Record homes in 2026, but war clouds loom

Published 11 June 2026 · local

As a record 5,40,400 housing units are scheduled for completion across the top 7 cities in 2026, highest in the last decade, developers are facing

As a record 5,40,400 housing units are scheduled for completion across the top 7 cities in 2026, highest in the last decade, developers are facing a challenging execution phase amid growing uncertainty due to the Middle East war.According to Anarock, a prolonged geopolitical conflict will impact project economics through higher energy prices, increased logistics costs, and inflation in key construction materials such as steel, aluminium, copper, electrical equipment, and building systems. The consultant said that end-user-driven housing demand remains resilient, and project financing is also better than in previous cycles. However, extended disruptions to global trade routes, commodity markets, and supply chains put developers’ ability to deliver projects on schedule to the hardest test in decades.“Of the total scheduled deliveries, the western markets of MMR and Pune collectively account for 57% of homes due for completion this year,” said Prashant Thakur, Executive Director & Head - Research & Advisory, Anarock Group.

In MMR, approximately 2,07,300 units are scheduled for delivery over the year, while Pune expects 1,00,300 units to be delivered in 2026. In the South, Bengaluru (69,000), Hyderabad(63,700) and Chennai (35,600) collectively have 1,68,300 units lined up for delivery this year. North India’s realty powerhouse NCR has just 39,000 units scheduled for completion. In the East, Kolkata has just 22,500 units scheduled for completion in 2026.“Historically, ambitious housing supply pipelines have often been vulnerable to external shocks like these,” Thakur said.For instance, during the pandemic year of 2020, 4.66 lakh homes were scheduled for completion across the top 7 cities. However, only about 2.14 lakh units, or 46% of the planned pipeline, were ultimately delivered as construction came to a halt due to lockdowns, labour migration, and supply-chain disruptions.The gap between scheduled and actual completions shows that even projects in advanced stages of construction can face delays when confronted with large-scale disruptions.

The current situation is fundamentally different from the pandemic, as construction activity continues uninterrupted and labour availability remains stable.“Cities with the largest completion pipelines – specifically MMR, Pune and Bengaluru - are particularly sensitive to sustained input costs inflation, as developers must maintain delivery schedules and simultaneously manage margin pressures,” said Thakur. Anarock’s data indicates that between 2017 and 2025, nearly 30.5 lakh housing units have been delivered across India’s top 7 cities. The 5,40,400 units scheduled to be delivered this year make 2026 the highest delivery year in the past decade – provided that all deliveries happen on schedule.The sheer scale of homes slated for delivery this year reflects the strong launch and sales momentum witnessed after the pandemic. Residential projects launched between 2021 and 2023 are now entering their final stages of construction, creating an unprecedented completion pipeline across the country’s leading housing markets.