Housing prices across India rose 6% year-on-year in the first quarter of fiscal year 2027, according to a Kotak report. The increase was spearheaded by key markets, with New Delhi, Noida, Chennai, Greater Noida, and Bengaluru leading the trend — a spread that spans major urban centres across both northern and southern India.

The broader market picture was more mixed. Residential sales recorded a moderate 3% uptick over the same period, while the launch of new projects declined and unsold inventories increased in markets such as Bengaluru, Hyderabad, and the National Capital Region (NCR) — a conurbation that includes New Delhi, Noida, and Greater Noida.

Taken together, the figures illustrate a complex market dynamic: home prices continued to firm in several of the country's largest cities even as fresh supply slowed and unsold stock built up in some major markets. Price movement, sales volume, new launches, and unsold inventory are the core indicators brokerages track to gauge the balance between demand and supply in India's residential sector, which — together with allied industries such as cement and steel — ranks among the economy's largest employment generators. The simultaneous firming of prices in some cities and buildup of unsold stock in others is a key reason analysts read these metrics together rather than in isolation, and subsequent quarterly updates on launches and inventory levels will serve as the reference point for how the picture develops.

For context, India's fiscal year runs from April through March, meaning the first quarter of FY27 covers April to June 2026. The findings are attributed to Kotak, whose institutional equities research arm is tagged by the Economic Times as the source of the data on housing prices, residential sales, new launches, and unsold inventory levels tracked across major Indian cities.