India's Real Estate Market Set to Soar to Rs 88 Lakh Crore by 2030
India’s real estate market is on a trajectory to reach a staggering Rs 88 trillion by 2030, more than three times its estimated size in 2025, according to a joint report by KPMG and Naredco. The report, titled ‘The role of real estate in ViksitBharat@2047’, estimates the sector’s current value at around Rs 26.4 trillion in 2025.
The market is expected to further scale up to Rs 440.5–616.7 trillion by 2047 as India’s urbanisation and economic base deepen. This ambitious target aligns with India’s vision to become a fully developed economy by 2047, with the real estate sector playing a crucial role in achieving this goal.
“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 backbone that makes this vision achievable,” the report noted. Neeraj Bansal, Partner and Head – India Global, KPMG in India, highlighted that the sector’s growth will reflect expanding urban footprints and rising economic activity.
Parveen Jain, President of Naredco, emphasized the multifaceted impact of the real estate sector. “Real estate is where national ambition becomes real, through homes that anchor dignity, workplaces that power productivity, and infrastructure that enables mobility and opportunity.”
The report also projects a significant rise in employment within the sector, with job opportunities expected to increase to nearly 100 million by 2030, up from around 70 million currently across construction, sales, design, and allied industries. This growth is not only a reflection of the sector’s expanding economic footprint but also its potential to create a substantial number of jobs and contribute to the overall economic development of the country.
The real estate market’s growth is driven by several factors, including increasing urbanisation, rising disposable incomes, and a growing demand for housing and commercial spaces. The government’s initiatives, such as the Pradhan Mantri Awas Yojana (PMAY) and the Smart Cities Mission, are also playing a pivotal role in boosting the sector’s development.
As India continues to urbanize, the demand for quality housing and infrastructure is expected to rise, further fueling the growth of the real estate market. The sector’s expansion will not only benefit the economy but also enhance the quality of life for millions of Indians, making the vision of a developed and prosperous India a tangible reality.
