West Asia conflict caps home prices in top 7 cities in Jan-March: Anarock

New Delhi: India’s top seven housing markets saw a muted 2 per cent growth in average prices during January-March against the previous quarter as sales fell amid negative consumer sentiments because of the West Asia conflict, according to Anarock.

Real estate consultant Anarock data showed that the average housing prices across seven major cities rose to Rs 9,456 per square feet in January-March from Rs 9,260 per square feet in the preceding quarter.

On an annual basis, the prices rose 7 per cent from Rs 8,868 per square feet in January-March 2025.

Anarock tracks primary (first sale) housing markets of seven cities — Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata.

Anarock pointed out that housing sales across these seven cities fell 7 per cent in volume terms and 6 per cent value-wise during January-March 2026 from the previous quarter. This kept prices under check to a large extent.

As per the data, the average housing price in Delhi-NCR appreciated 3 per cent in January-March to Rs 9,620 per square feet from Rs 9,300 per square feet in the preceding quarter. Rates rose 15 per cent from Rs 8,330 per square feet in the same period last year.

In MMR, the rates grew 1 per cent to Rs 17,600 during January-March 2026 from Rs 17,350 per square feet in the preceding quarter. On an annual basis, the prices went up 4 per cent from Rs 16,900 per square feet in January-March 2025.

The average prices in Bengaluru rose 2 per cent to Rs 9,310 in January-March 2026 from Rs 9,100 per square feet in the preceding quarter. The city saw an 8 per cent annual appreciation from Rs 8,650 per square feet in the January-March 2025.

In Pune, the prices of residential properties rose 2 per cent to Rs 8,220 in January-March this year, from Rs 8,050 per square feet in the preceding quarter.

A 5 per cent increase was recorded from Rs 7,800 per square feet in the January-March period last year.

Hyderabad saw a 2 per cent price appreciation to Rs 7,990 per square feet in January-March quarter this year, from Rs 7,830 per square feet in the preceding quarter. The rates grew 6 per cent annually from Rs 7,550 per square feet in January-March 2025.

In Chennai, the average housing prices grew just 1 per cent to Rs 7,165 per square feet during January-March this year from Rs 7,100 a square feet in the preceding quarter. The rates increased 4 per cent annually from Rs 6,900 per square feet in the January-March period last year.

The average housing prices in Kolkata went up 3 per cent in January-March 2026 to Rs 6,290 from Rs 6,120 per square feet in the preceding quarter. The rates grew 6 per cent annually from Rs 5,950 per square feet in January-March last year.

Anarock Chairman Anuj Puri noted that the “short-term tremors of the Iran War were clearly visible in the first quarter.” He pointed out that the war-induced uncertainty has affected buying sentiments, particularly in March.

“The decline in sales also aligns with large numbers of prospective Middle East homebuyers, who invest significantly in Indian real estate, hitting the pause button under the war cloud,” Puri said. He, however, noted that the long-term outlook for India’s housing market remains positive. PTI