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India Gazette
2 days ago
- Business
- India Gazette
Home sales in top 7 cities drop by 32% in first half of 2025
Mumbai (Maharashtra) [India], June 30 (ANI): The top 7 cities recorded around 1,89,570 units sold between January and June 2025 -- a steep 32 per cent drop compared to the same period last year, according to ANAROCK Research. The Mumbai Metropolitan Region (MMR) was among the worst-hit, with sales falling 34 per cent, from 84,465 units in H1 2024 to just 62,890 units in H1 2025. India's housing market witnessed a sharp slowdown in the first half of 2025, with home sales falling significantly across major cities. Along with more registrations, the state government earned a record Rs 6,699 crore in revenue, which is 14 per cent higher than last year's Rs 5,874 crore. In June alone, 11,211 properties were registered, bringing in Rs 1,004 crore in revenue. Though slightly fewer than the 11,673 registrations in June 2024, this year's revenue was almost the same - showing buyers are spending more on costlier homes. Anuj Puri, Chairman of ANAROCK Group, said, 'While registrations dipped slightly - about 4% lower than June 2024's 11,673 deals - this year's revenue held firm, matching almost last year's figure. In fact, June 2025's revenue was just 1% lower than last year, highlighting the market's resilience despite a marginal drop in transactions. Mumbai's real estate continues to deliver strong numbers, even as the pace has cooled a bit.' Interestingly, even though housing sales across the Mumbai Metropolitan Region (MMR) dropped by 32 per cent in H1 2025, registrations in Mumbai city remained high. This is largely because of a rush in March 2025, when buyers hurried to register properties before the 3.9 per cent increase in ready reckoner rates for FY26. That month alone saw 15,501 registrations and over Rs 1,589 crore in revenue. Another trend this year is the rise in average home prices. In H1 2025, the average ticket size of homes was Rs 1.60 crore, higher than Rs 1.56 crore in H1 2024, and much higher than Rs 1.02 crore in 2021. This shows that Mumbai is seeing more sales of high-value homes than affordable ones. (ANI)
Time of India
3 days ago
- Business
- Time of India
High-value homes fuel Mumbai's real estate momentum in H1 2025
Mumbai's real estate market continues to defy domestic and global headwinds, recording its best-ever performance in the first half of 2025, ANAROCK Research said in a statement. According to fresh data from the Maharashtra State Revenue Department, property registrations in the city touched a historic high of 75,672 units between January and June 2025, marking a 4% year-on-year (YoY) growth over the same period last year. Revenue collections from these registrations surged to Rs 6,699 crore, a robust 14% increase compared to Rs 5,874 crore in H1 2024, reflecting continued buyer appetite and rising property prices. 'June 2025 alone witnessed 11,211 property registrations, the second highest for the month in six years,' said Anuj Puri, Chairman, ANAROCK Group. 'Although this figure was 4% lower than the 11,673 registrations seen in June 2024, revenue collection remained resilient at Rs 1,004 crore—just 1% below last year's level. This shows that despite a slight decline in the number of deals, the market is being buoyed by the sale of higher-value properties.' March 2025: A Historic Surge One of the standout months was March 2025, when 15,501 properties were registered, making it the highest March total in the past three years. The surge was largely attributed to a rush by buyers to lock in purchases before the 3.9% hike in Maharashtra's ready reckoner rates for FY26 came into effect. The month raked in over Rs 1,589 crore in revenue, underscoring the urgency among homebuyers to beat the price hike. Only two months in recent memory—December 2020 (19,581 registrations) and March 2021 (17,728)—have surpassed these numbers, both during the pandemic-era stamp duty concessions. High -Value Homes Drive Growth Interestingly, the robust registration data comes at a time when overall housing sales in the Mumbai Metropolitan Region (MMR) saw a decline. According to ANAROCK Research, 62,890 units were sold in MMR in H1 2025, down 34% from 84,465 units in H1 2024. However, the average ticket size of homes sold in Mumbai rose to Rs 1.60 crore, up from INR Rs crore last year and significantly higher than Rs 1.02 crore in H1 2021, reflecting a 55% jump over four years. 'This indicates a clear shift towards premium housing,' Puri noted. Key Highlights: 75,672 properties registered in H1 2025, up 4% YoY Revenue collection: Rs 6,699 crore, up 14% from H1 2024 Average ticket size: Rs 1.60 crore, 3% higher than last year March 2025 registrations: 15,501 units, highest March tally in three years Despite a 34% dip in MMR housing sales, Mumbai's registration activity remains strong T he Road Ahead: Mumbai's property market has once again proven its resilience. Despite geopolitical tensions and fluctuating macroeconomic signals, the city has continued to attract high-value investments in real estate. With premium housing leading the charge, and strategic policy timing influencing buyer behavior, Mumbai's real estate narrative remains one of long-term strength and evolving sophistication.
News18
3 days ago
- Business
- News18
Mumbai Property Registrations Hit All-Time High Of 75,672 In January-June, Rises 4% YoY
Last Updated: The revenue generated from these registrations in Mumbai also jumps 14% year-on-year to Rs 6,699 crore, compared with Rs 5,874 crore in H1 2024. Mumbai's real estate market has defied global and domestic headwinds in the first half of 2025, posting record-breaking figures in both property registrations and government revenue. The latest data from the Maharashtra State Revenue Department shows that between January and June 2025, Mumbai recorded 75,672 property registrations, which was up 4% from 72,491 in the corresponding period last year. The revenue generated from these registrations also jumped 14% year-on-year to Rs 6,699 crore, compared with Rs 5,874 crore in H1 2024, according to data from the Inspector General of Registration (IGR). This robust performance comes despite broader market challenges, including geopolitical tensions, domestic uncertainties, and muted housing sales across the Mumbai Metropolitan Region (MMR). June Clocks Second-Highest Registrations in 6 Years According to the data, June 2025 alone saw 11,211 property deals in Mumbai, making it the second-highest registration month for June in the last six years. The city earned Rs 1,004 crore in revenue during the month. While transaction volume was 4% lower compared to June 2024's 11,673 registrations, revenue held steady, dipping just 1% year-on-year. 'June 2025 saw Mumbai notch up its second-highest property registrations for the month in six years, with 11,211 properties changing hands and revenue collections hitting an impressive Rs 1,004 crore," said Anuj Puri, Chairman of ANAROCK Group. 'While registrations dipped slightly – about 4% lower than June 2024's 11,673 deals – this year's revenue held firm, matching almost last year's figure." 'Behind this seeming paradox lies a record-breaking March. After the announcement of a 3.9% hike in Maharashtra's ready reckoner rates for FY26, buyers rushed to register properties, resulting in a whopping 15,501 registrations – the highest March tally in three years. For perspective, only December 2020 (19,581) and March 2021 (17,728) saw higher numbers, both during the COVID-era stamp duty cut. March is always a hot month for registrations, but March 2025 was exceptional, raking in over ₹1,589 crore in revenue from property registrations alone," Puri added. The data also points to a growing preference for high-value homes. The average ticket size of properties registered in H1 2025 stood at Rs 1.60 crore, a 3% rise from Rs 1.56 crore in H1 2024. When compared to H1 2021, where the average was Rs 1.02 crore, the increase is a substantial 55%. 'In short, 2025 continues to record more sales of high-ticket price homes in comparison to more affordable ones," Anarock Research said. First Published: June 30, 2025, 14:57 IST
Hindustan Times
3 days ago
- Business
- Hindustan Times
Housing sales decline 20% in India, 25% in MMR
Mumbai: Increasing property prices and geopolitical tensions across the world have hit housing sales in seven metropolitan cities in India, with sales dropping by 20% in the second quarter of 2025 compared to the second quarter of 2024. The Mumbai Metropolitan Region (MMR) was hit the hardest, with housing sales dropping by 25%, from 41,540 units in the second quarter of 2024 to 31,275 units in the second quarter of 2025, according to a report by real estate consulting firm, Anarock. (Hindustan Times) Approximately 96,285 houses were sold in the second quarter (April-June) of 2025 across the seven metropolitan cities – National Capital Region, MMR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata, compared to 120,335 houses sold in the same period in 2024. Housing sales in the seven cities increased marginally by 3% compared to the first quarter of 2025, the report shows. Chennai, the National Capital Region (NCR), Hyderabad and Bengaluru witnessed a spike in sales by 40%, 14%, 9% and 1% respectively. But in Kolkata, Pune and the MMR, housing sales dropped by 10%, 4% and 1%, respectively. 'The second quarter of 2025 was a rollercoaster for the Indian housing market, rocked by major military actions at home and abroad. The war-like climate pushed homebuyers into wait and watch mode, compounding the impact of soaring property prices over the past two years,' Anuj Puri, chairman, Anarock Group, told Hindustan Times. 'Now, with domestic tensions easing and the Reserve Bank of India's repo rate cut injecting fresh optimism, buyer sentiment is rebounding.' Similar sentiments were shared by other real estate consultants. 'Geopolitical tensions always have an impact on Indian real estate, though the degree varies depending on the geography and Indian economic interests in those countries,' said a real estate consultant, requesting anonymity. 'This time around, with America intervening in the Iran-Israel war, people feared that a medium to large-scale conflict may lead to economic slowdown or job cuts. Hence, home hunters decided to keep their purchase decisions on hold.' In keeping with the dip in sales, new launches decelerated by 16% on a year-on-year basis, from approximately 117,165 units in the second quarter of 2024 to around 98,625 units in the second quarter of 2025. Realty hotspots MMR and NCR saw the maximum new supply, accounting for 48% of the total new supply across the seven cities. MMR witnessed a 36% yearly decline and a 8% quarterly decline in new supply. One of the top developers in the MMR, who recently launched a project in the extended Navi Mumbai area, said, 'When the Ukraine-Russia conflict broke out in February 2022, we thought it would last only a few weeks, but we have been proved wrong. But that conflict did not have as much impact on India's realty industry as the one in the Middle East, especially with America's involvement.' Puri was optimistic about an uptick in sales in forthcoming quarters. 'Despite a 20% year-on-year dip in sales across the top seven cities, a 3% uptick this quarter signals renewed momentum,' he said. 'With home loan rates softening and developers largely holding prices steady, the stage is set for a potential upswing in housing sales in the coming quarters.'
Hindustan Times
4 days ago
- Business
- Hindustan Times
3BHK homes in the spotlight: From reel dreams to real struggles, nearly 48% aspire for 3BHKs, but can only afford 2BHKs
The spotlight is firmly on 3BHK homes, with the upcoming Tamil film 3BHK set to explore the struggles of a middle-class family pursuing the dream of owning a 3BHK house. Slated for release next month, the film follows Prabhu, a schoolboy who returns home to find his house flooded with rainwater. Amidst these challenges, he perseveres in his studies and strives to secure a good job, all to help his father save for their dream home. Despite the ongoing surge in property prices, 3BHK homes remain the preferred choice for most homebuyers. However, affordability issues are starting to push many potential buyers towards 2BHK apartments. (Photo for representational purposes only).(Shutterstock) A few months ago, a Reddit user shared a personal account of their attempts to buy a 3BHK apartment in Gurgaon, despite having a budget of ₹ 1.8 crore. These stories resonate with many, highlighting a harsh reality for urban dwellers: even with a seemingly substantial budget, owning a 3BHK home in India's major cities is becoming increasingly unattainable. They highlight the growing gap between aspirational homebuyers and the skyrocketing property prices in urban areas. Also Read: Gurgaon user fails to buy a home despite ₹ 1.8 crore budget, sparks debate: 'Pressure from family' Demand for 3BHKs persists, but affordability drives shift to 2BHKs Despite the ongoing surge in property prices, 3BHK homes remain the preferred choice for most homebuyers. However, affordability issues are starting to push many potential buyers towards 2BHK apartments. According to real estate experts, this shift is especially noticeable in cities like Mumbai, where rising prices are making it harder for middle-class families to afford larger homes. As a result, the demand for 2BHKs is increasing, offering a more budget-friendly alternative to the coveted 3BHK. According to Anarock's data from a survey conducted in H2 2024, 48% of respondents across the top seven cities expressed a preference for 3BHK apartments, while 39% favoured 2BHKs. However, this marks a slight dip from 51% in the previous survey (H1 2024) for 3BHKs, suggesting that rising housing costs are pushing some buyers toward more affordable configurations. "This dip can be essentially attributed to the growing unaffordability of homes across cities amid escalating residential prices. Many homebuyers who earlier preferred a 3BHK are now considering a 2BHK as it is within their budget range," Anuj Puri, chairman of ANAROCK Group, told The survey, conducted across Bengaluru, Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Hyderabad, Chennai, and Kolkata, reflects how shifting financial considerations, particularly in costlier markets, are reshaping buyer choices. Also Read: Siddharth gets emotional at 3BHK trailer launch, talks about his father's reaction to his 40th film Bigger remains better but at a cost The strong preference for 3BHKs is a trend that has been growing steadily over the years, rising from 41% in H1 2022 to nearly 51% in H1 2024. This shift is largely attributed to lifestyle changes post-pandemic, such as the adoption of hybrid work models, increased demand for home offices, and the need for additional space for family and leisure. While the interest in 3BHKs remains strong, we are seeing early signs of affordability stress, experts said. In cities where residential prices are rising sharply, buyers are reconsidering their budgets and opting for 2BHKs, they say. Also Read: ' ₹ 2.7 lakh for 3 BHK?': Bengaluru resident calls out sky-high rent, internet reacts Mumbai is an exception Anarock said the majority of prospective buyers in the 7 top cities, except MMR, are looking to buy a 3BHK home. According to the survey, MMR has the highest preference for 2BHKs, with 40% of respondents preferring it over other BHK configurations, followed by 3BHKs with 36% preference. "Price is certainly a deterrent for several homebuyers in MMR to buy a 3BHK. The average residential prices here are the highest among all the top 7 cities at ₹ 17,100 per sq. ft. as of Q2 2025," Puri said. Moreover, among the top 7 cities, Hyderabad has the highest demand for 3BHKs, with 55% of prospective buyers preferring to buy a 3BHK, followed by Chennai and NCR, where 53% each prefer a 3BHK and 48% in Bengaluru. In cities like Pune, 47% of buyers prefer 3BHKs, and in Kolkata, 46% of buyers lead the preference. For 2BHKs, Kolkata leads with 46% preference, followed by Pune with 41% and Mumbai with 40%. Bengaluru homebuyers prefer 34%, Delhi NCR at 36% and Hyderabad at 38%. Mumbai tops the demand for 1BHKs at 20%, while all other cities show single-digit interest in this configuration.
