# MMR overtakes NCR as India’s largest housing market with 26% share

2026-09-26T14:07:48+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 3 independent outlets

Mumbai Metropolitan Region (MMR) has overtaken the National Capital Region (NCR) as India's largest housing market, capturing 26% of Tier-1 city sales value in the first half of 2026, according to the NAR-CRE Matrix India Housing Report. MMR's primary sales rose 8% year-on-year to Rs 93,800 crore, while NCR saw a 24% decline to Rs 68,217 crore. Overall, Tier-1 housing sales stayed flat at roughly Rs 3.63 lakh crore compared to the same period last year, though volumes dipped 2% to 2.58 lakh units. Separately, PropEquity data shows residential sales across nine major cities fell 6% in the July-September quarter to 1.03 lakh units, with new supply also dropping to 98,165 units. Developers from South and West India are expanding into NCR, including new projects from Puravankara and Lodha, betting on long-term demand and infrastructure growth in the region. Festive season buying in the October-December quarter is expected to lift sales.

## Indian Opinion Analysis

Business Today's data-rich report centres on MMR overtaking NCR in market share, attributing NCR's decline to a luxury correction in Gurugram. Times of India highlights a broader 6% sales dip across cities, framing it as seasonal and demand-driven without comparing MMR and NCR directly. Economic Times shifts focus to South and West builders expanding into NCR, portraying it as a growth opportunity rather than a downturn. Together, the coverage shows divergent lenses: one outlet sees a market leader shift, another a seasonal slowdown, and the third a developer opportunity. The NAR-CRE Matrix data offers a neutral baseline for readers tracking actual volume absorption and end-user demand through the festive quarter.

## Coverage

- businesstoday.in (neutral report) <https://www.businesstoday.in/real-estate/story/mmr-overtakes-ncr-as-indias-biggest-housing-market-mumbai-region-takes-26-share-558022-2026-09-26?utm_source=rssfeed>
  Led with MMR overtaking NCR, framed as a market shift with data tables
- timesofindia.indiatimes.com (neutral report) <https://timesofindia.indiatimes.com/real-estate/news/housing-sales-slipped-6-in-top-indian-cities-during-jul-sep-quarter-report/articleshow/134505042.cms>
  Framed as a seasonal 6% decline across cities, no reference to MMR-NCR shift
- economictimes.indiatimes.com (neutral report) <https://economictimes.indiatimes.com/industry/services/property-/-cstruction/after-home-run-south-and-west-developers-tap-ncr-to-drive-growth/articleshow/134530759.cms>
  Framed NCR as a growth opportunity for developers, not a declining market

Tags: Gurugram, MMR, Mumbai, Navi Mumbai, ncr
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