NCR, Chennai lead FY26 housing market surge; home sales value may jump 19%

As global headwinds, geopolitical tensions, and high prices continue to test markets, India’s housing sector remains resilient. Latest ANAROCK Research data shows that while residential sales volumes are stabilising across the top seven cities, the overall value of primary housing market sales is expected to record a double-digit growth of over 19% year-on-year in FY26, touching nearly ₹6.65 lakh crore.

In contrast, sales volume growth is projected to stagnate, rising no more than 4% during the same period. This divergence underscores a defining trend in the Indian real estate landscape, a market powered increasingly by luxury and ultra-luxury housing segments.

"Our research shows that the overall housing sales value in FY26 may see over 19% Y-o-Y growth across the top seven cities to exceed ₹6.65 lakh crore**,” said Dr Prashant Thakur, Executive Director & Head of Research & Advisory, ANAROCK Group. “The current trends indicate potential double-digit sales value growth by the end of the ongoing fiscal, even as sales volume either stagnates or sees moderate growth not exceeding about 4%.”

The value surge comes even as unit sales dipped by 14% year-on-year in FY2025, when total sales stood at 4.22 lakh units, valued at ₹5.59 lakh crore, the highest since FY2022. This indicates that home prices are rising sharply, propelled by strong premium-segment demand.

NCR and Chennai outperform in FY26

The first half of FY26 shows significant regional variation. NCR and Chennai have raced ahead, already achieving 74% and 71%, respectively, of their entire FY25 sales value.

NCR: 29,175 units sold in H1 FY26 worth ₹75,859 crore (FY25: ₹1,02,810 crore, 58,775 units).

Chennai: 11,670 units sold worth ₹12,370 crore (FY25: ₹17,387 crore, 17,765 units).

In contrast, the Mumbai Metropolitan Region (MMR) lags, achieving just 45% of its previous fiscal year’s total sales value. The region sold 61,540 units worth ₹1 lakh crore in H1 FY26 versus ₹2.23 lakh crore in FY25.

Other key cities showed moderate performance:

Bengaluru: 29,955 units sold worth ₹43,627 crore (FY25: ₹79,819 crore, 62,440 units).

Pune: 32,030 units sold worth ₹30,324 crore (FY25: ₹66,058 crore, 74,200 units).

Hyderabad: 22,345 units sold worth ₹30,646 crore (FY25: ₹59,243 crore, 48,980 units).

Kolkata: 7,655 units sold worth ₹5,429 crore (FY25: ₹10,753 crore, 16,580 units).

Luxury segment fuels growth

According to ANAROCK, 42% of the new housing supply in H1 FY26 was in the luxury and ultra-luxury categories, reaffirming the dominance of high-net-worth and aspirational buyers.

The demand for larger, premium homes continues to drive average price escalation across cities.