India's Real Estate Market Projected to Reach $10 Trillion by 2047: A Comprehensive Analysis

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Gurugram:

India's real estate sector is poised for an unprecedented transformative journey, with projections indicating growth from approximately $0.3 trillion currently to an impressive $5-10 trillion market by 2047, according to a Colliers-CII report published on Thursday.

This remarkable expansion establishes real estate as a fundamental pillar of India's economic growth, potentially accounting for 14-20 percent of the nation's GDP by 2047.

The report, "Real Estate @2047: Building India's Future Growth Corridors," outlines immediate trends and comprehensive growth patterns across core segments including residential, office, retail, and industrial & warehousing, along with emerging alternative asset classes such as senior living, co-living, and data centers.

These trends are primarily fueled by government-led reforms, policy initiatives, and structural demand drivers including rapid urbanization, demographic shifts, infrastructure enhancement, technology-driven innovation, and sustainability priorities. These growth catalysts are creating a multiplier effect, stimulating employment and demand across real estate asset classes, attracting institutional capital, and developing new growth corridors throughout the country.

The residential segment within the real estate sector is anticipated to experience the most significant impact from accelerating urbanization and evolving demographics, particularly in affordable housing, senior living, and co-living spaces. Commercial and industrial segments are expected to benefit from improved infrastructure connectivity, digitalization, and green mandates, supporting the decentralization of office hubs and manufacturing clusters across Tier II & III cities. Simultaneously, technological advancements, especially in artificial intelligence, will drive the expansion of data centers and smart city infrastructure.

During the CII event, Harleen Kaur, Deputy Secretary of the Union Ministry of Road Transport and Highways, stated: "India's infrastructure expansion is reshaping the real estate landscape, unlocking new growth corridors and transforming Tier II & III cities. Real estate and infrastructure are two vital sectors which will reinforce each other. Expressways and industrial corridors will increasingly enhance connectivity-transforming land usage in catchment areas, accelerating urban development, and creating commercially viable economic hotspots."