Mumbai: India’s residential market is entering a new phase where infrastructure, affordability and connectivity—not simply metro status—are determining where residential demand is growing. According to Magicbricks PropIndex Report between April and June 2026, the residential demand dropped 1.2% quarter-on-quarter (QoQ). However, Kolkata, Noida, Greater Noida and Pune continued to attract stronger homebuyer interest, signalling an increasingly selective housing market.

Among 13 cities mentioned in the report, Kolkata recorded the strongest demand growth at 7.5% QoQ, followed by Noida (5.5%), Greater Noida (4.1%) and Pune (2.1%). In contrast, demand moderated across several established metropolitan markets, including Hyderabad (-6%), Chennai (-5.8%), New Delhi (-2.9%) and Bengaluru (-1.8%), while Mumbai (+0.6%) remained broadly stable. The trend indicates that homebuyers are increasingly gravitating towards markets offering a stronger balance of affordability, connectivity, housing choice and long-term value.

The supply side also reflected this emerging divide. National residential supply increased by 1.2% QoQ, led by Bengaluru (+3.7%), Gurugram (+3.1%), Hyderabad (+2.9%) and Kolkata (+1.7%). However, Noida (-0.6%) and Pune (-0.9%) witnessed comparatively lower supply additions despite recording some of the country’s strongest demand growth, suggesting healthy inventory absorption and improving market fundamentals.

Residential prices remained resilient across India, rising 1% QoQ nationally. Greater Noida emerged as India’s fastest-appreciating major residential market, recording 1.9% QoQ price growth, highlighting how infrastructure investments are translating into stronger residential demand and capital appreciation. Kolkata recorded a healthy 1% QoQ increase, while Noida and Pune maintained stable pricing despite rising buyer demand, reinforcing their affordability advantage. Meanwhile, Hyderabad (+2.4%), Bengaluru (+1.9%) and Gurugram (+1.8%) continued to witness price appreciation even as demand softened, reflecting sustained long-term developer confidence in these markets.

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 affordablehousing 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.”

Further, the report also highlighted, 2 BHK homes accounted for 42% of demand, followed by 3 BHK homes at 37%, together making up close to 79% of buyer interest. On the supply side, developers continued to prioritise larger homes, with 3 BHK units accounting for 46% of available inventory.