15 October 2026

H1 2026 housing sales flat at ₹3.63 lakh crore as MMR overtakes NCR: report

India's primary housing market held steady in value but slipped in volume in the first half of 2026, according to the India Housing Report – September 2026, prepared by data analytics firm CRE Matrix with the National Association of REALTORS (NAR) and released around the International Real Estate Conference (IREC 2026) in Hyderabad in late September. Primary home sales across tier-1 cities were worth about ₹3.63 lakh crore in H1 2026, broadly flat against the record H1 2025, while the number of homes sold fell about 2% to roughly 2.58 lakh.

Key numbers

Sales value: about ₹3,63,500 crore, down 0.3% year on year.
Volume: about 2,57,600 homes, down around 2%.
Launches: about 2,98,400 units, up around 7%, so new supply again exceeded sales.
Average ticket size: ₹1.41 crore, up about 2%.
Largest market: Mumbai Metropolitan Region (MMR) with 26% of sales value, ahead of NCR at 19%.

MMR overtakes NCR

MMR's sales value rose about 8% to roughly ₹93,800 crore on around 83,600 homes, a 9% increase in volume, with an average ticket size of ₹1.12 crore. Within the region, Navi Mumbai and Raigad recorded the fastest value growth at 29%, according to the report summary.

NCR moved the other way. Its sales value fell 24% to ₹68,217 crore and volumes dropped about 9% to around 24,600 homes, even as launches rose about 10% to roughly 35,000 units. Gurugram's sales value declined 33% to ₹37,726 crore, with the average ticket size easing to ₹3.15 crore from a peak of ₹4.65 crore in H1 2025, while volumes there were broadly stable.

Bengaluru grows fastest; other cities mixed

Bengaluru's sales value rose 25% to ₹60,875 crore, the strongest growth among the large markets covered, on about 34,600 homes (up 7%). Launches in the city rose about 22% to roughly 47,700 units. Elsewhere, the picture was uneven:

Hyderabad: value broadly flat at ₹56,966 crore, volumes down 11%, launches up about 22%.
Pune: value up 4% to ₹36,025 crore, volumes down 5%, launches down about 10%.
Chennai: value up 16% to ₹13,722 crore, volumes down 12%.
Kolkata: value down 3% to ₹9,046 crore, volumes down 12%.

What it means for homebuyers and sellers

The report frames H1 2026 as a market where supply is running ahead of absorption. Rising average ticket sizes alongside lower volumes suggest that sales are increasingly concentrated in higher-priced homes, a pattern also visible in other consultancies' data this year. For buyers, a larger pool of new launches generally means more projects to compare on price, payment plans and possession dates; it is worth checking each project's RERA registration and construction progress rather than relying on launch-stage pricing.

For owners planning to sell, the divergence between cities matters. Markets where volumes have fallen sharply, such as parts of NCR, may see buyers take longer to decide, while markets with steadier demand may move faster. Pricing a resale home in line with recent transactions in the same micro-market remains the most reliable approach.

Buyers looking at Mumbai can browse homes for sale in Mumbai, and owners in Gurugram can list their property for free on RealtyMandi.