Sales across the top eight cities, including Hyderabad, stand at 84,827 units during the quarter. This marks a 4% drop compared to 88,361 units recorded in the same period last year.

Prices, global tensions weigh on demand

The report attributes the decline to rising property prices and economic uncertainties linked to the West Asia conflict. These factors impact buyer sentiment and slow down demand.

Telangana civil society demands IIM in Hyderabad, calls it a 'glaring injustice'

Shishir Baijal says market stabilisation is natural after several years of sustained growth. He adds that rising prices alongside falling sales indicate pressure on homebuyers' affordability.

Geopolitical tensions also influence housing demand during the March quarter, the report notes.

City-wise performance shows mixed trends

Hyderabad records 9,541 units in sales, reflecting a 1% increase compared to the same period last year.

Bengaluru sees a 5% rise with 13,092 units sold. Chennai reports a 9% increase to 4,763 units, while Ahmedabad registers a 2% growth with 4,758 units.

Kolkata records sales of 4,043 units, marking a 5% increase.

Mumbai witnesses a 7% decline, with sales falling to 23,185 units. Delhi-NCR records 12,711 units, down 11% year-on-year. Pune also reports an 11% drop, with sales at 12,711 units.

New supply also declines slightly

New housing supply during the January-March quarter declines 2% year-on-year to 94,855 units, indicating cautious developer activity.