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India's real estate market is projected to more than triple to INR 88 lakh crore by 2030 from about INR 26.4 lakh crore in 2025, according to a joint report by KPMG in India and realtors body Naredco. The report, titled The role of real estate in ViksitBharat@2047, highlights the sector's critical role in supporting India's ambition of becoming a developed economy by 2047. It estimates that the market could expand further to INR 440.5-616.7 lakh crore by 2047 as urbanisation accelerates and economic activity deepens. The study also projects employment in the sector to rise to nearly 100 million by 2030, up from around 70 million currently, underlining real estate's growing contribution to economic growth and job creation.
India's real estate market is expected to witness robust expansion over the next decade, with its size projected to reach INR 88 lakh crore by 2030, marking a more than three-fold increase from its estimated value in 2025, according to a joint report by KPMG in India and realtors apex body Naredco. Advertisement
The report, titled The role of real estate in ViksitBharat@2047, outlines the sector's pivotal contribution to India's long-term economic aspirations. It estimates that the Indian real estate market is currently valued at around INR 26.4 lakh crore in 2025 and is poised for significant growth over the next five years.
India has set an ambitious target to become a fully developed economy by 2047, and real estate is not just about buildings; it is the backbone that makes this vision achievable, the report noted. It emphasised that the sector acts as a key execution lever in driving economic expansion, urban transformation and infrastructure development.
Looking further ahead, the report projects that the real estate market could expand to between INR 440.5 lakh crore and INR 616.7 lakh crore by 2047. This growth trajectory will be supported by rapid urbanisation, expansion of India's economic base and increasing demand for residential, commercial and infrastructure assets.
Neeraj Bansal, Partner and Head India Global at KPMG in India, said the sector's growth will be closely linked to the country's urban footprint and overall economic deepening. As cities expand and new economic hubs emerge, demand for housing, offices, retail spaces and logistics infrastructure is expected to rise substantially.
Naredco President Parveen Jain highlighted the broader developmental impact of the sector. Real estate is where national ambition becomes real, through homes that anchor dignity, workplaces that power productivity and infrastructure that enables mobility and opportunity. In that sense, the sector is not only shaping assets, but also outcomes,he said.
Beyond its contribution to GDP, the report underscores real estate's significant employment potential. The number of jobs in the sector is projected to approach 100 million by 2030, up from an estimated 70 million currently across construction, sales, design and allied industries.
The findings reinforce the view that real estate will remain a cornerstone of India's economic growth strategy, playing a central role in achieving the country's long-term development vision under Viksit Bharat 2047.
Source - PTI
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