As 2025 draws to a close, India’s real estate sector stands on a foundation of resilience, maturity, and renewed confidence. From premium housing and infrastructure-led residential corridors to flexible workspaces, alternative capital, and technology-driven advisory models, the industry has clearly shifted from volume-led growth to value-driven decision-making. End-user demand, institutional participation, policy stability, and evolving lifestyle preferences have collectively shaped the market’s trajectory across regions and asset classes.

Industry leaders reflect on a year marked by steady absorption, rising buyer sophistication, and expanding capital flows, while also outlining how 2026 is expected to usher in a more structured, services-led, and performance-oriented phase for Indian real estate. Their perspectives capture not just what defined 2025—but what will increasingly define the future of housing, workspaces, and real estate investment in India.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd: “India’s housing sector continued to display strong momentum through 2025, supported by healthy economic fundamentals, rising consumer confidence, and steady demand across mid-income and premium segment homes. The RBI’s cumulative 125 bps rate cut during the year, coupled with income tax relief announced in the Union Budget 2025 and GST rate rationalisation, has eased borrowing costs and strengthened market sentiment—enhancing purchasing power for homebuyers in key markets such in Delhi NCR and MMR.

The premium housing segment witnessed robust demand throughout the year, driven by evolving buyer preferences, rising disposable incomes, and growing interest from NRIs and HNIs. As highlighted in a recent ANAROCK report, nearly 42% of new housing supply in Delhi NCR was in the luxury and ultra-luxury segment, underscoring sustained appetite for high-quality, aspirational living. Among key micro-markets across Delhi NCR, Dwarka Expressway, Southern Peripheral Road, and South of Gurugram (Sohna) remained at the top of homebuyers’ preference lists, supported by rapid infrastructure development, improved connectivity, availability of larger plotted and high-rise formats, and strong potential for long-term capital appreciation.”

Ashish Jerath, President – Sales & Marketing, Smartworld Developers: “2025 has been a year of measured progress for Indian real estate, marked by a decisive shift toward end-user–driven demand and long-term value creation. In the premium segment, buyers are increasingly prioritising quality, credibility, and durability of product, leading to a clear tilt toward larger, more credible developers. In the luxury segment, branded residences benchmarked against global peers have emerged as a major trend. This aligns well with India’s growth trajectory and the rapid addition of one of the world’s largest pools of millionaires. This evolution reflects how closely Indian real estate is now aligning with international standards of design, construction, and partnerships, while remaining firmly supported by strong domestic fundamentals. Looking ahead, the premium segment will grow along infrastructure-led corridors, improving affordability for buyers in this category. Buyers will increasingly evaluate developments based on commute time and quality of life rather than physical distance in kilometres, with a growing preference for large-scale developments. On the banking and finance front, last year’s GST reduction by the government and the RBI’s rate cuts have boosted buyer confidence. We expect this sentiment to strengthen further with the next anticipated rate cut. As a developer, the coming year presents an opportunity for the industry to build with greater clarity and purpose.”

Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation: “India’s real estate sector demonstrated strong resilience throughout 2025, driven by sustained end-user demand and growing buyer confidence across key residential markets. This momentum was particularly evident in Delhi-NCR, which, according to a recent Anarock report, recorded the highest housing price growth among the top seven Indian cities during the July–September period, with prices rising by around 24% year-on-year, significantly outperforming other major markets.

The region’s strength is also visible in the luxury housing segment. According to a CBRE report, India’s residential market remained strong, with both home sales and new launches crossing 200,000 units during January–September 2025. Luxury apartment sales saw a sharp rise, growing by 97% year-on-year in the first nine months of 2025. This strong growth highlights rising buyer confidence and sustained demand for high-quality, premium homes across the region. In Gurugram, this demand has been meaningfully supported by the completion of critical infrastructure such as the Dwarka Expressway and Urban Extension Road II, which have substantially improved connectivity and accessibility.

Improved infrastructure, better connectivity, and strong end-user participation have translated into rising confidence and faster absorption for well-planned developments. Looking ahead to 2026, we expect this momentum to sustain, supported by stable buyer sentiment, a preference for ready and near-completion projects, and growing demand for thoughtfully designed, high-quality homes.”

Navin Dhanuka, Director, ArisUnitern: “2025 has been a strong and steady year for Indian real estate, driven by committed end-user demand, confident buyers, rising capital flows, and a clear move toward structured, data-based advisory. Across residential, commercial, and new asset classes, stakeholders increasingly depended on insights that helped them understand micro-market shifts, anticipate trends, and make informed investment decisions. This year reinforced that real value in real estate comes from disciplined planning, sound capital management, and transparent governance—not just from launches or transactions.

As we look toward 2026, the industry is clearly moving into a more institutional and performance-led phase. Technology adoption, sustainability, and focused asset optimisation will guide how businesses grow. We expect stronger institutional participation, sharper deployment of capital, and higher dependence on partners who bring together analytics, financial modelling, and strong on-ground execution.”

Dhaval Hemani, Co- Founder, Sarvam Properties: “2025 has been a watershed year for Mumbai’s real estate landscape. End-user demand drove the market more than speculative buying, with a clear shift toward larger, amenity-rich homes across the MMR. Micro-markets such as Thane, Wadala, Chembur, and Goregaon continued to outperform as infrastructure projects improved connectivity and expanded buyer confidence. This year demonstrated that Mumbai homebuyers are prioritising liveability, trust in developers, and long-term value strengthening the city’s overall residential stability.

2026 is expected to usher in a phase of smart, infrastructure-led growth across MMR. With the Trans Harbour Link, Metro network expansion, and new road corridors becoming operational, emerging hubs are poised for accelerated appreciation. Demand from NRIs and business families is likely to rise as buyers continue shifting from older, congested precincts to modern, spacious communities.”

Bhavesh Kothari, Founder & CEO, Property First: “2026 will be a pivotal year for India’s premium housing market as financial stability and rising disposable incomes continue to reshape buyer behaviour. Homebuyers today are far more investment-conscious—they’re prioritising financially solid developers, strong project fundamentals, and long-term asset value. With interest rates expected to remain stable and liquidity improving, we foresee accelerated demand in luxury and upper–mid segments across Bengaluru, Mumbai, and Goa.”

Adarsh Narahari, Managing Director, Primus Senior Living: “Real estate will decisively move from being a product-led business to a services-led one. Homes will no longer be defined only by location and construction quality and RE brand, but by the services, care and outcomes they enable. We are already seeing technology get embedded into homes to proactively track health, reduce risk and improve healthspan — from smart monitoring to preventive wellness infrastructure. This shift will redefine housing, especially for elders, where the focus will move from ownership to longevity, independence and quality of life.”

Abhishek Dev – Co-Founder & CEO, Epsilon Money: “2025 reinforced the importance of structured, goal-oriented financial planning as investors navigated market volatility and shifting interest-rate cycles. There was a clear move away from ad-hoc investing towards diversified portfolios backed by professional advice and long-term discipline. As we enter 2026, investor focus is expected to sharpen on personalised wealth solutions, digital advisory platforms and prudent risk management, with trust, transparency and financial education emerging as key drivers of sustainable wealth creation.”

Sijo Jose, Co-founder, SpazeOne: “In 2025, India’s commercial real estate sector demonstrated strong resilience, supported by steady occupier demand and expanding business activity. Alongside co-working, managed office solutions gained significant traction, with even traditional enterprises increasingly adopting flexible, plug-and-play formats to support hybrid work strategies. Tier-2 cities also witnessed accelerated growth, driven by cost efficiencies, improving infrastructure and talent availability. Looking ahead to 2026, the sector’s outlook remains positive, with continued demand for quality assets, flexible workplace solutions and sustainability-led development shaping the next phase of commercial real estate growth.”

Ramji Subramaniam, Managing Director, Sowparnika Projects: “The year 2025 has been a defining one for the real estate sector, especially in Bengaluru’s aspirational and mid-segment housing. We have witnessed sustained demand in micro-markets such as Hoskote, Sarjapur Road, and Whitefield, driven by strong infrastructure developments, new employment hubs and tech parks, healthy rental yields, and improved mobility. First-time homebuyers and young families continue to dominate this segment, choosing projects that combine affordability with modern, lifestyle amenities.

As we look ahead to 2026, we anticipate the mid-segment to remain the backbone of residential demand. Continuous infrastructure growth, increased digital adoption in construction, and a greater focus on sustainable, community living will further accelerate interest in this category. In other words, 2026 will continue to be a year of balancing affordability with aspiration, driving design innovation, and reiterating confidence in India’s housing story.”

Kishan Govindaraju, Executive Director, Vaishnavi Group: “The year-end is traditionally an opportune time for homebuyers to invest in property, benefiting both buyers and developers. While homebuyers gain from attractive deals, flexible payment plans, and tax advantages before the financial year closes, developers are able to accelerate sales and clear inventory to meet annual targets. The momentum that begins during the festive season continues through year-end, supported by improved buyer sentiment, bonus payouts, and rising disposable incomes. This period creates a win-win scenario — empowering buyers to make strategic investments and enabling developers to strengthen cash flows.”

Madhusudhan G, CMD, Sumadhura Group: “India’s real estate market is entering FY2026 on the back of a strong 2025, which showcased steady growth, resilient buyer confidence, and a clear shift from volume to value. Premium and luxury housing is emerging as a mainstream investment, driven by rising incomes, lifestyle aspirations, and sustained NRI participation. Bengaluru and Hyderabad exemplify this trend—Bengaluru’s tech-led economy fuels demand for spacious, future-ready homes, while Hyderabad’s infrastructure-rich western corridors attract buyers seeking connectivity and quality living. Lifestyle-led design, green spaces, and smart amenities are now benchmarks, while rising ticket sizes reflect a mature mindset prioritising durability, credibility, and long-term value.”

Mahesh Mudda, MD & CEO, NCCCL: “Through 2025, construction activity remained steady across housing and commercial segments, supported by a steady demand for premium residential and commercial spaces. The latest Knight Frank–NAREDCO Sentiment Index, with a Current Score of 59 and a Future Score of 61, points to sustained optimism among developers and investors. As 2026 approaches, project activity in major cities is expected to widen further, helped by clearer demand visibility, supportive financing conditions, and a strong pipeline of ongoing and upcoming developments.”

Amit Goenka, Chairman & Managing Director, Nisus Finance: “The year 2025 underscored how alternative capital is increasingly shaping India’s real estate and structured credit ecosystem. AIF commitments in India are rising sharply and total investments reached over INR 5.3 trillion by March 2025, up 32% year-on-year as investors diversify beyond traditional asset classes. This is a clear evidence of growing institutional and global interest in asset-backed strategies with strong governance and risk control at their core. India is also emerging as one of the fastest-advancing private credit markets in the Asia-Pacific region, with real estate private credit surging as developers seek flexible, structured financing solutions that banks and traditional lenders are unable to provide.”

Sunil Maddala, CEO & Saransh Narula, CFO, FuelBuddy: “In FY2025, fuel-dependent operations across sectors began reassessing what efficiency really means. The focus shifted from confirming fuel delivery to ensuring complete accountability at the litre level. That transition marked a broader push toward managing variance, turnaround times, and on-ground control rather than treating fuel as a simple input. The past year also made it clear that small inefficiencies — even a 1–2% discrepancy in fuel handling — can escalate into meaningful operational and financial exposure when repeated across sites and time periods. This realisation has prompted leadership teams to scrutinise fuel data and processes far more closely. Looking ahead to 2026, priorities are becoming increasingly defined: tighter reconciliation mechanisms, more predictable delivery cycles, reduced manual dependency, and real-time visibility into current operations instead of retrospective reporting.”

Akshay Mittal, Promoter, Mittal Builders: “As India looks ahead to 2026, the housing market is showing signs of more balance and stability. Buying decisions are being driven by end-user requirements and clear income visibility, alongside a growing preference for formal, well-regulated housing. Policy and interest-rate stability also remain important contributors to this landscape. Industry estimates point to steady growth over the next few years, with the market’s strength being reflected in the close alignment between demand patterns and housing supply.

At a local level, market behaviour varies across micro-markets. Established neighbourhoods such as Matunga continue to be led by long-term end users, where familiarity, social infrastructure, and permanence shape demand and show the importance of housing quality and liveability. In contrast, emerging corridors like Naigaon illustrate how fresh supply and improving connectivity are widening access to homeownership and creating new entry points for buyers.”

Paul Daniel Salnikoff, Managing Director and Chief Executive Officer, Executive Centre India Limited: “2025 marked a pivotal moment for India’s corporate real estate market, as flexible workspaces emerged as a core enabler of enterprise growth. Demand accelerated as enterprises and GCCs prioritised agility, speed to market and scalability over long-term commitments, firmly positioning India as one of the fastest-growing flex markets in Asia-Pacific. A defining trend was the concurrent rise of GCCs and premium flexible workspaces. India’s deep talent pool, combined with a mature and cost-efficient workspace ecosystem, elevated flex from a tactical solution to a strategic advantage, enabling global organisations to scale with confidence. Importantly, 2025 underscored that the future of work is centred on people, not just space. As flexible models became embedded, organisations increasingly valued design, open spaces and wellbeing as drivers of productivity and retention. With heightened focus on psychosocial safety and the ‘right to disconnect’, employee wellbeing has become a business imperative.”

Pawan Kumar Agarwal, Managing Director of NK Realtors: “Despite‍‌‍‍‌‍‌‍‍‌ the recalibration, India’s real estate sector remained largely resilient in 2025. Residential sales fell 12% YoY to 202,756 units but premium housing grew 4% YoY and captured a dominant 62% market share, driven by HNIs, NRIs, and strong launches in tech hubs like Bengaluru and Chennai. Overall, the momentum was supported by steady new supply, rising institutional capital flows, and a rebound in office leasing, while challenges such as regulatory delays, high-interest rates, execution gaps, and sustainability costs continued to exist. Coimbatore, a Tier-2 city, was among those that became value leaders.

The sentiment going into 2026 is still positive. The residential sector is likely to command ~70% market share with price growth of around 7.5%, facilitated by RBI rate cuts, office, and logistics leasing, and a nearly 40% increase in data-centre capacity driven by robust digital demand. More institutional participation, stronger REIT activity, and developer discipline will make 2026 a year of gradual but widespread growth across India’s main micro ‍‌‍‍‌‍‌‍‍‌markets.”