The Indian real estate sector is poised for remarkable growth, with projections indicating that its market value will leap to ₹88 lakh crore by 2030. This significant increase, more than three times the current valuation, emerges from a comprehensive report jointly released by KPMG and the National Real Estate Development Council (Naredco). The report, titled 'The Role of Real Estate in Viksit Bharat@2047', underscores the pivotal role that the real estate sector will play in India's ambitious goal of becoming a fully developed economy by the year 2047.
According to the report, the current valuation of India's real estate market stands at approximately ₹26.4 trillion in 2025. It is expected to experience substantial growth, reflecting the increasing demand for residential and commercial spaces as urbanization accelerates. Neeraj Bansal, Partner and Head - India Global at KPMG, emphasized that the market could expand to between ₹440.5 trillion and ₹616.7 trillion by 2047. This growth trajectory highlights the sector's integral role in shaping the urban landscape and facilitating economic development in the country.
The report also highlights that real estate is not merely about constructing buildings; it serves as the backbone of India’s economic aspirations. Parveen Jain, President of Naredco, articulated that the real estate sector is where national ambitions materialize through the provision of homes that promote dignity, workplaces that enhance productivity, and infrastructure that fosters mobility and opportunity. This multifaceted impact underscores the sector's vital contribution to both asset creation and societal outcomes.
Moreover, the sector's expansion is expected to generate a significant number of jobs, with estimates suggesting that employment in real estate could reach approximately 100 million by 2030. This marks an increase from the current estimate of 70 million jobs across various segments, including construction, sales, and design. As the country moves towards its goal for 2047, the real estate sector will not only drive economic growth but also play a crucial role in improving living standards and employment opportunities for millions of Indians.