India's Real Estate Sector Set to Become a $10 Trillion Market
India's real estate sector is projected to grow exponentially, reaching a $10 trillion market by 2047, driven by six key growth levers: rapid urbanization, infrastructure development, digitalization, demographic shifts, sustainability, and investment diversification. As the country nears its centenary year of independence, real estate is set to contribute 14-20% to India's GDP, positioning it as a pivotal player in the nation’s economic trajectory.
According to the “Indian Real Estate: The Quantum Leap” report by Colliers and CREDAI, released at the CREDAI NATCON event in Sydney, both core segments like office and residential real estate and alternative segments such as data centers and senior living are expected to grow significantly. The sector will also see increased market consolidation, institutionalization, and fair pricing, particularly in industrial and warehousing assets. These advancements will create new real estate hotspots and boost India's economic growth over the next few decades.
“With the interplay of dynamic factors such as rapid urbanization, rising median age, and technological advancements, we are on the brink of a quantum leap, entering a new era of growth and diversification. By 2047, an estimated 50% of India’s population will reside in urban centers, creating unprecedented demand across residential, office, and retail spaces. Alternative segments like senior living, co-living, and data centers will also witness exponential growth, driven by evolving consumer preferences and technological integration, with a focus on sustainability and energy efficiency becoming a standard across developments. As India navigates this exciting trajectory, the real estate sector will continue to attract institutional investments, fostering transparency, fair pricing, and global competitiveness. Being a leading industry body, CREDAI looks forward to working with various stakeholders to ensure that Indian real estate witnesses sustained and sustainable growth in the decades to come,” said Boman Irani, President, CREDAI National.
