India's top seven housing markets recorded a muted 2% rise in average property prices in the January–March quarter compared with the previous three months, as weaker sales amid negative consumer sentiment kept gains in check, according to Anarock.
Data from the property consultant showed that average housing prices across seven major cities increased to Rs 9,456 per sq ft in Q1 2026 from Rs 9,260 per sq ft in the preceding quarter. On a yearly basis, prices were up 7% from Rs 8,868 per sq ft in the same period last year.
Anarock tracks primary housing markets across Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata.
The firm noted that housing sales across these cities declined 7% in volume and 6% in value during the March quarter compared with the previous quarter, limiting price growth.
Among key markets, Delhi-NCR saw average prices rise 3% quarter-on-quarter to Rs 9,620 per sq ft from Rs 9,300. On an annual basis, prices jumped 15% from Rs 8,330 per sq ft.
In MMR, rates increased 1% to Rs 17,600 per sq ft from Rs 17,350 in the previous quarter, while annual appreciation stood at 4% from Rs 16,900.
Bengaluru recorded a 2% sequential rise to Rs 9,310 per sq ft from Rs 9,100, with prices up 8% year-on-year from Rs 8,650.
Pune saw housing prices grow 2% to Rs 8,220 per sq ft from Rs 8,050 in the prior quarter, reflecting a 5% annual increase from Rs 7,800.
Hyderabad reported a 2% increase to Rs 7,990 per sq ft from Rs 7,830, with a 6% yearly gain from Rs 7,550.
Chennai posted a modest 1% rise to Rs 7,165 per sq ft from Rs 7,100, while annual growth stood at 4% from Rs 6,900.
Kolkata witnessed a relatively stronger 3% uptick to Rs 6,290 per sq ft from Rs 6,120 in the previous quarter, with prices up 6% from Rs 5,950 a year earlier.
Anarock Chairman Anuj Puri said the “short-term tremors of the Iran war were clearly visible in the first quarter,” adding that uncertainty weighed on buying sentiment, particularly in March.
“The decline in sales also aligns with large numbers of prospective Middle East homebuyers, who invest significantly in Indian real estate, hitting the pause button under the war cloud,” he said.
Despite the near-term softness, Puri maintained that the long-term outlook for India's housing market remains positive.
According to Anarock, housing sales across the top seven cities rose 9% year-on-year to 1,01,675 units in January–March from 93,280 units a year earlier. However, sales declined from 1,08,970 units in the preceding quarter, reflecting the impact of global uncertainties.
Housing prices had risen sharply between 2022 and 2024 on the back of strong post-pandemic demand. However, the pace of growth has moderated since early 2025 as demand normalised.
Mumbai-based Anarock is among the country's leading real estate consultancies, offering services across residential sales, commercial leasing, land transactions and fundraising.
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