Mumbai, November 5, 2026: India’s residential market saw a 15% year-on-year increase in housing sales value during January–September 2026, outpacing a 6% growth in units sold to reach 214,562 units across the top seven cities, according to JLL. This marks a reversal from the 12% decline recorded in the same period of 2025, with the rebound driven primarily by robust demand for premium homes priced at INR 1 crore and above.
Premium housing accounted for 72% of total sales in the first nine months of 2026, up from 62% a year earlier, as this segment posted 23% year-on-year growth. The INR 1.5–3.0 crore price band led the surge, registering a 54% increase in sales and capturing a 37% share of overall transactions, compared to 25% in the previous year. In contrast, the mass housing segment (sub-INR 1 crore) saw sales decline 23% year-on-year, reflecting a shift in buyer preference toward larger, higher-specification homes.
City-wise sales and launches
Bengaluru, Mumbai, Hyderabad, and Pune each recorded over 12,000 unit sales in Q3 2026, collectively representing about 76% of total quarterly sales. Chennai registered the highest year-on-year growth in sales at 22%, followed by Bengaluru at 18% and Hyderabad at 16%. Bengaluru, Mumbai, and Pune together accounted for 60% of national sales volume, maintaining their combined share from Q3 2025.
Residential launches across the top seven cities rose 15% year-on-year to 259,425 units during January–September 2026. The increase was led by Bengaluru (up 41%), Hyderabad (up 37%), and Mumbai (up 24%), while Kolkata, Chennai, and Pune saw contractions in new supply. In Q3 2026 alone, launches reached 90,918 units, a 28% rise from 70,915 units in Q3 2025 and a 16% increase quarter-on-quarter.
Capital value appreciation and price trends
Capital values continued to rise across major cities in Q3 2026, underpinned by sustained demand in the premium and luxury segments. Bengaluru recorded the highest annual capital value appreciation at 15%, followed by Chennai at 12% and Kolkata at 11%. Delhi NCR and Mumbai posted gains of 10% and 8% respectively, while Pune saw a 6% increase.
Quarterly sales growth was also notable, with India’s top seven cities posting a 12% quarter-on-quarter increase in Q3 2026 to 76,181 units. Hyderabad (up 70%), Kolkata (up 28%), and Bengaluru (up 13%) led the gains, while Delhi NCR and Mumbai experienced marginal declines of 5% and 2% respectively.
Shift toward premium housing
Sales in the premium segment (above INR 1 crore) reached 154,996 units, representing a 23% year-on-year increase and 72% of total sales, compared to 62% in the same period last year. The sub-INR 1 crore segment accounted for 28% of sales, down from 38% a year earlier. The less than INR 50 lakh category saw a 36% decline in sales, now comprising just 6% of the total market.
Developers continued to align new supply with premium-led demand, with significant increases in launches in Bengaluru, Hyderabad, and Mumbai. The market’s center of gravity has shifted toward higher-ticket transactions, with buyers showing a preference for established developers, superior specifications, and prime locations.
Market outlook and expert view
Siva Krishnan, Senior Managing Director (Chennai & Coimbatore) and Head – Residential Services, India at JLL, said the first nine months of 2026 reaffirmed the structural shift toward premium and larger-format homes. “Sales momentum has been led decisively by the INR 1.5-3.0 crore segment, which grew 54% year-on-year, while developers have matched this demand with a massive 70% increase in launches. At the same time, the mass housing segment continues to see demand moderate, underscoring a clear bifurcation in buyer preferences. Capital values have moved in tandem with this shift, with cities such as Bengaluru, Chennai and Kolkata recording the steepest gains in Q3 2026. We expect this premium-led growth pattern, supported by calibrated new launches, to remain the defining theme of the market through the remainder of 2026,” Krishnan said.
JLL noted that the divide between premium and affordable housing is likely to persist through the rest of 2026, with value growth expected to continue outpacing volume growth as buyer confidence remains strong in the higher-value segments.
Disclaimer: This article is based on a press release provided by the concerned organisation and has been edited for style and clarity with the assistance of AI tools. BusinessFortnight does not verify, endorse, or take responsibility for the claims, figures, or statements made in the original release.
