In Gujarat, the housing finance sector has seen a decline in borrowers, with only 1.01 lakh individuals taking out loans in Q1 FY 2025, down from 1.5 lakh in the same period last year; however, the total amount disbursed surged by 62% to Rs 13,433 crore. This trend indicates a shift toward larger loan amounts, likely driven by increased demand for luxury housing, as lower-income segments are more adversely affected by rising interest rates. Meanwhile, India's top 21 listed real estate developers reported combined sales of approximately Rs 35,000 crore in Q1 FY 2025, with robust demand for residential properties, particularly luxury homes. Concurrently, education loan disbursals in Gujarat rose by 28%, reflecting a surge in applicants seeking foreign education, attributed to rising fees and improved visa processing. Raymond Group's MD Gautam Singhania expressed caution regarding potential declines in South Mumbai real estate prices, influenced by new supply and infrastructure developments. Overall, while some sectors face challenges, others like luxury housing and education continue to thrive amidst changing economic conditions.