New Delhi, March 27 Housing sales in the Delhi-NCR region declined 17 per cent quarter-on-quarter to nearly 16,000 units in the January-March period, amid negative sentiment due to the conflict in West Asia, according to Anarock.
However, demand rose 44 per cent on an annual basis due to the low base effect.
Real estate consultant Anarock data showed that housing sales in the Delhi-NCR region stood at 15,985 units during the current January-March period, down 17 per cent from 19,250 units in the previous quarter.
Sales in the Delhi-NCR region increased 44 per cent from 11,120 units in the January-March period of the previous year.
Anarock Chairman Anuj Puri noted that the long-term fundamentals of India's residential segment remain strong, but the "short-term impact of the Iran War was clearly visible in the first quarter".
He pointed out that the uncertainty caused by the war has affected buying sentiment, particularly in March, resulting in a 7 per cent decline in sales across seven major cities during the January-March period of this year compared to the previous quarter.
"The decline also reflects the significant number of prospective homebuyers in the Middle East, who invest heavily in Indian real estate, which has been put on hold due to the war," Puri said.
Commenting on the demand scenario in the Delhi-NCR market, Rishi Raj, CEO of Conscient Infrastructure, said, "The NCR market continues to demonstrate resilient demand, though growth is clearly becoming more concentrated, with momentum increasingly focused on select micro-markets and product categories".
Homebuyers are becoming increasingly discerning and are gravitating towards developments that seamlessly combine location, quality, and experience, backed by credible institutions with strong balance sheets, he added.
Ashish Jerath, President - Sales & Marketing at Smartworld Developers, said that the Noida and Greater Noida housing markets have great potential for growth, with the international airport becoming operational.
He noted that the NCR property market is likely to gradually move away from speculative activities.
According to Anarock data, housing sales rose 9 per cent annually in January-March across the top seven cities, but declined 7 per cent from the previous quarter amid global economic uncertainties due to the conflict in West Asia.
Sales increased to 1,01,675 units during the current quarter from 93,280 units in the year-ago period.
Sales in terms of value grew 6 per cent to Rs 1.51 lakh crore during the January-March period from Rs 1.42 lakh crore in the corresponding period of the preceding year.
However, Anarock pointed out that housing sales fell 7 per cent in volume terms and 6 per cent value-wise from the previous quarter.
In the fourth quarter of the 2025 calendar year, as many as 1,08,970 units were sold for Rs 1.60 lakh crore.
The seven major cities are the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata.
On a quarterly basis, all seven cities have witnessed a decline in sales.
However, on an annual basis, only Pune has seen a demand slowdown.
Mumbai-based Anarock is one of the leading housing brokerage firms in the country. It also provides consultancy services for leasing of commercial (office, retail, and warehousing) real estate spaces, land acquisition, and fundraising.