The Mumbai Metropolitan Region (MMR) has emerged as India’s largest housing market by the value of new homes sold during the first half of 2026, overtaking Delhi-NCR in terms of primary residential sales value.
According to the India Housing Report, September 2026, prepared by CRE Matrix and NAR-India, MMR recorded primary housing sales worth approximately Rs 93,800 crore between January and June. This represented around 26% of the total sales value across tier-1 cities. Delhi-NCR, meanwhile, recorded sales worth Rs 68,217 crore, accounting for about 19% of the tier-1 market.
MMR sold nearly 83,600 homes during the period, marking a 9% increase in volume, while sales value grew 8%. Its average ticket size remained largely stable at around Rs 1.12 crore, indicating that the region’s growth was driven primarily by higher transaction volumes rather than a significant shift towards luxury housing.
Delhi-NCR recorded around 24,600 housing sales, down approximately 9% year-on-year. Its sales value declined 24%, while the average ticket size fell from Rs 3.31 crore to Rs 2.77 crore.
The change was particularly pronounced in Gurugram, which contributed Rs 37,726 crore to NCR’s sales value. Its average ticket declined from Rs 4.65 crore to Rs 3.15 crore, while homes priced above Rs 5 crore accounted for a smaller share of sales value than a year earlier.
Other major markets also recorded notable movements. Bengaluru’s housing sales value increased 25% to Rs 60,875 crore, with approximately 34,600 units sold. Hyderabad recorded Rs 52,913 crore in sales, although its unit volumes declined 13%.
Across India’s tier-1 cities, primary housing sales remained broadly stable at around Rs 3.63 lakh crore. However, unit sales fell 2%, even as new launches increased 7%.
The data indicates that the MMR-NCR shift in sales value was influenced significantly by differences in average transaction values and the composition of homes sold. MMR’s position was supported by sustained volumes, while NCR’s decline was closely linked to the moderation of its luxury housing segment.
Source: Realty Hunting
