Housing demand fell year-on-year by 8% in Gurgaon and 9% in Noida during the third quarter of 2026, while demand across six major metropolitan markets rose 7%, according to a NoBroker report cited by The Economic Times.
Bengaluru moved in the opposite direction, recording 14% growth in demand and a 14.5% increase in average residential prices to ₹11,293 per sq ft. The figures, reported on 21 October, illustrate a widening gap between city-level housing markets rather than a single national trend.
These percentages come from a property-platform study and should be read according to its methodology. “Demand” in such a report may reflect platform activity or another defined indicator rather than completed registered home sales. The publicly accessible ET report did not reproduce a full methodology, so BrickBharat does not treat the measure as an official transaction count.
NCR demand weakens as launch activity shifts
Across Delhi-NCR, residential launches fell 23% year-on-year to 7,177 units, the report said. Ghaziabad, Noida and Faridabad together accounted for 77% of those launches, while Faridabad was the only NCR market in the study to record demand growth.
ET attributed Gurgaon’s slowdown partly to high entry prices and a concentration of premium, large-format launches that have reduced affordability for many buyers. NCR’s reported average residential price nevertheless rose 10.6% year-on-year to ₹12,311 per sq ft.
Falling demand alongside higher average prices is not necessarily contradictory. The mix of homes available, fewer affordable launches and activity concentrated in premium projects can lift an average price even as fewer buyers participate. An aggregate city figure also does not establish the price of a comparable unit in every locality.
Cushman & Wakefield’s separate Q3 overview reported 8,728 residential launches across Delhi-NCR and identified Gurgaon-led peripheral corridors as important supply locations. Its total differs from NoBroker’s 7,177-unit figure, likely because of differences in geography, source coverage or methodology. The numbers should not be merged or presented as interchangeable.
Bengaluru combines demand growth with tighter new supply
Bengaluru recorded the strongest demand growth and price appreciation among the six tracked metros even though launches declined 12% to 15,180 units, according to ET’s account of the report. Technology and global capability centre hiring were cited as supportive factors.
For homebuyers, the combination of stronger demand, rising prices and lower new supply can increase pressure in established employment corridors. It does not, however, prove that every Bengaluru project will sell quickly or appreciate at the city average. Construction progress, title, approved plans, micro-market supply and the developer’s execution record remain project-specific.
NoBroker’s separate 2026 buyer report says many purchasers across major cities feel priced out of their preferred segments. That broader affordability pressure provides context for the Gurgaon and Noida declines, but it does not demonstrate that the same households were included in the quarterly demand measurement.
Pune and MMR add substantially more homes
The report also recorded sharp increases in launches in Pune and the Mumbai Metropolitan Region. Pune supply rose to 16,192 units across 237 projects, up 643% from a low Q3 2025 base of 2,180 units. MMR recorded 20,762 new units across 212 projects, a 198% annual increase and broadly similar to its Q3 2024 level.
The low-base effect is essential context: very large percentage increases do not necessarily mean the current quarter is unprecedented. Additional launches can broaden buyer choice, but their impact on prices depends on product positioning, completion schedules and actual absorption.
What buyers and investors should take from the report
For buyers in Gurgaon and Noida, weaker headline demand may create more room to compare completed inventory and negotiate, but the report does not establish project-level discounts. Buyers should compare carpet area, total acquisition cost, construction status and financing—not only quoted price per sq ft.
For Bengaluru buyers, city-wide momentum is not a reason to skip due diligence or accept artificial urgency. For investors, the contrast across cities reinforces that employment, affordability, supply and micro-market access matter more than a general “Indian housing boom” narrative.
The Q3 evidence is therefore directional: Bengaluru led the tracked markets, NCR cooled, and new supply accelerated in Pune and MMR. Confirmed registrations, developer collections and project-level inventory remain necessary before drawing stronger conclusions.
Sources
- The Economic Times — “Gurgaon, Noida housing demand drops 8–9% as NCR property market cools”, updated 21 October 2026 at 12:48 PM IST.
- NoBroker Buy/Sell Report portal, official report page accessed 22 October 2026; used for broader 2026 affordability context.
- Cushman & Wakefield — Delhi-NCR MarketBeat, Q3 2026 market overview accessed 22 October 2026; used as a separate supply benchmark.
Verification limitation: The underlying Q3 NoBroker report file and its complete methodology were not independently retrieved. Quarterly figures are attributed to the report as reproduced by ET; the separate Cushman & Wakefield dataset is not directly comparable.