房地产 -2025年第四季度印度市场监测报告-住宅市场 India Market Monitor Q4 2025 – Residential

IntelligentInvestment

IndiaMarketMonitorQ42025

Residential

REPORTCBRERESEARCHJanuary2026

CBRE

Residential

India’sresidentialmarketdemonstratedstructuralmaturityin2025,withsalesandlaunchesbothexceeding270,000units—aresilientperformancethatkeptsupplyinequilibriumwithevolvingdemand.Notably,theyearwitnessedasignificantshiftasthehigh-endhousingcategorysurpassedthemid-endsegmenttocaptureaprominentshareoftotalresidentialsales.

70%

Y-o-Ygrowthinluxuryapartmentsalesin2025

27%

61%

CumulativeshareofMumbai,Pune,andDelhi-NCRinlaunchesinQ42025

*Note-Definitionofsegmentsasperticketsize(INR)for(Mumbai&DelhiNCR):Afordableupto45lakh;Budget45-75lakh;Mid-end1-1.5cr;High-end1.5-3cr;Premium3-6cr;Luxury6-50crandUltraLuxury50crandabove.

For(Bengaluru&Hyderabad):Afordableupto45lakh;Budget45-75lakh;Mid-end75lakh-1.5cr;High-end1.5-2.5cr;Premium2.5-5cr;Luxury5-50crandUltraLuxury50crandabove.

For(Pune,Chennai&Kolkata):Afordableupto45lakh;Budget45-75lakh;Mid-end75lakh-1.25cr;High-end1.25-2.5cr;Premium2.5-4crandLuxury4crandabove.

Shareofhigh-endprojectsinsalesinQ4andCY2025each,closelyfollowedbymid-endprojects*

62%

Y-o-YgrowthinluxuryapartmentsalesinQ42025

59%

CumulativeshareofMumbai,Pune,andDelhi-NCRinsalesinQ42025

1CBRERESEARCH|IndiaMarketMonitorQ42025©2026CBRE,INC.

MarketPerformanceinQ42025

RESIDENTIAL

High-end

27%28%

sharein

Q42025

sharein

Q32025

Mid-end

26%29%

sharein

Q42025

sharein

Q32025

Categories

thatdrovesales*

Salesin2025

Unitlaunchesin2025

Salesin

Q42025

UnitlaunchesinQ42025

~2,~0

Q42025CV**indicatorarrows(Q-o-Q)

PremiumandLuxury

19%14%

sharein

Q42025

sharein

Q32025

Budget

22%21%

sharein

Q42025

sharein

Q32025

Afordable

6%8%

sharein

Q42025

sharein

Q32025

Increase

Decrease

~275,800~60,100

Stable

Unitlaunchesin2025UnitlaunchesinQ42025

Kolkata

Delhi-NCR

Citiesthatdrovesales

~3,600~16,200 ~2,850~14,200

27%

26%

Mumbai

Pune

17%15%

Delhi-NCR

15%14%

sharein

Q42025

Hyderabad

15%14%

sharein

Q42025

sharein

Q32025

sharein

Q42025

sharein

Q32025

sharein

Q42025

sharein

Q32025

~9,700~40,200~10,800~40,100

sharein

Q32025

Mumbai

~16,600~70,650

~13,450~57,300

Pune

High-end

sharein

Q42025

Budget

sharein

Q42025

Mumbai

sharein

Q42025

n

Delhi-NCR

sharein

Q42025

Hyderabad

PrevailingtrendsinunitlaunchesinQ42025

Mid-en

24%

sharein

Q42025

35%

15%

Pune

21%

sharei

Q42025

22%

18%

d

~9,500~35,500

~8,700~37,500

~10,500~44,400

~12,500~53,200

Chennai

~21,700

~22,600

Bengaluru

~4,100

*Note-Definitionofsegmentsasperticketsize(INR)for(Mumbai&DelhiNCR):Afordableupto45lakh;Budget45-75lakh;Mid-end1-1.5cr;High-end1.5-3cr;Premium3-6cr;Luxury6-50crandUltraLuxury50crandabove.

For(Bengaluru&Hyderabad):Afordableupto45lakh;Budget45-75lakh;Mid-end75lakh-1.5cr;High-end1.5-2.5cr;Premium2.5-5cr;Luxury5-50crandUltraLuxury50crandabove.For(Pune,Chennai&Kolkata):Afordableupto45lakh;Budget45-75lakh;Mid-end75lakh-1.25cr;High-end1.25-2.5cr;Premium2.5-4crandLuxury4crandabove

~3,200

~8,500~44,500

~8,600~50,900

*Capitalvalue

Source:CBREResearch,Q42025

Pleasenotethatthenumbershavebeenroundedofandmightnotadduptotheexacttotal.

©2026CBRE,INC.

Note:Thedatapresentedinthisreportwascompiledatthetimeofreportgenerationandmayberevisedinsubsequentquartersasmoreinformationbecomesavailable.Therefore,thedatashouldbeconsideredasprovisionalandsubjecttoongoingrefinement.

2CBRERESEARCH|IndiaMarketMonitorQ42025

3CBRERESEARCH|IndiaMarketMonitorQ32025©2025CBRE,INC.

Outlook

Residential

Thestructuralreconfigurationobservedinthe

residentialsectorduring2025isexpectedto

continueinthecomingquarters,markinga

transitiontowardsavalue-ledgrowthtrajectory.Consequently,thesectorwilllikelybeanchoredbyacalibratedsupplyinfusion,ensuringthatnewinventoryisstrictlyalignedwithdeliveryrealities.WhilemonetaryeasingbytheRBIandGST

rationalisationremainkeydemandcatalysts,

macroeconomicheadwindsmayprompta

segmentofhomebuyerstomaintainawatchfulstanceinthenearterm.

Contacts

RESEARCH

AbhinavJoshi

HeadofResearch,India,

MiddleEastandNorthAfricaabhinav.joshi@cbre.co.in

RajorshiSanyal

SeniorGeneralManager

rajorshi.sanyal@

MohamedAtifKhanDeputyGeneralManager

mohamedatif.khan@

VidhiDheri

Director,NationalOperationsvidhi.dheri@cbre.co.in

UttareshVenkateshwaranGeneralManager

uttaresh.ventakeshwaran@

AditiKashyapAssitantManager

aditi.kashyap@

SadiyaAlviSeniorAnalyst

sadiya.alvi@

BUSINESSLINESFOLLOWUS

VamshiNakirekanti

SeniorExecutiveDirector,Head–Valuation

andAdvisoryServices,India&SouthEastAsiavamshi.krishna@cbre.co.in

DivyaGoyal

ExecutiveDirector,

Head-InvestmentRiskMonitoring,Indiadivya.goyal@cbre.co.in

SumitArora

Head,NationalOperationsandWorkplaceStrategies,Consulting,India

sumit.arora@

SaurabhKhare

Head,NationalOperations,

Valuations&AdvisoryServices

saurabh.khare@

CBREResearch

ThisreportwaspreparedbytheCBREIndiaResearchTeam,whichformspartofCBREResearch—anetworkofpreeminentresearcherswhocollaboratetoproviderealestatemarketresearchandeconometricforecastingtorealestate.

Allmaterialspresentedinthisreport,unlessspecificallyindicatedotherwise,isundercopyrightandproprietarytoCBRE.Informationcontainedherein,includingprojections,hasbeenobtainedfrommaterialsandsourcesbelievedtobereliableatthedateofpublication.Whilewedonotdoubtitsaccuracy,wehavenotverifieditandmakenoguarantee,warrantyorrepresentationaboutit.Readersareresponsibleforindependentlyassessingtherelevance,accuracy,completenessandcurrencyoftheinformationofthispublication.ThisreportispresentedforinformationpurposesonlyexclusivelyforCBREclientsandprofessionals,andisnottobeusedorconsideredasanoferorthesolicitationofanofertosellorbuyorsubscribeforsecuritiesorotherfinancialinstruments.Allrightstothematerialarereservedandnoneofthematerial,noritscontent,noranycopyofit,maybealteredinanyway,transmittedto,copiedordistributedtoanyotherpartywithoutpriorexpresswrittenpermissionofCBRE.AnyunauthorizedpublicationorredistributionofCBREresearchreportsisprohibited.CBREwillnotbeliableforanyloss,damage,costorexpenseincurredorarisingbyreasonofanypersonusingorrelyingoninformationinthispublication.

TolearnmoreaboutCBREResearch,ortoaccessadditionalresearchreports,pleasevisittheGlobalResearchGatewayat

/research-and-reports

CIN-U74140DL1999PTC100244

ThisreportwaspreparedbytheCBREIndiaResearchTeam,whichformspartofCBREResearch—anetworkofpreeminentresearcherswhocollaboratetoproviderealestatemarketresearchandeconometricforecastingtorealestate.

Allmaterialspresentedinthisreport,unlessspecificallyindicatedotherwise,isundercopyrightandproprietarytoCBRE.Informationcontainedherein,includingprojections,hasbeenobtainedfrommaterialsandsourcesbelievedtobereliableatthedateofpublication.Whilewedonotdoubtitsaccuracy,wehavenotverifieditandmakenoguarantee,warrantyorrepresentationaboutit.Readersareresponsibleforindependentlyassessingtherelevance,accuracy,completenessandcurrencyoftheinformationofthispublication.ThisreportispresentedforinformationpurposesonlyexclusivelyforCBREclientsandprofessionals,andisnottobeusedorconsideredasanoferorthesolicitationofanofertosellorbuyorsubscribeforsecuritiesorotherfinancialinstruments.Allrightstothematerialarereservedandnoneofthematerial,noritscontent,noranycopyofit,maybealteredinanyway,transmittedto,copiedordistributedtoanyotherpartywithoutpriorexpresswrittenpermissionofCBRE.AnyunauthorizedpublicationorredistributionofCBREresearchreportsisprohibited.CBREwillnotbeliableforanyloss,damage,costorexpenseincurredorarisingbyreasonofanypersonusingorrelyingoninformationinthispublication.

T