₹2 crore for a 2BHK with no balcony? India’s homebuyers walk away, crashing sales in top cities

What happens when an entire generation stops pretending they can afford a home? In India’s biggest cities, they just walked away—sending housing sales into free fall. “This is a rebellion,” declared CoinSwitch co-founder Ashish Singhal, as buyers boycott ₹2 crore 2BHKs with no balconies and ₹80 lakh EMIs that swallow half a salary.

According to new data, housing sales across India’s top cities dropped 19%—the first time since 2021 that quarterly sales have dipped below the 1 lakh unit mark. The drop was sharpest in Delhi NCR at 23%, followed by Mumbai and Bengaluru, both down 15%.

Online, frustrated homebuyers aren’t mourning—they’re organizing. Reddit threads are buzzing with celebration: “No buyers for residential flats. Good going guys. Keep up the momentum. Don’t buy overpriced flats!!”

Singhal’s LinkedIn post captured the shift in tone. “Developers priced out an entire generation,” he wrote, pointing to ₹1.5 crore price tags for 1BHKs in Mumbai. “So people just stopped. Stopped viewing. Stopped negotiating. Stopped pretending these prices make sense.”

The result? A market in freeze. New housing supply has cratered 30%. Project launches are at multi-year lows. Builders, sitting on unsold inventory, are now bleeding interest on land that won’t move. “Every month of unsold units costs developers more than a 10% price cut would,” Singhal noted. “But ego is expensive.”

Meanwhile, buyers are sitting on cash, waiting for sanity to return. The expectation is clear: prices must come down—or the standoff will continue.

This isn’t a short-term dip. It’s a reckoning. A generation locked out of ownership has finally stopped playing along.