This paper aims to examine whether air pollution has a significant impact on residential housing prices in Indian metropolitan cities, which include NCR, Mumbai, Kolkata, Bangalore, and Chennai. The data for both variables is from 2017 to the beginning of 2025. It uses secondary data from the Housing Price Index (HPI) and the Central Pollution Control Board (CPCB). This paper is purely a quantitative analysis, and compares the trends of PM2.5, PM10, NO₂, and Ozone, with the movements of the housing prices. The findings reveal that there is no direct correlation between the air quality and housing prices across the selected cities. However, factors such as infrastructural and connectivity development, employment opportunities, migration, etc., are found to play a significant role in the housing prices to experience an upward trend. The dependence on mainly two indices limits the scope of the study; however, it also highlights an important implication. Pollution does not affect the valuation of residential complexes. Therefore, there is little to no incentive for sustainable urban development. Measures like Government intervention, inclusion of social/environmental costs in the real estate business, could encourage eco-friendly and greener housing practices.