India’s real estate sector could more than triple in size by the end of this decade, emerging as a central pillar in the country’s long-term economic transformation, according to a joint industry report released by KPMG in India and National Real Estate Development Council.
The report, titled The Role of Real Estate in ViksitBharat@2047, projects that the Indian real estate market will expand to approximately Rs 88 lakh crore (₹88 trillion) by 2030, up from an estimated Rs 26.4 trillion in 2025. The anticipated three-fold expansion reflects accelerating urbanisation, infrastructure upgrades and rising demand for formal housing and commercial assets. Beyond headline growth, the findings position real estate as a structural enabler of India’s ambition to become a fully developed economy by 2047. As cities expand and economic clusters deepen, land development, housing supply and workplace infrastructure are expected to act as force multipliers for productivity and job creation. The report estimates that by 2047, the sector’s value could range between Rs 440.5 trillion and Rs 616.7 trillion, underscoring the scale at which urban India is expected to evolve. This expansion is closely tied to demographic momentum: India continues to add millions to its urban population annually, intensifying demand for residential, retail, logistics and office spaces. Employment generation is projected to mirror this growth trajectory. The real estate ecosystem spanning construction, design, engineering, brokerage and allied industries could support nearly 100 million jobs by 2030, up from around 70 million currently. This positions the sector as one of the largest non-agricultural employment generators in the country.
From an urban development perspective, the projected growth comes at a time when policymakers are emphasising transit-oriented development, affordable housing expansion and climate-resilient infrastructure. Large-scale public investments in metro rail networks, highways and industrial corridors are reshaping land values and opening new development frontiers beyond traditional city cores. Industry leaders cited in the report stress that real estate is not merely about asset creation but about enabling broader economic outcomes from housing security and workplace productivity to mobility and access to opportunity. However, sustaining the projected expansion will require streamlined regulatory approvals, deeper capital markets participation and continued financial discipline among developers. Analysts note that while demand fundamentals remain strong, the sector’s long-term growth will depend on balanced supply pipelines, improved construction efficiency and integration of sustainable building practices. As climate risks intensify and urban densities rise, green-certified projects and resilient infrastructure will likely command a premium.
If the projections materialise, real estate will not only reflect India’s economic rise but actively shape it translating macroeconomic ambition into tangible urban transformation across housing, infrastructure and commercial development.
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Indian real estate market set to triple to Rs 88 lakh crore by 2030
