Home sales dip 19% in Q1, says report. How did Delhi-NCR market perform? Find out

Home sales fell by 19 per cent and new launches went down by 10 per cent across India’s top 8 real estate destinations in the first quarter of 2025 (January–March 2025), a latest report by PropTiger.com said.

Proptiger is part of REA India, which owns Housing.com – a digital real estate transaction and advisory platform.

The report highlights rising property costs and the global tariff and trade war causing instability in the job market. The real estate destinations analysed include Delhi-NCR, Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and Pune.

How did Delhi-NCR fare?

In the first quarter of 2025, only 8,477 units were sold in Delhi-NCR. This is 14 per cent less than sold units in last quarter (Q4) that was 9,808. This is 16 per cent less units sold units in first quarter (Q1) of 2024 - 10,058 units.

DeLhi-NCR a planning region centred upon the National Capital Territory (NCT) of Delhi in India. It comprises Delhi and several districts surrounding it from the states of Haryana, Uttar Pradesh, and Rajasthan. Gurugram, Noida, Ghaziabad and Faridabad and major real estate market towns in Delhi-NCR, apart from the capital city. 

Only Bengaluru, 13 per cent, and Chennai, 8 per cent, witnessed a jump in the Q1 of 2025 in comparison of Q1 of 2024, according to the report. Rest of the destinations saw home sales down from 1 to 26 per cent, it said.

In terms of new project launches, only 7,952 units were launched in Q1 of 2025 in Delhi-NCR. This is 21 per cent less than 10,048 units launched during Q4 of 2024. But this figure has shown jump of 16 per cent in comparison of 2024 when 6,872 units were launched during January to March.

Apart from Delhi- NCR, only Bengaluru and Kolkata have witnessed jump of 82 and 138 per cent respectively in home sales. Rest of the destinations have registered home sales down from 10 to 38 per cent.

What do market experts say?

Market experts said demand and supply in real estate sector have never been similar. After sharp jump of 2023-24, the real estate sector is going through session of price correction. This could be possible reasons of delay in decision making of home buyers which is absolutely instinctive.

Dinesh Gupta, Secretary, CREDAI Western UP said that the real estate market always shows variations. “In 2024, demand and supply were at their peak. After the festival season, we noticed limited new launches because of a fall in demand. Also, this quarter had a better supply than last year, which shows a healthy market trend,” he said.

CREDAI or the Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body of private Real Estate developers in India.

Himanshu Garg, Director, RG Group said that supply in real estate sector moves as per demand and 3 & 4 BHK units have been dominating for a long time. “As per my experience, if units belong to affordable and mid-affordable segment, the project won’t face any issue in demand because this segment has higher number of home buyers,” he said.

Shaildendra Sharma, Chairman of Renox Group mentioned that new home loans have become more affordable due to low interest rate. “Units in newly launched and under-construction projects are more pocket friendly than ready to move projects and moreover, RERA regulations are ensuring successful completion of them. In this scenario, home buyers are preferring new projects and where options are wide and budget is perfectly suitable,” he said.