India's Real Estate Market Poised to Reach ₹88 Lakh Crore by 2030, Creating 100 Million Jobs
India’s real estate sector is projected to witness strong expansion over the next five years, with the overall market size expected to more than triple by 2030, according to a joint report by KPMG and the National Real Estate Development Council (NAREDCO).
The report estimates the sector’s value at around ₹26.4 lakh crore in 2025 and projects it to reach nearly ₹88 lakh crore by 2030. The growth is expected to be driven by rapid urbanisation, large-scale infrastructure development, regulatory reforms, and sustained demand across residential, commercial, and industrial segments.
Sector likely to become a major employment generator
Alongside the increase in market size, the report indicates that real estate could emerge as one of the country’s largest employment generators. Total employment across the sector and its allied industries is expected to rise to nearly 100 million by 2030, compared to around 70 million at present. The sector has a strong multiplier effect on the broader economy. Every new real estate project drives demand across multiple industries, including cement, steel, construction materials, logistics, financial services, design, and professional consulting.
Urbanisation to fuel long-term demand
India’s urban population is expected to expand significantly over the coming decades, providing a strong foundation for real estate growth. The report notes that urbanisation levels could rise sharply, with the urban population projected to reach around 900 million by 2047. This demographic shift is expected to create sustained demand for housing, commercial spaces, logistics infrastructure, and mixed-use developments, particularly in emerging urban corridors and peripheral growth zones.
Rising contribution to GDP
The real estate sector’s contribution to India’s GDP is also expected to increase steadily. From an estimated 7–8% share currently, the sector could account for 12–15% of GDP by 2047, supported by policy initiatives, digital adoption, green building practices, and increased institutional participation. Industry observers note that the sector’s expansion will be closely linked to infrastructure development, manufacturing growth, and the government’s long-term economic vision.
Outlook
With strong demographic fundamentals, ongoing infrastructure investments, and policy support, real estate is expected to remain a key driver of India’s economic growth over the next decade. The projected rise in market size and employment underscores the sector’s growing role in shaping the country’s urban and economic landscape.
