NCR Housing Sales Fall 11% to 35,574 Units in Jan-Sep 2026

 

By The Realty Times | Real Estate News Services

New Delhi: Housing sales in the National Capital Region (NCR) declined 11% year-on-year to 35,574 units during January-September 2026, according to a report by Knight Frank India. The slowdown was largely concentrated in Gurugram and the ₹5-10 crore housing segment, while demand in several other parts of the NCR remained relatively resilient.

The NCR residential market recorded 10,712 housing sales in Q3 2026, making it the lowest quarterly sales level since 2021. However, the decline does not indicate a broad-based weakening of housing demand, with the report pointing instead to a significant recalibration of supply towards higher price categories.

Gurugram accounted for a major portion of the decline in NCR housing sales during the first nine months of the year. The city also held around 57% of the region's unsold housing inventory.

In contrast, housing sales across the NCR excluding Gurugram increased 3% year-on-year during the January-September period, indicating that demand remains comparatively healthy in other markets.

One of the most significant trends in the NCR market is the movement of developers towards higher-ticket housing.

New launches priced below ₹2 crore have declined by around two-thirds since 2023, while launches priced above ₹2 crore have increased by 54%. This shift has substantially changed the composition of the NCR housing market.

The ₹2-5 crore segment emerged as the largest housing category in NCR in terms of both sales and new launches. Sales in this segment increased 8% year-on-year to 15,333 units, while launches rose 15% to 17,273 units during January-September 2026.

The lower-priced segment continued to face significant pressure. Sales of homes priced below ₹1 crore declined 29% year-on-year to 5,386 units, while new launches in this category fell by an even sharper 47% to 1,905 units.

The ₹1-2 crore segment remained comparatively stable, recording sales of 9,120 units against launches of 8,477 units during the nine-month period.

Despite the decline in sales volumes, residential prices continued to increase across major NCR markets.

Weighted average prices rose 17% in Delhi, 14% in Ghaziabad, 11% in Greater Noida, 7% in Noida, 7% in Faridabad and 4% in Gurugram on a year-on-year basis.

The latest figures suggest that the NCR housing market is undergoing a shift in supply and buyer preferences rather than experiencing a broad-based demand contraction. The continued strength of the ₹2-5 crore segment, rising property prices and lower inventory outside Gurugram point towards a market increasingly dominated by premium housing.

For developers, the data highlights the importance of matching new supply with actual demand across different price brackets. For homebuyers, the changing supply mix could mean fewer choices in the sub-₹2 crore segment, particularly in established NCR markets.