India's residential real estate in 2025 showed consolidation rather than exuberance, with developers exhibiting balance-sheet discipline. Despite an overall 13% year-on-year decline in housing sales in H1 2025, demand for homes priced at Rs 1 crore and above remained resilient, with significant growth in the Rs 3-5 crore and above Rs 5 crore segments. Bengaluru, Mumbai, Pune, and Delhi-NCR led sales, with Gurugram dominating the luxury market due to infrastructure development.