To be honest, I have never expected Mi phones to be so good. Its just like hot cake which you got for free. Well, my experience is too awesome. I am going to list some pros and cons.
Pros:
1) Build Quality is magnificent, feels so great in hand.
2) The display is very bright; there isnt any problem with the bright sunlight.
3) Camera, Dual Camera with the telephoto lens which captures pictures similar to DSLR in the Portrait mode.
4) Gaming experience is awesome with no lags, i.e., after playing high-end games like PES, NFS No Limits, and Shadow Fight 3.
5) Music is another factor in which it shines. The 3.5mm jack of this phone has got the best audio output.
6) Timely updates for every month.
Cons:
1) Lack of Selfie Flash.
2) Fast Charging is not enabled, but it doesnt have much effect.
3) 3080 mAh battery lasts almost for 6 hours to 6 hours 30 minutes with the screen turned on.
4) FM radio is disabled on this phone.
5) The highest temperature I have seen is 37.5°C via CPU-Z app.
Overall Review: You wont find a better phone than this in this price range. At ₹14, 999, it is the best you can get and also it gives competition to high budget smartphones.