News: Knight Frank: Home Sales Dip 4% in Q1 2026, Rs 1 Cr+ Up 11%-07-04-2026
Housing sales in India’s top eight cities fell 4% year-on-year to 84,827 units in Q1 2026, from 88,361 units a year earlier, according to Knight Frank. The firm sees early signs of recalibration after a long period of strong growth, amid global uncertainties including the US-Iran conflict.
Mumbai’s sales dropped 7% to 23,185 units, and Delhi-NCR and Pune fell 11% each to 12,734 and 12,711 units. Bengaluru rose 5% to 13,092 units, Hyderabad 1% to 9,541 and Chennai 9% to 4,763, with Ahmedabad and Kolkata also growing.
New supply declined 2% to 94,855 units. Launches slowed everywhere except Bengaluru, Chennai and Ahmedabad. NCR saw the sharpest fall at 8% YoY, followed by Hyderabad and Kolkata at 6% each, Pune at 5% and Mumbai at 1%.
Prices stayed high. Ghaziabad and Greater Noida led with YoY increases of 13% and 11%, and Mumbai remained the costliest market at a weighted average of Rs 36,049 per sq ft.
Demand tilted further towards premium homes. Sales above Rs 1 crore grew 11% YoY, while the sub-Rs 50 lakh and Rs 50 lakh-Rs 1 crore segments shrank 23% and 12%. The Rs 1-2 crore segment rose 10% and made up 29% of sales. Sales increased 17% in the Rs 2-5 crore segment, 12% in Rs 10-20 crore and 80% in Rs 20-50 crore.
Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said the moderation warrants closer attention, since rising prices alongside softer volumes point to pressure on affordability and absorption. A volatile geopolitical situation and sustained correction in equity markets had also subdued interest, he said. He called for targeted measures to support the sub-Rs 1 crore segment, which he described as critical to transaction volumes, while maintaining that the phase is not a structural slowdown because drivers such as economic growth and home loan rates remain intact.
