Mumbai: India’s residential property market is showing a growing preference for locations where infrastructure, connectivity and affordability converge, even as overall housing demand moderates. According to the Magicbricks PropIndex Report for April to June 2026, residential demand across India declined 1.2% quarter-on-quarter (QoQ). Yet, markets such as Kolkata, Noida, Greater Noida and Pune continued to see stronger buyer interest, pointing to a more selective approach to home buying.
Of the 13 cities covered in the report, Kolkata posted the highest growth in residential demand, rising 7.5% QoQ. Noida followed with a 5.5% increase, while Greater Noida and Pune recorded growth of 4.1% and 2.1%, respectively.
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The trend was notably different across several established metropolitan markets. Demand fell 6% in Hyderabad, 5.8% in Chennai, 2.9% in New Delhi and 1.8% in Bengaluru. Mumbai, meanwhile, remained largely stable, with demand increasing 0.6% QoQ.
The contrasting performance suggests that homebuyers are becoming more discerning about where they invest, with affordability, connectivity, housing options and the potential for long-term value increasingly influencing residential decisions.
Supply trends, too, reflected the divergence between markets. National residential supply rose 1.2% QoQ during the April-June 2026 period. Bengaluru led the increase with 3.7% growth, followed by Gurugram at 3.1%, Hyderabad at 2.9% and Kolkata at 1.7%.
At the same time, supply additions remained comparatively limited in Noida and Pune, where inventory declined 0.6% and 0.9%, respectively. Both markets, however, recorded some of the strongest demand growth in the country during the quarter. The combination of rising buyer interest and restrained supply additions points to healthy inventory absorption and improving underlying market conditions.
Housing prices remained resilient despite the moderation in demand. Residential prices across India increased 1% QoQ, while Greater Noida emerged as the fastest-appreciating major residential market, registering 1.9% QoQ price growth. The performance highlights the growing role of infrastructure-led development in shaping residential demand and supporting capital appreciation.
Kolkata also recorded a 1% QoQ increase in residential prices. Noida and Pune, meanwhile, maintained stable pricing even as buyer demand strengthened, reinforcing their relative affordability appeal.
In other major markets, prices continued to rise despite weaker demand. Hyderabad recorded 2.4% QoQ price growth, followed by Bengaluru at 1.9% and Gurugram at 1.8%. The continued appreciation in these markets indicates that developers remain confident about their long-term residential prospects.
Prasun Kumar, CMO, Magicbricks, said, “India’s residential market is becoming increasingly selective rather than cyclical. Homebuyers today are choosing infrastructure ecosystems as much as cities. Markets with stronger connectivity, employment opportunities and affordable housing are attracting greater buyer interest, even as overall market activity moderates. Greater Noida exemplifies this shift. With the upcoming Noida International Airport and expanding expressway network, the region is evolving into a self-sustaining economic corridor rather than just an extension of Delhi NCR. As this trend strengthens, residential growth will become increasingly concentrated in markets where infrastructure translates into everyday livability and long-term economic opportunity.”
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The Magicbricks PropIndex Report also highlighted a clear preference for mid-sized homes among buyers. 2 BHK properties accounted for 42% of residential demand, while 3 BHK homes represented 37%. Together, the two configurations made up close to 79% of total buyer interest.
On the supply side, however, developers continued to focus on larger homes. 3 BHK units constituted 46% of the available residential inventory, indicating a gap between the configuration most preferred by buyers and the type of housing being prioritised in new supply.
