Overview
- Sales across the top 15 tier-2 cities fell to 1,56,181 units in 2025 even as aggregate transaction value held steady at ₹1.48 lakh crore, indicating larger average ticket sizes.
- Homes priced below ₹1 crore saw a 15% decline and their share fell to 72%, while sales of ₹1 crore-plus homes rose 9% with share increasing to 28%.
- New launches contracted 6% year-on-year to 1,36,243 units, with supply down in both sub-₹1 crore and above-₹1 crore segments as developers turned cautious.
- Gujarat led activity with Ahmedabad, Surat, Vadodara and Gandhinagar accounting for about 63% of sales and 64% of launches; Ahmedabad alone sold 51,148 units and is recommended for tier‑1 status from 2026.
- City-level outcomes diverged as Visakhapatnam fell 38% and Bhubaneswar and Vadodara also dropped sharply, while Mohali grew 34% and Lucknow rose 6%.