The Indian residential property market is experiencing a notable increase in the number of homes available for sale, according to a recent analysis by eXp India. Data shows that since the start of 2025, cities across the nation have seen rising stock levels, providing buyers with more opportunities and reducing the risk of inflated market prices.
Surat has emerged as the fastest-growing market, recording a 14.9 per cent increase in flats listed for sale, moving from 4,650 in January to 5,342 by September. Following closely are Lucknow at 14.8 per cent, Kanpur at 14.7 per cent, and Indore at 13.5 per cent. These cities are now offering prospective buyers a considerably broader selection of properties.
Larger urban centres have also seen meaningful growth in availability. Delhi reported a 7.6 per cent increase in listings, while Kolkata and Ahmedabad each rose by 7.2 per cent. This expansion is particularly important in major cities where high demand has often outpaced supply, contributing to escalating property prices over previous years.
Despite these surges, Mumbai remains the most active real estate market by sheer volume. Over 54,000 flats are currently listed for sale, followed by Pune with 51,380 and Bengaluru with 41,811. Although growth in these metropolitan hubs has been more modest, they continue to serve as central nodes of Indian real estate activity, attracting both investors and homebuyers.
The analysis by eXp India highlights that rising stock levels across the country are fostering a more balanced market environment. This allows buyers to access more properties without triggering the bidding pressures often associated with undersupplied markets.
Sam Chopra, President of eXp India, highlighted the significance of this trend, noting that an increase in housing stock helps create a more balanced market. “More choice in the market allows buyers to secure the right home without excessive bidding pressure. At eXp India, we are equipping our agents with the autonomy, technology, and global expertise to navigate this evolving landscape, ensuring both buyers and sellers succeed,” he said.
Cities experiencing substantial growth like Surat, Lucknow, Kanpur, and Indore are now witnessing a more level playing field for buyers. This growth indicates a shift in the market dynamics, where emerging cities are catching up with traditional metros in providing diverse housing options. For buyers, this trend can mean less competitive pressure and a greater likelihood of finding properties that match their requirements and budget.
Meanwhile, in India’s largest real estate centres, the incremental rise in stock reflects sustained demand and ongoing development. Delhi’s 28,465 listings, Kolkata’s 26,710, and Ahmedabad’s 21,377 listings suggest that even in established markets, the supply-demand equilibrium is gradually stabilising.
Smaller increases were observed in cities such as Nagpur (5.6%), Pune (4.0%), Mumbai (2.2%), Chennai (1.8%), Navi Mumbai (1.5%), Hyderabad (1.5%), Jaipur (1.0%), and Bengaluru (0.5%). These figures indicate that while the overall growth is nationwide, the pace varies, influenced by local factors including urban development projects, infrastructure improvements, and buyer demand patterns.
The wider availability of homes across Indian cities also aligns with government initiatives aimed at promoting affordable housing and facilitating easier access to property ownership. Increased stock levels, particularly in emerging cities, could alleviate pressure on prices, offering relief to first-time buyers and those seeking investment opportunities.
The surge in residential property listings across India, led by Surat, points to a more balanced and accessible real estate market. As stock levels continue to rise in both emerging and established cities, buyers are likely to benefit from increased choice, more competitive pricing, and reduced pressure during the purchasing process. This evolving landscape signals positive developments for the country’s housing market as it adapts to meet the needs of a growing and increasingly mobile population.
