India, March 27 -- The ongoing US-Iran war has dampened the real estate market, with sales across the top seven cities falling 7% in Q1 2026 compared to the previous quarter, according to ANAROCK Research. Chennai saw the sharpest quarterly drop in housing sales by almost 18%, even as it posted the highest annual growth, followed by Pune at 10%.

The data indicates that Q1 2026 saw a 7% drop in sales across the top 7 cities against Q4 2025. Approximately 1,01,675 units worth Rs.1.51 lakh crore were sold in Q1 2026 in the top cities, compared with approximately 1,08,970 units worth Rs.1.60 lakh crore in Q4 2025. City-wise, MMR and Bengaluru accounted for 48% of total sales in this quarter.

MMR recorded the highest housing sales of approxi...