The Indian real estate market is on an impressive trajectory. Currently valued at about ₹26.4 trillion, it’s expected to leap to ₹88 trillion by 2030, according to a recent report from KPMG and Naredco. This increasing value signals not just growth, but a vital shift in urban development and housing needs across the nation.
Neeraj Bansal from KPMG predicts that by 2047, the market could soar to between ₹440.5 trillion and ₹616.7 trillion. This expansion is closely linked to India’s urbanization and economic growth. As Bansal puts it, real estate translates national ambitions into tangible outcomes, providing homes and workplaces that foster dignity and productivity.
Moreover, the sector is projected to create around 100 million jobs by 2030, up from approximately 70 million today. This jobs growth stems from various fields, including construction, sales, and design, playing a crucial role in India’s economy.
A key factor in managing this rapid growth is technology. Kuldip Narayan from the Ministry of Housing and Urban Affairs (MoHUA) emphasized the need for an AI-driven approach to real estate regulation. As India’s urban population is expected to rise from 500 million to around 800 million by 2050, smart urban planning becomes essential.
He highlighted that more than half of the required housing by 2050 is yet to be constructed. Thus, a seamless integration of urban planning, housing, and transportation is crucial for sustainable urban development.
By preparing for these changes, India can meet its future housing needs while creating resilient and efficient cities. In a world where rapid urbanization is the norm, leveraging technology and smart policies will be pivotal for India’s real estate landscape.
To dive deeper into the current state of India’s real estate sector, check out the report from KPMG and Naredco here.
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