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News: Home Prices Rise in All Eight Cities in Q1 2026: PropTiger-28-05-2026

Average home prices in eight major cities rose between 3% and 24% year-on-year in the January-March quarter, with Bengaluru recording the steepest increase, according to PropTiger’s report Real INSIGHT – Residential Q1 2026.

Bengaluru’s average price rose 24% YoY and 3% QoQ to Rs 9785 per sq. ft., the second-highest after Mumbai MMR at Rs 15,120 per sq. ft. Its annual growth accelerated from 14% in Q1 2025 even as most other cities saw growth moderate. The report linked this to GCC and startup employment, which it said is proving more durable than conventional IT hiring cycles.

MMR prices rose 20% year-on-year, while Delhi-NCR saw an 18% rise to Rs 9,534 per sq ft, well below the 43% growth it recorded in Q1 2025. Pune and Hyderabad posted gains of 12% and 11%, Ahmedabad 8%, Kolkata 7% and Chennai the slowest at 3%. Quarter-on-quarter, prices across the eight cities rose between 1% and 9%. The weighted average price for the eight cities crossed Rs 10,000 per sq ft for the first time, reaching Rs 10,050 per sq ft.

PropTiger, part of the listed firm Aurum PropTech, tracks the primary (first sale) market in these cities.

Sales and supply

Housing sales in the eight cities fell 2.2% YoY but rose 1% QoQ to 95,973 units, while supply dipped 0.1% YoY and rose 1.1% to 93,065 units.

Year-on-year, sales rose in Bengaluru (33%), Chennai (43%), Hyderabad (25%) and Delhi-NCR (11%) and fell in MMR (15%), Pune (21%), Kolkata (24%) and Ahmedabad (23%). MMR sold the most with 26,116 units, followed by Bengaluru with 15,603.

Supply increased in Ahmedabad (96%), Delhi-NCR (29%), Hyderabad (23%), Chennai (4%) and Pune (2%), and declined in Bengaluru (13%), MMR (13%) and Kolkata (24%). MMR had the highest supply at 27,189 units, with Bengaluru next at 15,806.

Inventory outlook

Prakash Tejwani, CEO, PropTiger, said growth is now driven by demand quality, inventory discipline and buyer confidence, not speculative expansion. He noted that a disproportionate share of Q1 launches, particularly in Mumbai MMR, Bengaluru and Delhi NCR, was in premium and upper mid-income segments, so unsold stock in higher ticket sizes is expected to be absorbed more slowly.

The report said this does not signal systemic stress but underlines the need for pricing discipline in luxury and near-luxury segments going into H2 2026, adding that inventory remained well managed.

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