Tier-1 Housing Sales Stand at Rs. 3.63 Lakh Crore in H1 2026

Tier-1 housing sales reached Rs. 3.63 lakh crore in H1 2026, with MMR leading at 26% of national value and Rs. 2–5 crore homes

India’s primary housing market appears to be entering a more measured phase, with sales value holding steady even as the number of homes sold declines and new supply continues to rise. Primary housing sales across Tier-1 cities stood at around Rs. 3.63 lakh crore in H1 2026, virtually unchanged from the record level recorded in H1 2025, according to the September 2026 India Housing Report by CRE Matrix and the National Association of Realtors-India.
While sales value remained stable, volumes fell about 2% to 2.58 lakh units. At the same time, developers launched nearly 2.98 lakh units, marking a 7% year-on-year increase. The divergence suggests that housing values are holding up even as fewer homes are changing hands and fresh supply is running ahead of absorption.
The average ticket size across the market stood at around Rs. 1.4 crore, up just 2% year-on-year, marking its slowest increase in three years. The numbers point to a market where the headline value of sales alone does not tell the full story.

MMR Takes the Lead

The most significant geographical shift in H1 2026 was MMR overtaking NCR as India’s largest housing market by sales value. Mumbai Metropolitan Region accounted for 26% of national housing sales value, compared with 19% for NCR.
MMR recorded approximately Rs. 93,800 crore in primary housing sales, an 8% annual increase, while volumes rose about 9% to around 83,600 homes. Unlike several other major markets, MMR’s growth was largely volume-led, with its average ticket size remaining broadly stable at Rs. 1.12 crore.
Mumbai city, however, followed a different trajectory. Primary housing sales rose 4% to Rs. 58,362 crore, while volumes remained broadly flat at around 24,500 units. The average ticket size increased 4% to a record Rs. 2.38 crore, making Mumbai’s growth primarily price-led.

Bengaluru Defies the Slowdown

Bengaluru stood out among the major markets, with housing sales value rising 25% year-on-year to Rs. 60,875 crore. Volumes increased 7% to approximately 34,600 units, while the average ticket size rose 17% to Rs. 1.76 crore.
The city’s sales mix also shifted towards higher-value homes. The Rs. 2-5 crore segment accounted for 41% of Bengaluru’s housing sales value in H1 2026, compared with 32% a year earlier. Meanwhile, homes priced below Rs. 1 crore accounted for a single-digit share.
The growing importance of the Rs. 2-5 crore segment is also visible across NCR. Robin Mangla, President, M3M India, said the segment reflects the growing depth of India’s premium residential market and changing buyer preferences towards larger homes, established locations and enhanced lifestyle offerings.
He pointed to NCR’s sales of Rs. 27,125 crore across 8,778 homes in the segment during H1 2026, saying buyers are increasingly evaluating homes through factors such as design, amenities, connectivity and the overall living experience.

NCR and Gurugram See a Reset

NCR recorded a markedly different performance. Sales value fell approximately 24% to Rs. 68,217 crore, while volumes declined 9% to around 24,600 units. Its average ticket size fell 16% to Rs. 2.77 crore from Rs. 3.31 crore in H1 2025.
Gurugram saw an even sharper correction. Sales value declined 33% to Rs. 37,726 crore, although volumes remained broadly stable at around 12,000 units. The average ticket size dropped 32% to Rs. 3.15 crore, compared with Rs. 4.65 crore in H1 2025.
Santosh Agarwal, Executive Director & CFO, Alpha Corp Development Limited, said the Rs. 2-5 crore segment increasingly reflects how premium homebuying is evolving, with attention shifting beyond size and price towards planning, design, amenities, connectivity and the surrounding ecosystem.
CRE Matrix data puts NCR’s average residential ticket size at Rs. 3.64 crore in CY2025. Agarwal said the growing relevance of higher-value housing calls for greater differentiation in premium projects, while giving buyers more depth and choice across the premium spectrum.

Premiumisation Across Major Markets

Hyderabad also recorded a divergence between value and volume. Sales value remained broadly flat at Rs. 56,966 crore, while volumes declined 11% to around 28,200 units. The average ticket size rose 13% to a record Rs. 2.02 crore. Homes priced at Rs. 5 crore and above accounted for 27% of sales value, while sub-Rs. 1 crore homes represented just 8%.

The city also saw nearly 46,900 new launches, up 22% year-on-year.

Chennai offered another clear example of premiumisation. Sales value increased 16% to Rs. 13,722 crore even as volumes fell 12% to around 10,500 units. The average ticket size jumped 32% to ₹1.31 crore. The share of sub-₹1 crore homes fell from 41% to 27% of sales value, while homes priced at ₹2 crore and above rose to 44%.

Navi Mumbai-Raigad Gains Momentum

Within MMR, Navi Mumbai and Raigad recorded the fastest growth in sales value. Sales rose 29% to Rs. 12,292 crore, while volumes increased 20% to around 17,300 units. The average ticket size rose 8% to Rs. 71 lakh. Launches in the region surged 29% to around 25,800 units. The Rs. 2-5 crore segment increased its share of sales value from 14% to 20%, while the sub-Rs. 1 crore segment fell to 46%. H1 2026 shows a housing market where sales value has remained resilient, but volume growth has weakened. With launches rising faster than sales and premium segments accounting for a larger share of value in several cities, the market’s next phase is being shaped as much by the composition of demand as by the number of homes sold.