Over 5.4 lakh homes are scheduled for completion in 2026, but Middle East-led supply disruptions and rising input costs could delay deliveries, especially in MMR, Pune and Bengaluru, ANAROCK said.
India’s residential real estate sector is entering a high-stakes phase in 2026, with more than 5.4 lakh housing units scheduled for completion across the top seven cities, even as global disruptions threaten execution timelines.
According to ANAROCK Research, an estimated 5,40,400 homes are slated for delivery this year, making 2026 the highest completion year in the past decade. The scale of this pipeline reflects the strong housing momentum seen between 2021 and 2023, when developers launched and sold projects that are now nearing completion.
However, ongoing geopolitical tensions in West Asia are emerging as a key risk factor. Prolonged disruption to global trade routes and supply chains has begun to push up input costs and logistics challenges, putting pressure on developers to maintain construction schedules. While demand and funding conditions remain relatively stable, execution risks have increased.
“The current situation is testing developers’ ability to deliver on schedule,” said Dr Prashant Thakur, Executive Director and Head of Research & Advisory at ANAROCK Group. “This is the largest pipeline in a decade, but external shocks can impact timelines, as seen in previous disruption cycles.”
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The distribution of this supply is heavily skewed. Markets such as Mumbai Metropolitan Region (MMR) and Pune account for nearly 57% of total expected deliveries. MMR alone has around 2.07 lakh units lined up, followed by Pune with about 1 lakh units. In southern India, Bengaluru (69,000 units), Hyderabad (63,700 units) and Chennai (35,600 units) together contribute close to 1.68 lakh units. NCR, despite being a major market, has a smaller pipeline of about 39,000 units, while Kolkata stands at roughly 22,500 units.
Cities with the largest pipelines are also the most exposed to rising costs. Developers in MMR, Pune and Bengaluru are likely to face the most pressure as prices of key construction materials such as steel, aluminium, copper and electrical components continue to fluctuate. Increased energy costs and higher freight expenses are further straining project economics.
Historical precedent highlights the risks. During the pandemic year of 2020, only about 2.14 lakh homes were delivered against a planned pipeline of 4.66 lakh units — a completion rate of just 46%. While current conditions differ, with construction activity largely uninterrupted and labour availability stable, supply-side disruptions could still slow delivery timelines.
The industry has otherwise shown a steady recovery over the past few years. Housing completions have risen from around 2.04 lakh units in 2017 to 5.18 lakh units in 2025. The expected 5.4 lakh deliveries this year indicate continued growth, provided developers can execute projects on time.
The pressure to deliver is also being reinforced by regulatory requirements. Under RERA norms, developers are expected to adhere to committed timelines, leaving limited flexibility in the face of external disruptions. While improved balance sheets and better project monitoring have strengthened execution capabilities, sustained global volatility could still pose challenges.
ANAROCK notes that the industry is now transitioning from a phase driven by sales momentum to one focused on execution. The ability to complete projects on time will be critical not just for developer credibility, but also for maintaining homebuyer confidence.