India’s real estate sector is poised for a sharp expansion over the next five years, with the market projected to grow more than three-fold to Rs 88 lakh crore by 2030, according to a joint report released by KPMG and Naredco.
The report, titled The Role of Real Estate in Viksit Bharat@2047, positions the sector as a central pillar in India’s long-term economic transformation.
Real Estate Market to Triple by 2030
According to the findings, the Indian real estate market is currently valued at around Rs 26.4 trillion in 2025. It is expected to expand significantly to approximately Rs 88 trillion by 2030, reflecting strong growth momentum across residential, commercial, and infrastructure segments.The report underscores that as India targets becoming a fully developed economy by 2047, real estate will serve as one of the most important execution levers to achieve this ambition.
“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 foundation that makes this vision achievable,” the report stated.
Long-Term Outlook: Rs 440–616 Trillion by 2047
Looking further ahead, the sector’s scale could increase substantially over the next two decades.Neeraj Bansal, Partner and Head – India Global at KPMG in India, said the market is projected to expand to between Rs 440.5 trillion and Rs 616.7 trillion by 2047. This growth is expected to be driven by a deeper urban footprint and the continued expansion of India’s economic base.
The projections highlight the strategic importance of urbanisation and infrastructure development in shaping India’s long-term growth trajectory.
Real Estate as a Foundation for National Development
The report emphasises that real estate plays a broader developmental role beyond asset creation. It connects housing, workplaces, and infrastructure with national progress and productivity.Parveen Jain, President of Naredco, said that real estate translates national ambition into tangible outcomes by creating homes that support dignity, workplaces that enhance productivity, and infrastructure that enables mobility and opportunity.
In this context, the sector is positioned not merely as a contributor to GDP, but as an enabler of socio-economic transformation.
Employment to Near 100 Million by 2030
The growth outlook also carries significant implications for employment.According to the report, jobs in the real estate sector could approach 100 million by 2030, up from the current estimated 70 million. These roles span construction, sales, design, and related industries.
The projected employment expansion reinforces the sector’s role as one of the largest job creators in the country, aligning with India’s broader economic development objectives under the Viksit Bharat vision.
As India advances toward its 2047 target, the real estate sector is set to play a defining role in shaping urban infrastructure, economic capacity, and large-scale employment generation.
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