Business
Housing Sales In Top 9 Indian Cities Slip 4% In Q3 2025, Launches Flat: Report
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New launches remain largely flat at 92,229 units, marginally below the one-lakh mark and down 10% on a sequential basis, according to real estate data analytics firm PropEquity.
Despite subdued launches, PropEquity expects housing demand to pick up in the festive quarter, driving stronger absorption and improved launch momentum.
Housing sales across India’s top nine cities declined by 4% year-on-year in the July–September quarter of 2025, settling just above the one-lakh mark at 1,00,370 units, according to a report by real estate data analytics firm PropEquity. This marked the 10th consecutive quarter of decline.
New launches remained largely flat at 92,229 units, marginally below the one-lakh mark and down 10% on a sequential basis.
The nine cities tracked in the report are Bengaluru, Chennai, Hyderabad, Mumbai, Navi Mumbai, Pune, Thane, Kolkata, and Delhi-NCR.
Maharashtra region weighs on sales
The annual drop in sales was largely led by Maharashtra markets — Mumbai, Navi Mumbai, Thane, and Pune — which recorded contractions ranging from 6% to 28%. Pune remained the largest market with 17,762 units sold but posted a 16% fall. Thane saw the sharpest fall at 28%.
Bengaluru, however, emerged as a bright spot, recording 16,840 units sold — a 21% jump YoY — making it the second-largest market. Chennai and Kolkata also saw strong growth of 16% and 25% respectively, while Delhi-NCR and Hyderabad reported modest 4% gains.
On a sequential basis, sales fell by 1%. Delhi-NCR witnessed the steepest quarterly fall of 24%, followed by Thane at 11%, while the other seven cities registered growth.
Samir Jasuja, founder and CEO of PropEquity, said, “The reason why we feel that the housing market remains healthy even though the new launches are coming down consecutively is because the sales continue to be higher than the new launches. We anticipate that 2025 will mirror 2024 with approximately 4 lakh unit launches and approximately 4.5 lakh sales, which is marginally lower than the 2024 numbers.”
| City | Q3 2024 | Q2 2025 | Q3 2025 | Q-o-Q | Y-o-Y |
|---|---|---|---|---|---|
| Bengaluru | 13,966 | 15,743 | 16,840 | 7% | 21% |
| Chennai | 4,675 | 5,292 | 5,406 | 2% | 16% |
| Hyderabad | 12,311 | 12,017 | 12,860 | 7% | 4% |
| Kolkata | 3,774 | 3,828 | 4,732 | 24% | 25% |
| Mumbai | 10,480 | 8,244 | 9,691 | 18% | -8% |
| Navi Mumbai | 7,650 | 7,114 | 7,212 | 1% | -6% |
| Pune | 21,066 | 17,808 | 17,762 | 0% | -16% |
| Thane | 20,620 | 16,644 | 14,877 | -11% | -28% |
| Delhi-NCR | 10,539 | 14,481 | 10,990 | -24% | 4% |
| Total | 1,05,081 | 1,01,171 | 1,00,370 | -1% | -4% |
New supply trends
On the supply side, new launches remained flat year-on-year but fell 10% sequentially. Bengaluru accounted for nearly one-fifth of new supply despite a 10% YoY decline. Chennai, Navi Mumbai, Pune, and Kolkata reported a rise in launches, while Bengaluru, Hyderabad, Mumbai, Thane, and Delhi-NCR recorded contractions.
Delhi-NCR saw the sharpest quarter-on-quarter fall at 31%, followed by Chennai (29%) and Pune (15%). Hyderabad, Kolkata, and Navi Mumbai bucked the trend with sequential growth.
Outlook
Despite subdued launches, PropEquity expects housing demand to pick up in the festive quarter, driving stronger absorption and improved launch momentum.
Vijay Harsh Jha, founder and CEO of property brokerage firm VS Realtors, said, “NCR continues to show strong sales momentum. Launches have come down significantly owing to the monsoon season as developers wait to launch projects during the festive quarter in anticipation of demand. The GST cut may drive sentiment-induced demand.”
Ramji Subramaniam, managing director of Sowparnika Projects, said, “The surge in Bengaluru’s housing sales reflects the deep confidence buyers have in the city’s real estate potential. Unlike other markets that have seen a dip, Bengaluru continues to stand out, especially as a global city, thanks to its salubrious climate, a cosmopolitan culture that welcomes people from across India and abroad, and strong demand from families seeking a better standard of living, quality education, and access to a leading higher education hub.”
Added to this are the city’s thriving IT and startup ecosystem, infrastructure development such as the Metro, demand for quality homes among young professionals and millennials with significant disposable incomes, and its reputation for offering one of the best work-life balances across all sections. For us as developers, this reaffirms the importance of continuous innovation, uncompromising quality, and delivering homes that meet the aspirations of today’s buyers, he added.
Vishesh Rawat, vice-president & head (marketing, sales & CRM) of M2K Group, said, “The fact that Delhi-NCR recorded a 4% uptick in sales signals that the demand in the NCR is still strong. Going into the festive quarter, we are experiencing positive buyer sentiment and pent-up demand to translate into improved absorption. Alongside, GST rationalisation will play its part in reducing cost pressures on developers, further boosting homebuyer confidence. We look forward to capturing this upswing, confident that the festive tailwinds will amplify the region’s growth momentum.”
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 22, 2025, 17:11 IST
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Business
Pakistan’s manufacturing sector slump: Private investment plunges 46%; experts warn of long-term industrial decay – The Times of India
Pakistan’s manufacturing industry, once considered a key driver of economic growth and employment, is undergoing one of its worst downturns in recent history. The sector has seen a steep 46 per cent fall in private investment over the past six years, raising fears of long-term stagnation among economists and industrial experts.According to The Express Tribune report cited by news agency ANI, private investment in manufacturing dropped from PKR 706 billion in FY2018–19 to just PKR 377 billion in FY2024–25, marking the weakest phase of industrial growth in more than a decade. Ali Imran Asif, Senior Executive Committee Member of the Lahore Chamber of Commerce and Industry (LCCI), warned that the current level of investment was “not enough to even replace depreciating machinery,” suggesting a deep erosion of Pakistan’s industrial foundation.“We are not dealing with a short-term dip; we are watching our industrial base disintegrate,” Asif said, as per The Express Tribune. He stressed that without structural reforms focused on productivity, innovation, and competitiveness, the country could face prolonged industrial paralysis.The combined contribution of the manufacturing and mining sectors to Pakistan’s GDP has remained stagnant at around 13.2 per cent over the past six years. Frequent policy changes, high energy costs, and volatile currency movements have severely affected export-oriented sectors such as textiles, leather, and engineering goods. Large-scale manufacturing output fell 1.5 per cent in FY25, reversing the 0.92 per cent growth recorded in FY24.In contrast, neighbouring economies like India and Bangladesh have maintained strong industrial growth supported by stable policies and export diversification. Economist Shahid Saleem noted that Pakistan’s slump is not merely the result of high interest rates but also reflects policy inconsistency and eroding investor confidence. Import restrictions and weak domestic demand have forced many factories to run below capacity, he added.Experts, as cited by ANI, warned that unless Pakistan swiftly formulates a credible industrial revival plan and ensures policy stability, the manufacturing sector’s decline will deepen further, undermining exports, employment and broader economic resilience.
Getty ImagesMore than 1,400 flights to, from, or within the US were cancelled on Saturday after airlines were told this week to cut traffic during the federal government shutdown.
Nearly 6,000 flights were also delayed, down from over 7,000 delays on Friday, according to flight tracker FlightAware.
The Federal Aviation Administration (FAA) announced earlier in the week that it would be reducing air travel capacity by up to10% at 40 of the nation’s busiest airports as air traffic controllers, who are working without pay during the shutdown, report fatigue.
Republicans and Democrats remain divided over how to end the impasse in Congress as the shutdown, which began 1 October, continues.
Saturday marked the 39th day of the longest shutdown in history as Republicans and Democrats still have not agreed on a funding resolution to reopen the government.
Senators are in Washington over the weekend for bipartisan negotitations aimed at ending the shutdown, which is beginning to be felt by more and more Americans amid cuts to food aid payments and the flight disruptions.
In a statement on Saturday, American Airlines urged “leaders in Washington, D.C., to reach an immediate resolution to end the shutdown”.
New Jersey’s Newark Liberty International Airport was experiencing some of the longest wait times. As of Saturday afternoon, arrivals to the airport were delayed by an average of more than four hours, while departures from the airport were delayed by an average of 1.5 hours, according to the FAA.
The airports with the most cancelled flights on Saturday, both to and from the location, were Charlotte/Douglas International, Newark Liberty International, and Chicago O’Hare International, according to FlightAware.
Departures to John F Kennedy International, Hartsfield-Jackson Atlanta International, and La Guardia were delayed by nearly three hours, over 2.5 hours, and about an hour, respectively, the FAA reported as of Saturday afternoon.
With the Thanksgiving holiday approaching on 27 November, it’s one of the busiest travel seasons of the year in the US.
It’s not just commercial flights that have been affected. Restrictions on private jets are also in place, Secretary Duffy said in a Saturday post on X.
“We’ve reduced their volume at high traffic airports — instead having private jets utilize smaller airports or airfields so busy controllers can focus on commercial aviation,” Duffy wrote. “That’s only fair.”
And things will likely get worse in the coming days as the FAA increases the percentage of cancelled flights.
On Thursday, the agency announced that the flight reductions would be gradual, starting at 4% of flights on Friday before rising to 6% by 11 November, 8% by 13 November, and the full 10% by 14 November.
The FAA said the cuts were necessary to maintain safety as air traffic controllers have been overworked during the shutdown.
As essential workers, the controllers are required to continue working without pay, and as a result, many have called out sick or taken on second jobs to afford necessities, unions say.
The controllers are just some of the 1.4 million federal workers who have either been working without pay or been put on forced during the shutdown.
Another factor impacting air travel is that most of the Transportation Security Agency (TSA) 64,000 agents are also not being paid while the shutdown is in place.
During the previous government shutdown, under US President Donald Trump in 2018, it was found that up to 10% of TSA staff chose to stay at home rather than work for free.
Business
Bonus, Dividend & Split: Power Grid, Godfrey, Garden Reach Among 40 Shares In Focus This Week
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Over 40 companies, including Bayer CropScience, Nuvama Wealth Management, and Power Grid Corporation, will see dividends, bonus issues, or stock splits.
Power Grid Corporation, Astral Ltd, Garden Reach Shipbuilders among 40 shares to trade ex-date this week.
Bonus, Dividend & Stock Split: Shares of several listed companies will remain in focus among investors this week for various corporate actions, including dividend, bonus and stock split. Between November 10 and November 15, 2025, more than 40 firms will trade ex-dividend and ex-date for bonus or stock split.
Among the big names, Bayer CropScience will distribute an interim dividend of Rs 90 per share, the highest in this round. Nuvama Wealth Management follows with Rs 70 per share, while Ajanta Pharma, Godfrey Phillips India, and Great Eastern Shipping will reward shareholders with Rs 28, Rs 17, and Rs 7.2 per share respectively.
Blue-chip firms like Power Grid Corporation, Astral Ltd, Garden Reach Shipbuilders, and Chambal Fertilisers have also declared interim dividends in the range of Rs 4.5–5.75 per share.
Other notable payers include Sasken Technologies (Rs 12), Garware Technical Fibres (Rs 8), Kaveri Seed Company (Rs 5), and D-Link India (Rs 6).
Infrastructure investment trusts (InvITs) such as PowerGrid InvIT, Indus Infra Trust, and Anzen India Energy Yield Plus Trust have also announced income distributions during the period.
Bonus And Stock Split Rush
Investors can also look forward to corporate actions like bonus issues and stock splits this week. Sampre Nutritions Ltd have announced a stock split from Rs 10 to Rs 5 face value and a 1:1 bonus issue. SMC Global Securities has also declared a 1:1 bonus issue, while Websol Energy System goes for a stock split from Rs 10 to Rs 1.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 09, 2025, 09:09 IST
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PPP sought lifetime immunity for president, abolition of NAB in 27th Amendment
Pakistan’s manufacturing sector slump: Private investment plunges 46%; experts warn of long-term industrial decay – The Times of India
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