Hyderabad, Bengaluru and Chennai together see 47% increase in home sales in Jul-Sep: PropTiger

Hyderabad, Bengaluru and Chennai have collectively seen a 47 per cent increase in residential property sales in the July-September period, despite an overall marginal decline in demand in eight major cities, PropTiger said.

Home sales in three major southern cities – Hyderabad, Bengaluru and Chennai – stood at 38,644 homes in the September quarter, up 47 percent from 26,284 homes in the same period a year ago.

Data from real estate consultant PropTiger, which was recently acquired by listed entity Aurum PropTech Ltd, showed that residential property sales in Hyderabad grew 53 percent from 11,564 to 17,658 units.

In Bengaluru, home sales increased by 18 percent from 11,160 to 13,124 homes.

Residential sales in Chennai more than doubled to 7,862 homes in the July-September period this year, compared to 3,560 homes in the corresponding period of the previous year.

Overall, India’s top eight housing markets (first-time sales) saw a 1 percent decline in sales in the July-September period, mainly due to lower demand in Mumbai, Pune and Delhi-NCR, the consultant said. According to the data, home sales in eight major cities fell by 95,547 homes during the third quarter of this calendar year, compared to 96,544 homes in the corresponding period of the previous year. Urban residential sales in the Mumbai Metropolitan Region (MMR) fell 22 percent to 23,334 homes during the period under review, compared to 30,010 homes a year ago.

In Pune, sales fell 28 percent from 18,004 to 12,990 units.

Residential sales in Delhi-NCR fell 21 percent from 10,098 to 7,961 units.

Ahmedabad saw sales decline by 5 percent from 9,352 to 8,889 units.

Finally, residential sales in Kolkata rose 33 percent to 3,729 units during July-September this year, compared to 2,796 units in the same period a year earlier.

On the outlook, Onkar Shetye, Executive Director, Aurum PropTech, noted that favorable conditions such as stability in interest rates and proactive policy reforms like the recent GST cut on cement have provided a crucial cushion against rising input costs and boosted developer confidence.

“We are optimistic about the upcoming festive quarter, which will serve as a key indicator of consumer demand. However, it will also be a real test of the market’s ability to balance this growth momentum with emerging affordability issues, especially in the mid-range and entry-level segments,” he noted.

In addition to PropTiger, Aurum PropTech owns and operates rental marketplace NestAway Technologies, data analytics company Aurum Analytica and sales automation platform Sell.do.