New Delhi [India], April 15 : Mumbai, Bengaluru, and Pune emerged as the primary engines of India's residential real estate market in the first quarter of 2026, collectively accounting for approximately 60 per cent of all new unit launches.
According to the Residential MarketBeat Report by Cushman & Wakefield, the top eight cities in India recorded a total of 75,283 new residential units during the quarter. This figure represents a 2 per cent increase from the previous quarter and a marginal 1 per cent growth compared to the same period last year, indicating a measured yet active supply environment across the country.
Mumbai led the national activity with 19,775 units, marking a 25 per cent quarterly growth and reaching a 14-quarter high. Bengaluru followed with 12,664 units, while Pune contributed 11,371 units. The report noted that the concentration of activity in these three cities reflects their significant scale and depth. Beyond these hubs, performance varied significantly.
Ahmedabad recorded 6,745 units, a 30 per cent jump from the previous quarter, while Kolkata saw the sharpest quarterly growth at 48 per cent with 2,222 units launched. Conversely, Delhi NCR and Hyderabad saw moderations in supply, with NCR recording 9,677 units and Hyderabad seeing 9,126 units.
"The concentration of nearly 60% of new launches across Mumbai, Bengaluru and Pune highlights the sustained scale of development activity in these markets," Shalin Raina, Managing Director, Residential Services at Cushman & Wakefield, said. "This momentum is being driven largely by phased project additions, township developments and focused submarket contributions."
Across different categories, the mid-segment remained the primary volume driver, making up 46 per cent of the new supply. High-end and luxury categories together accounted for 41 per cent of the market, supported by demand for larger homes among high-net-worth individuals.
Notably, the affordable segment rose to a 14 per cent share, its highest level in ten quarters, driven by activity in deeper suburban markets. Weighted average launch prices across the top eight cities rose by 9 per cent on a quarterly basis and 16 per cent annually. However, the pace of price growth was slower than the 12.5 per cent increase recorded in the previous quarter.
"At a broader level, the market is transitioning into a more measured phase, with buyer and investor behaviour becoming increasingly selective amid steadier price movements and a more complex external environment," Raina said. "The mid-segment, which accounts for nearly half of new supply, is expected to continue anchoring volumes, while high-end and luxury housing, representing over 40 per cent of launches, should retain momentum, albeit with more calibrated price appreciation."
Infrastructure improvements continued to push new launches toward peripheral corridors and emerging residential zones. In Mumbai, redevelopment activity in the Western Suburbs supported supply, while Bengaluru's momentum was led by residential township projects in the eastern corridor, including Whitefield and Hoskote.
Pune's residential launches remained concentrated along the NH4 Bypass (North) submarket, which benefited from proximity to the Hinjewadi IT hub and the availability of large land parcels.
"Portfolio diversification is also gaining traction, with growing investor interest in plotted developments within gated communities," Raina said. "At the same time, global uncertainties, are beginning to exert pressure on construction inputs and could influence project costs, pricing and launch timelines, particularly in price-sensitive segments."
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