New Delhi, May 16 (IANS) India’s residential real estate market has transitioned into a “structurally mature, demand‑anchored growth phase”, with Q1 2026 recording 93,065 new unit launches and 95,973 unit sales across the top eight cities, a report said on Saturday.

The report from PropTiger said the supply rose 1.1 per cent sequentially and sales improved 1 per cent quarter‑on‑quarter.

The weighted average price reached a record high of Rs 10,050 per sq ft — crossing the five‑digit benchmark for the first time — “signalling that value creation now drives market health rather than transaction volume.”

“The Indian residential market has transitioned into a structurally more disciplined phase. Growth today is increasingly being driven by demand quality, inventory discipline, and buyer confidence rather than speculative expansion,” said Prakash Tejwani, CEO, PropTiger.

The supply remained flat at -0.1 per cent on a YoY basis, while sales moderated to -2.2 per cent, reflecting healthy normalisation rather than structural weakness, the report noted.

Bengaluru emerged as the standout performer, recording sales of 15,603 units, up 33 per cent year‑on‑year and 12 per cent sequentially. The city also maintained near-parity between new supply and sales absorption, indicating a well-balanced market.

The GCC and startup employment engine continues to prove more durable than conventional IT hiring cycles, providing Bengaluru with a structurally differentiated demand base.

Mumbai Metropolitan Region remained the largest market by volume and value with 26,116 sales units in Q1 2026. Though the performance moderated on YoY basis, it reflected base-effect normalisation against an exceptional 2025, rather than a loss of demand momentum, the report noted.

Chennai, Hyderabad and Delhi‑NCR also posted robust gains in sales from 11 per cent to 43 per cent, while Pune, Kolkata and Ahmedabad showed mixed trends.

A disproportionate share of new launches in Q1 2026 — particularly in Mumbai MMR, Bengaluru, and Delhi NCR — remained concentrated in the premium and upper mid-income segments, driving the average property prices higher.

The outlook for Q2 2026 is constructive, the firm said, predicting a steady sequential growth of 2–4 per cent and sustained year‑on‑year price appreciation of 4–8 per cent across major metros driven by limited mid-segment supply.

—IANS

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