India's residential real estate market demonstrated resilience in the first half of 2026, even as overall housing sales remained relatively stable. Data from Trade Brains indicates that homebuyers purchased 1,71,471 homes across eight major cities, a modest 1% increase compared to the same period last year.
Despite this marginal growth in sales, property prices climbed across all 15 cities tracked in the report. Notably, two North Indian cities, Faridabad and Delhi, recorded the highest annual price appreciation.
Top Performers: Delhi and Faridabad Lead the Surge
Faridabad recorded an impressive 18% annual increase in property prices, positioning it as one of India's fastest-growing residential markets. Prices also saw a substantial 14% rise within just the first six months of 2026.
Delhi mirrored Faridabad's performance with an 18% annual price growth. The capital city experienced the sharpest six-month increase among the covered markets, with prices rising 16%. The average property price in Delhi stood at approximately ₹26,027 per square meter.
Other Key Cities See Significant Gains
The National Capital Region (NCR) continued to show strong appreciation, with Ghaziabad witnessing a 15% annual rise in property prices, and a 13% increase over the preceding six months.
Other major cities also contributed to the upward trend in Indian property prices:
- Bengaluru: 9% annual growth, supported by the technology sector, with sales up 5%.
- Noida: 8% annual increase, strong sales in premium housing.
- Hyderabad: 7% annual growth, despite cautious sales.
- Gurugram: 6% annual rise, average price ₹18,354 per sq meter.
- Greater Noida: 6% annual growth.
- Chennai: 5% annual growth, strong inventory-clearance rates.
- Mumbai: 5% annual growth, average price ₹36,881 per sq meter, largest market by sales volume (47,355 homes).
- Pune: 5% annual rise, notable 17% increase in new housing launches.
- Kolkata: 5% annual growth, average price ₹5,942 per sq meter.
- Thane: 4% annual rise, average price ₹14,948 per sq meter, more affordable within Mumbai region.
- Ahmedabad: 3% annual growth, average price ₹4,826 per sq meter.
- Navi Mumbai: 3% annual growth, the lowest among the 15 cities.
Factors Driving Price Increases
The sustained increase in property prices, even with moderate sales growth, can be attributed to several factors:
- Rise in Expensive Homes: Homes priced above ₹1 crore accounted for 54% of total sales in H1 2026, up from 49% a year earlier, indicating a shift towards higher-value properties.
- Developer Strategies: Developers have largely avoided cutting headline property prices. Instead, they have offered incentives such as flexible payment plans, stamp-duty waivers, and subvention schemes to attract buyers, maintaining price points.