As 2025 draws to a close, India’s real estate, infrastructure, and construction ecosystem stands at a critical inflection point, defined by resilience, consolidation, and a clear shift toward quality, sustainability, and infrastructure-led growth. Despite pockets of moderation in housing sales and cautious capital deployment, the sector demonstrated strong underlying fundamentals, supported by large-scale public investment, improving affordability, evolving buyer preferences, and renewed institutional interest.
From record institutional inflows and the rise of branded and luxury residences to the growing dominance of green-certified commercial assets and technology-led infrastructure execution, 2025 marked a year of structural maturity rather than speculative excess. As developers, investors, manufacturers, and consultants recalibrate strategies for 2026, the focus is firmly on long-term value creation, anchored in transparency, execution capability, ESG compliance, and integrated urban development. Industry leaders share their perspectives on the trends that shaped 2025 and the opportunities that will define the next phase of India’s growth story.
Insights from Industry Experts
Mr Ankur Jalan, CEO, Golden Growth Fund (GGF), a category II Real Estate focused Alternative Investment Fund (AIF)
“Institutional investment crossing the $10 billion mark in 2025 marks a defining moment for the real estate sector. It reflects renewed investor confidence supported by improving macroeconomic stability, evolving demand, and the sector’s ability to deliver steady, risk-adjusted returns. Institutional capital is increasingly targeting high-quality assets, resilient income streams, and long-term growth opportunities. This milestone also signals a maturing market, where transparency, governance, and sustainability are becoming central to investment decisions. Overall, the scale of investment highlights real estate’s continued relevance as a core asset class in diversified institutional portfolios.”
Mr Lalit Parihar, MD, Aaiji Group, a Dholera-based real estate company
“The year 2025 has been a mixed one for India’s real estate sector. While most top metropolitan markets witnessed a moderation in housing sales and new launches—largely due to elevated home prices, selective buyer sentiment and cautious investor behaviour—several cities in Gujarat stood out for their sustained performance. Markets such as Ahmedabad, Vadodara, Surat and Gandhinagar continued to show resilience, supported by relatively better affordability, steady growth in white-collar employment, rising demand from both local and migratory populations, strong corporate investment inflows and accelerated infrastructure development.
Among the key catalysts shaping Gujarat’s real estate has been the emergence of Dholera as one of India’s most closely watched real estate and industrial destinations and the announcement of Ahmedabad as a host city for the upcoming Commonwealth Games. These two factors have significantly strengthened long-term growth expectations for the state’s property markets.
Some of the infrastructure and industrial projects like Ahmedabad–Dholera Expressway, upcoming Dholera International Airport, infrastructure spending linked to the Commonwealth Games, robust pipeline of investment commitments in Dholera estimated at around ₹3.3 lakh crore including the ₹91,000-crore semiconductor fabrication facility by the Tata Group, along with significant investments in logistics, power and allied infrastructure, continued expansion of employment-generating industries, is expected to spur migration, further deepen the region’s economic base and create a strong foundation for long-term real estate demand.
Investor interest in Dholera’s real estate market, particularly plots, has been noteworthy, with participation extending beyond Gujarat to NRIs and buyers from North Indian markets such as Delhi-NCR, Punjab and Haryana. The heightened demand is reflected from the fact that land prices in the region have reportedly increased nearly ten-fold over the past decade. There is strong demand for plots within Dholera Smart City RERA-approved plotting projects as well as in surrounding villages like Rojka, Kamiyala, and Shela. Demand in these villages is particularly high.
As industrial and infrastructure projects move closer to operationalisation over the next few years, Gujarat’s urban markets – and Dholera in particular – appear well-placed to enter the next phase of sustained, end-user-led real estate growth.”
Mr. Vijay Harsh Jha, founder and CEO of property brokerage firm VS Realtors
“The year has been marked by the resilience shown by real estate developers. Despite a dip in sales and new launches over the past two years, there is little cause for concern. Homebuyers continue to gravitate toward developers with a proven ability to execute projects, generate returns, and create long-term capital value. The groundwork for a strong upturn is clearly visible, driven by robust domestic consumption and supported by policy measures such as GST rationalisation, income tax cuts, low-interest rate regime amid falling inflation. These factors are expected to strengthen buyer sentiment and liquidity, paving the way for a positive 2026. Markets like Gurugram are well positioned to lead this upward momentum, supported by infrastructure growth, end-user demand, and sustained investor interest.”
Mr Idris Rajkotwala, Executive Director, Unitile
“As we conclude 2025, India’s commercial real estate sector has decisively transitioned toward performance-led, sustainability-driven development. Since 2019, green-certified assets have accounted for approximately 65% of the growth in India’s Grade A office stock, and by mid-2025, sustainable buildings represented over 70% of new office leasing activity across major markets. This reflects a fundamental shift in occupier priorities, where ESG compliance, operational efficiency, and employee well-being are now core to real estate strategy.
The past year has also reaffirmed the permanence of hybrid working and flexible space adoption. Flex and managed office formats continue to represent a rising share of annual leasing, while both domestic and global occupiers are demanding assets that can adapt quickly to evolving workforce patterns, technology requirements, and cost pressures. As a result, capital investment is increasingly flowing into performance-based specifications such as acoustic comfort, indoor environmental quality, and durable, resilient material systems.
Looking ahead to 2026, we expect this focus to deepen as regulatory frameworks and incentive structures begin to actively support low-carbon construction and retrofit-led modernisation. Modular and sustainable building systems, ranging from raised access flooring and advanced acoustic solutions to structural ceiling systems, will play a critical role in enabling flexibility, faster reconfiguration, and long-term environmental performance.
Ultimately, the next growth cycle in India’s commercial office market will be defined by how intelligently buildings are designed as integrated systems. Assets that combine modularity, sustainability, and performance beneath the surface will be best positioned to attract occupiers, command rental premiums, and protect long-term value.”
Mr Aakash Patel, Managing Director of Atul Projects
“Mumbai’s increasing connectivity through Infrastructure development continues to shape different Micro Markets. For example, new West and Central Metro Connection enhancements will support higher Housing Buyer Confidence and provide long-term value Creation, as will the new Coastal Road Linkages and Improved Arterial Networks. Each of these Corridors, i.e., Metro lines, Coastal Road Linkages, and Improved Arterial Networks, is experiencing an increase in Housing Buyer Confidence and a long-term increase in Value Creation as a result of this work. Historically, Redevelopment has unlocked opportunities for Modern Living in today’s most established Neighbourhoods. In 2026, due to the efficiencies created by GST, this momentum will only continue. We are committed to developing Structurally Sound and future-ready developments in terms of design and constituent construction materials that align with the growth potential of each evolving Micro Market.”
Mr. Vyom Agarwal, President, ACE-Action Construction Equipment
“For the construction equipment sector, 2025 unfolded as a year of tempered business activity. Extended rains across several regions, combined with the industry’s shift to Stage V emission norms, slowed equipment deployment and stretched out customer decision cycles. Early-year pre-buying and a cautious pace of adopting newer technologies added to the moderated market rhythm, while global volatility and higher cost of equipment influenced customer’s decisions across the value chain.
Yet, at ACE, we see 2026 signal a broad revival in demand through growing traction in private capex, export-led opportunities, expansion in defence applications and public expenditure flowing into airports, railways and freight corridors. Additionally, policy impetus, GST reforms, softer interest-rate conditions, and an improved liquidity environment will play an important role in supporting demand and strengthening industry confidence. As infrastructure programmes scale up, we expect stronger visibility across our equipment categories. The coming year will also mark a deeper move towards digital ecosystems, with remote diagnostics, predictive analytics and telematics enhancing utilisation and lifecycle management.
To strengthen this momentum, we encourage the government to consider imposition of safeguard or anti-dumping duties on Chinese crawler excavators and tower cranes to ensure a fair and level playing field for domestic manufacturers. These interventions will be pivotal in boosting competitiveness and positioning the CE industry as a core enabler of India’s infrastructure aspirations in 2026 and beyond.”
Mr. Nagendra Nath Sinha, MD, Rodic Digital & Advisory
The year 2025 has been a truly transformative chapter in India’s infrastructure-led growth story. A strong demand surge driven by accelerated road building, renewed momentum across rail, metro and industrial corridors, and the government’s continued thrust on modernizing national infrastructure and strong fiscal support has reaffirmed how rapidly the sector is scaling. As of March 2025, India’s road network has crossed 63 lakh kilometers, making it the second largest in the world. At the same time, digital maps and spatial intelligence are reshaping how highways are envisioned, designed, executed, operated and maintained. This shift has been fueled by the powerful integration of GIS technologies with the PM Gati Shakti National Master Plan and enabling access thereto to the private sector, enabling faster, data-led and future-ready infrastructure development. The 2025 infrastructure strategy emphasises renewable energy, efficient utilities, and sustainable infrastructure acknowledging environmental and growth imperatives. Urban development projects, including smart-city initiatives, metro expansions, modern utilities, and housing, are scaling up pushing India toward more sustainable, planned urbanisation. Governments and private promoters are increasingly taking up complex “mega-projects” across transport, urban infrastructure, energy, ports as they seek to improve connectivity, economic gains and productivity and sustainability. 2025 seems to reflect a broader shift towards updating outdated laws, providing clarity, enabling private investment, and integrating sustainability / modern technology making infrastructure regulation more agile, investor-friendly and future-ready, esp. in ports, energy storage, telecom sectors.
We strongly believe that the Indian infrastructure and engineering consultancies like us, strengthened by digital transformation, are now competing confidently on global platforms. However, 2025 also brought its share of challenges like dampened highway construction pace and approvals, skill shortages in a rapidly digitizing era, global supply-chain disruptions and raw material price inflation that made delivery on ambitious export and domestic commitments more complex, while industry continues to suffer from cost and time overruns due to time consuming land acquisition, environmental clearance and regulatory approvals; limited access to structured long term financing, shortage of skilled labour and limited adoption of modern construction technologies and governance, coordination and accountability constraints.
As we look ahead to 2026, we believe India is entering a decisive phase where ambition, sustainability and integration must converge. We urge the government to deepen digital skilling, streamline approval cycles, strengthen supply chain buffers, improve availability of long term financing and continue incentivizing technology-led project execution. We also urge the governments across the spectrum to continue fiscal support, streamlining policy and regulation, providing visibility across sectors for projects as it has done through National Infrastructure Pipeline, provide impetus for monetization of assets and creating a more dynamic market for PPP assets, laying out roadmap and policy/fiscal support for new infrastructure classes viz. energy storage systems (both BESS and PSP), slurry pipelines, data centers, green energy and energy transition and urban infrastructure. These actions will be crucial for sustaining momentum and shaping the next decade of infrastructure evolution.”
Mr. Mohit Jandu, MD, J Infratech
“The past year has been a mix of steady advancement and evolving priorities for India’s highway sector. While certain project bids saw rescheduling due to state-level clearance delays, the broader development momentum remained intact. The government’s renewed push to attract private participation, supported by the approval of high-speed corridor packages spanning nearly 930 km and backed by over ₹ 50,655 crore, has set a strong foundation for the years ahead. This aligns with India’s ambitious roadmap to expand its high-speed road network, with an investment outlay of nearly ₹11 lakh crore aimed at modernising infrastructure and reducing logistics costs.
The integration of GIS-led planning, intelligent traffic systems, digital tolling, and citizen-facing mobility platforms is transforming highways into responsive, data-enabled assets. In 2026, technologies, sustainability-focused methods and corridor-led approaches are poised to remain areas of sectoral focus.”
Mr. Khursheed Alam, Founder, Atmos Systems
“For Atmos Systems, 2025 has been a pivotal year marked by a strong rise in logistics and warehousing activity across India. The surge in e-commerce fulfilment, rapid retail expansion, and growing 3PL operations significantly increased demand for advanced material handling systems. We saw heightened interest in high-throughput conveyor lines, automated storage solutions, electric forklifts, and intelligent sorting systems, as customers sought greater efficiency, safety, and predictability in their operations.
While this growth has been encouraging, it has also brought its share of challenges. High capital costs for automation, skill shortages in robotics and digital systems, and integration barriers, continue to create friction. However, these hurdles are gradually being addressed through innovative financing models, focused skilling efforts, and the rapid maturation of interoperable technologies. For us, this meant investing more in training programmes, offering modular system designs, and working closely with customers to streamline digital integration without disrupting ongoing operations.
As we look ahead to 2026, the trajectory is clear – sustainability, autonomy, and intelligence will define the next era of material handling. Electric forklifts, powered by lithium-ion technology, are steadily becoming the default choice as companies transition toward greener, low-maintenance fleets. At the same time, AI-enabled equipment, IoT-driven diagnostics, and autonomous mobile robots (AMRs) are moving from pilot projects to mainstream adoption, driven by the need for resilience and real-time decisioning.
At Atmos Systems, our focus for 2026 is to deepen our portfolio in sustainable, digitally intelligent material movement solutions, ensuring Indian warehouses are equipped for a more competitive and future-ready manufacturing landscape.”
Mr. Aniruddha Mehta, Chairman and Managing Director
“As 2025 draws to a close, India’s real estate sector has maintained steady upward momentum, driven by rapid urbanisation, improving affordability, and rising homebuyer confidence. This year also saw a clear shift toward lifestyle-led buying—more homeowners are choosing holiday homes and monetising these assets during non-occupancy—while premium micro-markets gained traction as buyers prioritise community living, superior social infrastructure, and aspirational upgrades.
Stable interest rates, proactive regulatory reforms, and growing demand for both residential and commercial assets strengthened the market through 2025. Developers embraced greater transparency, technology-led construction practices, and customer-centric design, making the year one of consolidation and maturity for the sector.
For Umiya Buildcon, 2025 has been a year of focused execution and strategic expansion across Bengaluru and Goa. Leveraging nearly two decades of experience and a full-stack, in-house delivery model spanning design, construction, sales, leasing, and property management, the company continued to deliver quality and timely execution. As part of its value-unlocking strategy, Umiya monetised a non-core property in Electronics City, Bengaluru, for ₹40.5 crore and has redeployed proceeds into a cost-efficient manufacturing site, R&D, and upcoming real-estate projects.In addition, the company’s purchase of 20,000 sq ft of prime land in Bengaluru’s central business district represents an important strategic acquisition, a significant step toward establishing Umiya Buildcon in one of Bengaluru’s top locations, especially for luxury developments.
On the project front, Umiya’s flagship commercial asset Umiya Vellociti in Bengaluru continues to anchor its portfolio, while the company launched Umiya Bricklane — a RERA-approved boutique residential community in the heart of Candolim, marking its formal entry into the holiday-home segment. Umiya is also preparing to launch an uber luxury sea-side villa development in Benaulim, Goa. Together these projects underscore Umiya’s strategic focus on boutique holiday homes and ultra-premium residential developments in distinctive micro-markets.
Heading into 2026, demand is expected to deepen for integrated townships, premium commercial spaces, and environmentally responsible developments. Umiya Buildcon will continue to broaden its development pipeline with market-aligned offerings, strengthen execution capabilities, and prioritise sustainable, customer-first real-estate solutions that reflect India’s evolving urban lifestyle.”
Mr Gaurav Pandey, MD & CEO, Godrej Properties Ltd.
“2025 was a year of sustained growth for Indian real estate, driven by strong housing absorption, firm pricing, and the delivery of major infrastructure projects across key metros. Demand remained fundamentally end-user focused, supported by rising incomes and formal job creation, while consolidation accelerated as customers increasingly chose branded developers for transparency and execution certainty.
As we step into 2026, the sector is poised for stable, broad-based growth, underpinned by disciplined supply and a healthier demand–inventory balance. With multiple infrastructure projects nearing completion and urban employment drivers remaining robust, we expect momentum to continue anchored in genuine homeownership aspirations rather than speculative activity.”
Mr Deep Vadodaria, Managing Director, Nila Spaces Limited.
“2025 has been a year of taking stock for the real estate sector. While several categories have continued to perform exceptionally well, others have been forced into a reality check especially with the oversupply and swelling luxury inventory.
The key learnings from 2025 are clear:
- Brand premiums are becoming a defining force in India, with larger developers commanding significant pricing power.
- New categories such as wellness real estate have moved from concept to mainstream adoption.
- Developers are finally becoming sustainable in a meaningful sense not as a marketing line, but as a design and construction philosophy.
- Competition has intensified, even as global and institutional investments that were flowing freely until 2022–23 have now slowed, with the ecosystem sitting on surplus liquidity.
With markets at lifetime highs, sentiment has naturally shifted towards more conservative investment postures, but this is largely cyclical. I expect 2026 to see a renewed surge of capital into real estate, especially as the sector becomes increasingly user-driven, a true buyer’s market with abundant product availability.
We’re finally reaching a stage where a genuine buyer–seller equilibrium is emerging across several micromarkets. India’s broader economic momentum and rising purchasing power will continue to support this shift. And, importantly, Indian consumers are mentally unlocking a new sense of affordability, not risky, but more open, decisive, and aspirational.
Quality of life has become the decisive factor. Upgrading lifestyles is now one of the strongest consumption drivers, and this trend will only accelerate through the next decade.
2026 looks set to be a year of opportunity:
- New avenues and segments emerging
- More innovation in sustainable design
- Cities and developers increasingly working together on infrastructure and urban support systems
This alignment: consumer aspiration, developer maturity, and urban collaboration is what will define the next chapter of Indian real estate.”
Mr Abdulkader Bengali, MD, Hansgrohe India
“2025 has been a defining year for the luxury housing and hospitality segments in India. Both sectors have demonstrated a strong shift toward elevated bathroom experiences that prioritise wellness, sustainability, and design. Developers and hotel partners are increasingly choosing high-quality, durable, and water-efficient solutions that enhance comfort while supporting long-term environmental goals.
This shift is reflected across the broader bath and wellness industry as well. Homeowners, architects, and planners are embracing thoughtfully engineered products that combine intuitive functionality, aesthetic refinement, and responsible water usage. The move toward wellness-centric bathrooms and sustainable product choices has grown significantly, driven by rising consumer awareness and the pursuit of lasting value.
As we approach 2026, this momentum is set to strengthen. Premium housing demand, continued urban infrastructure development, and renewed growth in India’s hospitality sector will drive greater interest in technology-enabled, experience-driven bathroom solutions. Consumers will increasingly look for offerings that blend superior performance with contemporary design and eco-conscious innovation.
In 2026, our priority will be to deepen engagement with partners and customers, expand our presence across high-growth and emerging markets, and introduce solutions that set new benchmarks in design, efficiency, and everyday comfort. The year ahead promises steady, innovation-led progress anchored in sustainability and elevated experiences.”
Mr Ashish Narain Agarwal, Founder & MD of PropertyPistol
“India’s real estate market in 2025 has recorded consistent growth, particularly in major cities, with annual price appreciation of around 5–6%, reflecting strong end-user demand. Key growth drivers include infrastructure developments such as metro expansions, new expressways, airports, and transit corridors, which have reshaped micro-market dynamics. Redevelopment, especially in land-scarce cities, is unlocking new supply and improving the use of existing urban space. Premium and luxury housing continues to see steady demand, supported by HNIs and NRIs. Real estate remains a critical pillar of the economy, contributing nearly 6–7% of GDP. However, long-term ROI is now driven more by infrastructure quality and supply, with plotted and low-density projects gaining momentum.”
Mr Akshay Taneja, CEO, TDI Infrastructure
“As 2025 comes to an end, real estate remains a good investment, especially in infrastructure-led corridors, where you can see public capital expenditure being placed into real demand for real, in real time. The plans authorities and market studies depict the buyer and investor moving out of the saturated metro cores towards less saturated new zones like Kundli and Sonipat. Projects such as the KMP Expressway, UER II, the Delhi–Panipat RRTS corridor and next Delhi–Sonipat Metro extension are fueling this move. This economic backbone is also bolstered by large employment anchors, like the Maruti Suzuki manufacturing plant and HSIDC industrial belt. Though interest rate volatility and construction cost pressures are still risks recognized by the RBI and industry bodies, infrastructure-backed micro-markets are a much more prudent risk-return balance. The market today is obviously all about long-term capital appreciation and rental stability, not speculative speculation.”
Mr Sunil Sisodiya, Founder & CEO, Neworld Developers
“As buyers shift away from a more traditional property-based buying landscape towards such lifestyle destinations as North Goa Extension, space, cleaner environments and the quality of life overall are becoming paramount decision drivers for buyers approaching the end of 2025. Industry studies suggest that several micro-markets in the region have experienced 8–12% annual price rise in 2025, fueled by practical demand from end users and long-term investors rather than by speculation. Flexible and hybrid work arrangements have quickened the pace of this change, and positioned the market as a practical year-round residential market.
Mr Vishal Raheja, Founder & MD, InvestoXpert Advisors
“Infrastructure has been the biggest driver of real estate returns. Along the Yamuna Expressway, apartment prices have risen nearly 150% in five years, while plotted developments have delivered almost six-times growth. This clearly signals a shift toward land-led, low-density assets in corridors backed by tangible infrastructure like the Jewar airport. Going forward, connectivity, job creation and regulatory clarity will continue to deliver stable, inflation-beating returns.”
Mr Neeraj K Mishra, Executive Director, Ganga Realty
“The year 2025 has been a defining phase for NCR real estate, especially Gurgaon, which continues to set the benchmark for modern urban living. We have seen a clear shift in buyer behaviour, with customers prioritizing larger, well-planned homes, integrated amenities, and sustainable community designs. The city’s strongest corridors—from Dwarka Expressway to SPR and New Gurgaon—benefited immensely from improved connectivity and expanding social infrastructure. With major projects nearing completion and policy stability supporting consumer sentiment, 2026 is positioned to unlock even stronger end-user and investor participation. At Ganga Realty, we believe the coming year will see accelerated demand for quality-driven, value-focused developments that cater to long-term aspirations. Gurgaon’s evolution as a lifestyle-first market will continue to drive its leadership in NCR’s real estate landscape.”
Mr Saransh Trehan, Managing Director, Trehan Group
“As 2025 comes to an end, India’s real estate sector stands stronger and more confident than ever. This year has reinforced homebuyer trust and strengthened the fundamentals of the market. Gurugram, in particular, has outperformed every expectation—driven by world-class infrastructure, corporate growth, and a lifestyle ecosystem that continues to evolve rapidly. We have seen sustained demand across premium, luxury, and well-planned mid-segment housing, reaffirming the city’s position as India’s most aspirational destination. Emerging corridors like Bhiwadi, Alwar, and Neemrana have also gained momentum due to improved connectivity and rising aspirations. As we step into 2026, I believe the sector is poised for one of its most transformative years, with sustainability, innovation, and customer-centric development shaping the future of Indian real estate.”
Mr. Robin Mangla, President M3M India said
“As 2025 draws to a close, India’s real estate sector stands at its strongest inflection point driven by unprecedented homeownership demand, rapid infrastructure delivery, and a clear transition toward experiential, future-ready living.
This year also witnessed a structural shift with the launch and acceptance of branded residences as the next leap of luxury for India, redefining how affluent buyers perceive value, personalization, and global-standard services. The sector’s evolution reflects a market that is more confident, transparent, and innovation-led than ever before.
At M3M India, 2025 has been a landmark year marked by operational excellence, strengthened financial discipline, and the successful rollout of developments aligned with new-age lifestyle expectations- and the launch of high end luxury branded residences, mixed use commercial spaces, mega integrated city etc. As we move into 2026, we remain committed to leading with vision, engineering world-class communities, and shaping India’s next chapter of real estate growth.”
Rohit Kishore, CEO, Hero Realty
“In 2025, the NCR real estate market has thrived thanks to strong buyer interest and investment. Improved infrastructure, especially the Dwarka Expressway and UER-II launched by Prime Minister Modi, has enhanced connectivity and increased the region’s appeal. Tier-2 cities like Ludhiana, Mohali, Lucknow, Dehradun, and Haridwar are also experiencing growing demand for high-quality developments, indicating a shift toward emerging urban centers. As we look to 2026, the sector is set for continued growth, backed by better infrastructure and a focus on sustainable, lifestyle-oriented communities. Developers are well-positioned to meet evolving homebuyer needs and deliver lasting value.”
Mr Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Homes
“The year began with considerable discussion around a potential market slowdown, declining consumer sentiment, price stabilisation, and concerns of oversupply and muted demand. However, our experience at DLF has been quite the opposite. The overwhelming success of Privana North in Gurugram (April) and our maiden Mumbai project, The West Park (July), both of which were sold out within a week of launch, generating ₹11,000 crore and ₹2,300 crore respectively, clearly demonstrated that quality real estate continues to command robust demand. These outcomes not only countered the prevailing market assumptions but also reinforced a key message: demand remains strong for high-quality, high-trust, high-value projects, and there is never a “wrong time” to invest in real estate when the fundamentals are right.
While Gurugram has always been a strong market for us, many questioned whether DLF could replicate similar results in Mumbai. The success of our debut project in the city was a powerful validation that consumer aspirations remain consistent across geographies. They seek superior products, value for money, and the assurance of a trustworthy brand.
For DLF Homes, 2025 was an exceptional year not only because of the performance of our projects but also because it marked a major milestone: our formal entry into Mumbai. Additionally, our super-luxury development, The Dahlias, continued to set new benchmarks, attracting clients from across India and overseas, with landmark transactions which have set national and international benchmarks. Nearly 50% of the project is absorbed pre–formal launch, just within our network of family and friends. For the first time in this category, priced upward of ₹75 crore, we are witnessing strong demand from markets such as Mumbai – which is new to us, Kolkata, Ludhiana, and several other cities. This signifies that ultra–high-net-worth buyers today prioritise product excellence over location and are willing to invest in the very best offerings nationwide. These are new and encouraging trends for us.
NRI investments, too, continued to deliver stable and substantial contributions across our portfolio, spanning plotted developments, independent floors, and premium high-rise residences from Mumbai to Gurugram and from Panchkula to Chennai. NRI confidence in India, its economic trajectory, and the Indian real estate sector is at an all-time high, despite global geopolitical uncertainties. The India growth story, coupled with product offerings that now match global standards, is drawing NRIs back to invest in their home country. This year, nearly 25% of our overall sales came from NRI markets.
We are also witnessing rising participation from Tier 2 and Tier 3 cities. These markets possess significant purchasing power, coupled with strong aspirations for upward mobility, better lifestyles, and high-quality homes. Notably, younger buyers are entering the market earlier than ever often in their 20s and 30s. They are unwilling to compromise on quality and increasingly influence family purchase decisions; many are also upgrading to luxury products sooner in their life journeys.
The luxury segment, in particular, has demonstrated exceptional resilience across major cities. Whether it is the Privana community with ticket sizes of ₹8–10 crore or The Dahlias at ₹70 crore and above, demand has been consistently strong. This momentum is driven by lifestyle upgradation and a shift towards long-term value creation rather than transactional buying.
Luxury housing outperformed all other segments in 2025. Homeownership continues to rise in importance, supported by sustained consumer confidence and significant price appreciation in key NCR micro-markets. Real estate has outpaced other asset classes in capital growth and rental yields, making it a preferred investment avenue for HNIs, UHNIs, and NRIs. Demand for amenity-rich, and high-quality luxury projects has grown sharply due to limited supply and rising aspirations. Luxury real estate in India has evolved into a holistic experience, buyers no longer seek merely a residence but an ecosystem that mirrors global standards of convenience, wellness, and everyday indulgence. Integrated access to fitness, wellness, dining, retail, and business facilities, reducing daily friction and saving time, has become the new definition of luxury.
Mr. Sumit Agarwal, Director, Ashtech Group
The year 2025 reaffirmed the strength and resilience of India’s residential real estate market, with demand increasingly gravitating towards quality-led developments. Homebuyers today are far more discerning—they are not just buying homes, but upgrading their lifestyles. Projects that offer superior construction standards, modern amenities, thoughtful design, and strong location fundamentals are clearly outperforming the broader market.
We are witnessing a pronounced shift from older, congested housing stock to well-planned developments that provide better liveability, safety, and long-term value. This trend is expected to strengthen further in 2026 as buyers prioritise comfort, wellness, and future-ready infrastructure.
While the overall real estate sector is poised for continued growth, certain micro-markets are likely to outperform. Regions such as Noida and Greater Noida are emerging as standout destinations, supported by transformational infrastructure developments including the upcoming Jewar International Airport, expanding industrial corridors, improved expressway connectivity, and growing commercial activity. These factors are creating a robust economic ecosystem that will drive sustained housing demand.
As we head into 2026, with home loan interest rates stabilising at more comfortable levels, buyer confidence is set to strengthen further. We believe this will translate into healthy demand momentum, particularly for well-located, high-quality residential projects that offer both lifestyle value and long-term appreciation.
Mr. Vikas Bhasin, Managing Director, Saya Group
The Indian real estate market witnessed sustained and broad-based growth in 2025, driven by strong end-user demand, improving buyer confidence, and continued infrastructure-led development across key urban markets. What stood out this year was the depth of demand—not just in luxury housing, but also across mid-income and aspirational segments, where homeownership sentiment strengthened significantly.
As we step into 2026, the outlook remains equally positive. One of the most encouraging factors is the clear downward trajectory of home loan interest rates, which have now softened to comfortable levels of around 7.25% per annum or even lower in some cases. This easing of borrowing costs is expected to translate into improved affordability, higher eligibility, and renewed momentum among first-time and upgrade homebuyers.
We believe 2026 will see a noticeable pickup in the mid-income and upper-mid segments, as fence-sitters convert intent into action. Stable pricing, better financing conditions, and enhanced product offerings by developers will further support demand. With strong fundamentals, robust urban infrastructure, and a favourable interest-rate environment, the real estate sector is well positioned to continue its growth trajectory in the coming year.
Mr Parvinder Singh, CEO, Trident Realty
“As 2025 comes to an end, the real estate market is showing a renewed sense of confidence. The conviction of buyers is leading this change. New age customers are clearer about the kind of homes they want. Across major cities, they are choosing well-planned, substantial spaces that feel more meaningful to live in. Chandigarh has stayed steady, Mohali is gaining pace with fresh commercial activity, and much of this year’s interest is now turning toward Panchkula. People are responding to its wider roads, quieter sectors and easier movement. The region is seeing a clear shift toward high-value homes, and developers are matching this demand with premium launches. If this direction continues, the Tri-City, with Panchkula at the centre, will play a stronger role in the country’s premium housing landscape in 2026.”
Mr Anil Godara, Founder and Managing Director, J Estates
“2025 has been a milestone year for retirement homes in the Delhi NCR market as the concept of purpose-built communities for the retired and seniors gains real traction. Industry research underlines the fact that organised senior living, of which retirement housing is a significant component, is set to see long-term expansion as India’s senior demographic grows and demand outstrips supply by a large margin. Occupancies in professionally managed communities remain high, and the project pipelines are gaining strength, with developers adopting wellness, healthcare integration, and experience-led design as core differentiators. Delhi NCR’s well-developed healthcare ecosystem, increased connectivity, and increasing aspiration for lifestyles have hastened interest in retirement residences for both end users and investors. As we look toward 2026, we expect deeper institutional participation, clearer policy frameworks, and steady absorption in the retirement homes vertical. These trends reinforce our focus on delivering thoughtfully planned retirement homes that combine community, care, and capital resilience.”
Mr Ashish Agarwal, Director, AU Real Estate
As 2025 draws to a close, India’s housing market has shifted from recovery to clear momentum. Buyers now seek space, design and long-term value, and this is most evident in Delhi NCR, where luxury homes continue to lead price growth across major cities. New infrastructure and emerging business districts are also reshaping preferences, turning locations like Noida into preferred addresses for high quality living. Industry reports show rising ticket sizes and a growing share of premium launches, reflecting strong confidence from both investors and end users. This is a structural shift toward lifestyle focused, investment grade housing across India’s leading markets.
Mr Deep Vadodaria, Managing Director, Nila Spaces Limited.
2025 has been a year of taking stock for the real estate sector. While several categories have continued to perform exceptionally well, others have been forced into a reality check especially with the oversupply and swelling luxury inventory.
The key learnings from 2025 are clear:
• Brand premiums are becoming a defining force in India, with larger developers commanding significant pricing power.
• New categories such as wellness real estate have moved from concept to mainstream adoption.
• Developers are finally becoming sustainable in a meaningful sense not as a marketing line, but as a design and construction philosophy.
• Competition has intensified, even as global and institutional investments that were flowing freely until 2022–23 have now slowed, with the ecosystem sitting on surplus liquidity.
With markets at lifetime highs, sentiment has naturally shifted towards more conservative investment postures, but this is largely cyclical. I expect 2026 to see a renewed surge of capital into real estate, especially as the sector becomes increasingly user-driven, a true buyer’s market with abundant product availability.
We’re finally reaching a stage where a genuine buyer–seller equilibrium is emerging across several micromarkets. India’s broader economic momentum and rising purchasing power will continue to support this shift. And, importantly, Indian consumers are mentally unlocking a new sense of affordability, not risky, but more open, decisive, and aspirational.
Quality of life has become the decisive factor. Upgrading lifestyles is now one of the strongest consumption drivers, and this trend will only accelerate through the next decade.
2026 looks set to be a year of opportunity:
• New avenues and segments emerging
• More innovation in sustainable design
• Cities and developers increasingly working together on infrastructure and urban support systems
This alignment: consumer aspiration, developer maturity, and urban collaboration is what will define the next chapter of Indian real estate.
Outlook for 2026 and Beyond
2026 will be a defining period. While some market experts have issued cautious outlooks, we firmly believe that high-quality projects will continue to be outliers that surpass market trends. The momentum built in 2025 will carry forward, driven by luxury-led growth, sustained NRI participation, and the rise of high-potential corridors such as Gurugram, Mumbai, Hyderabad, and Bengaluru.
With India’s economic fundamentals aligned with the pace of infrastructure development, the year ahead promises deeper consolidation and a more sophisticated expression of urban living. We also anticipate new formats gaining prominence, branded residences (though we remain away from this segment), senior living, vacation homes in leisure destinations, and ultra-luxury developments that redefine residential living in India.
Favourable government policies will further support demand, while the significant infrastructure upgrades underway across major Indian cities will begin to positively shape the real estate landscape, through enhanced connectivity, improved civic amenities, and strengthened investor confidence.
We also hope to see greater adoption of public–private partnerships, enabling private enterprises and the government to collaborate more closely in shaping the next decade of India’s infrastructure and real estate development. The future of India’s urban growth story will be rooted in such collaborations.
