India Housing Demand Rises 8.2% In Q3 2026 Ahead Of Festive Season; Mumbai, Chennai See Strong Price Gains: Report

India's residential property market witnessed an 8.2 percent surge in buyer sentiment during the third quarter of 2026, as the festive season approached, according to Magicbricks' PropIndex report. Mumbai and Chennai emerged as the top-performing cities in terms of price gains, followed by Ahmedabad and Bengaluru. Greater Noida and Gurugram, on the other hand, saw minimal changes in prices. The report stated that Bengaluru, Ahmedabad, Navi Mumbai, Thane, and New Delhi experienced the strongest recovery in housing prices.

Mid-sized homes, specifically those ranging between 750-1,250 square feet and 1,250-2,000 square feet, accounted for more than two-thirds of the demand. Two-bedroom and three-bedroom apartments continued to be the most sought-after configurations. Despite a 1.9 percent growth in supply across the nation, it lagged behind the persistent demand for housing. Demand outpaced supply in 10 out of the 13 analyzed cities, leaving Bengaluru as the only large city with stable new listings matching the demand levels.

Mohit Agarwal, Business Head at Conscient Infrastructure Pvt. Ltd., stated that the festive season always brings positive buyer sentiment and a strong desire for new beginnings. Rohit Kishore, CEO of Hero Realty, added that auspicious days have historically been associated with strong sales graphs, and this festive season is expected to see homebuyers making future-ready investments that align with their lifestyle aspirations and long-term legacy.

Saurabh Paliwal, Senior Vice President of Sales at BPTP Limited, mentioned that festivals like Navratri symbolize auspicious beginnings, making them a meaningful time for families to progress towards homeownership.