buyer confidence rather than speculative expansion.”

Bengaluru’s Dominant Performance

Bengaluru emerged as Q1 2026’s standout performer, recording 15,603 unit sales – up +33% year-on-year and +12% sequentially. The city also maintained near-parity between new supply (15,806 units) and sales absorption, indicating a well-balanced market.

The GCC and startup employment engine continues to prove more durable than conventional IT hiring cycles, providing Bengaluru with a structurally differentiated demand base.

MMR Anchors Market Despite Normalisation

Mumbai Metropolitan Region (MMR) reinforced its position as India’s largest residential market by volume and value, with 26,116 sales units in Q1 2026. While YoY comparisons remain negative (-14.9%), this reflects base-effect normalisation against an exceptional 2025, not a loss of demand momentum.

Broader City Performance

• Chennai: Delivered strong recovery with 6,841 units sold, up +43.3% YoY, driven by absorption of existing inventory.
• Hyderabad: Recorded 13,297 units sold, up +24.9% YoY, confirming strong structural demand trajectory.
• Delhi NCR: Posted +11.4% YoY sales growth and +17.6% YoY price appreciation.
• Pune: Achieved +4.0% QoQ sales recovery with the highest QoQ price growth at 9%.
• Kolkata & Ahmedabad: Facing temporary headwinds from election cycles and demand normalisation respectively.

Market Health Indicators

All eight major cities registered positive year-on-year price appreciation; unsold inventory levels remained broadly balanced, with new supply additions closely aligned with sales absorption, preventing meaningful build-up of unsold stock.

A disproportionate share of new launches in Q1 2026 – particularly in Mumbai MMR, Bengaluru, and Delhi NCR – remained concentrated in the premium and upper mid-income segments driving the average property prices higher.

Conclusion: A Market Entering Maturity

Q1 2026 marks a decisive inflection point in India’s residential real estate cycle. The market has successfully transitioned from post-pandemic exuberance (2024–25) to structurally sustainable, demand-anchored growth (2026+).

The Q2 2026 Outlook is Constructive:

• Expect steady sequential growth (+2–4% QoQ) across most major metros
• Sustained YoY price appreciation (+4–8% across metros) driven by limited mid-segment supply
• Infrastructure completions unlocking new micro-markets, particularly benefiting Bengaluru, Chennai, Hyderabad, and NCR
• Developer discipline maintaining inventory balance and preventing oversupply risk

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The company’s net profit rose by 62% to Rs 2.9 crore in FY26 as against Rs 1.8 crore in FY25. The total revenue rose to Rs 35 crore from Rs 26 crore in FY25.

The company delivered broad-based growth across all key financial metrics reflecting operational excellence and disciplined capital management.

Ankur Jalan, CFO, Grovy India Limited said, “We continue to witness strong demand in the real estate market, particularly in South Delhi, which remains an evergreen and resilient market with strong long-term potential. Supported by favorable macroeconomic conditions and sustained premium residential demand, we believe South Delhi is positioned for stronger growth compared to many other markets, reinforcing our positive outlook for the coming years. Further, with our running inventory in hand and our partnership with GGF, we believe the Company is well positioned to drive development growth two-to-three-fold over the next couple of years.”

The company is undertaking the development of multiple residential projects across high-end South Delhi colonies spanning 1.53 lakh sq ft which is expected to be delivered between Q3FY27-Q4FY28.

The company also has in its pipeline two residential projects in GK 1 and Defence Colony, cumulatively spanning 35000 sq ft.

Highlighting the potential of South Delhi, Jalan added, “South Delhi is one of India’s most supply constrained premium markets with strong historic price appreciation and high rental demand from expatriates, diplomats and professionals. As compared to other regions, projects in South Delhi possess a lower turnaround time, low-to-negligible time and cost escalation risks, low price volatility and regulatory certainty and a high resale certainty making investment a high return low risk proposition.” 

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