India's Real Estate Market Poised for Explosive Growth, Set to Reach $10 Trillion by 2047
The Indian real estate market is expected to play a crucial role in the country's economic growth, with a projected value of $10 trillion by 2047.
Indian Real Estate MarketCredaiColliersReal Estate Growth10 Trillion MarketReal Estate NewsSep 23, 2024
The report highlights that the real estate market will evolve and proliferate over the next few decades, with various segments growing and maturing at different rates. Core assets such as office and residential real estate are likely to mature further, while alternative assets like data centres and senior living will experience strong growth trajectories.
Market consolidation, fair pricing, and institutionalisation will become more prevalent across asset classes, particularly in the industrial and warehousing segment. The report also notes that shifting demographic patterns in India, with the median age increasing from 30 to 40 years by 2050, will lead to rapid urbanisation and create dispersed growth centres in smaller towns and cities.
Frequently Asked Questions
What is the projected value of the Indian real estate market by 2047?
$10 trillion
What are the key drivers of growth in the Indian real estate market?
Demographic changes, urbanisation, government initiatives, and technological advancements
Which segments of the real estate market are expected to mature significantly in the next few decades?
Residential, office, and retail segments
What is the impact of government initiatives on the real estate market?
Enhanced transparency, improved investor confidence, and streamlined operations
What is the role of technology in the Indian real estate sector?
Digitalisation, PropTech, and Metaverse will play a major role in elevating Indian real estate to global standards of operational efficiency, transparency, and accountability
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