India's Real Estate Sector Poised for $10 Trillion Leap by 2047: Colliers–CII Report
India’s real estate sector is gearing up for a once-in-a-generation transformation, with market size projected to expand nearly 20X over the next two decades — from around USD 300 billion currently to USD 5–10 trillion by 2047. According to a newly released Colliers–CII report, this growth trajectory could elevate real estate’s contribution to India’s GDP from about 7% now to 14–20% by the time the country marks 100 years of independence.
The report, titled “Real Estate @2047: Building India’s Future Growth Corridors”, was unveiled at CII Realty 2025 in New Delhi, outlining how a combination of infrastructure expansion, demographic strength, digital transformation, and sustainability mandates will unlock new urban development corridors across the country — especially in Tier II and III cities.
Infrastructure-led growth momentum
Government-led modernisation of transport and connectivity is expected to play a pivotal role in reshaping land use and fueling commercial viability across previously untapped locations. “Expressways and industrial corridors are opening up new real estate hotspots and redefining urban form,” said Harleen Kaur, Deputy Secretary, Ministry of Road Transport and Highways. “Real estate and infrastructure will increasingly reinforce each other as India moves towards a multi-trillion-dollar economy.”
Residential market to double by 2047
Urbanisation — with 40% of Indians expected to live in cities in the coming years — is set to push housing demand sharply upward. Annual residential sales may rise from 0.5 million units in 2030 to 1 million units by 2047. First-time homebuyers will dominate purchases, backed by peak earning ages of 30-40 years, rising middle-class aspirations, and policy reforms such as PMAY, RERA, infrastructure status for affordable housing, and the SWAMIH fund. Alongside affordable homes, niche categories — luxury, villas, plotted developments, wellness living, and senior/co-living — are expected to thrive. Redevelopment in major metros such as Mumbai, NCR, and Bengaluru will also unlock significant supply rejuvenation.
Office and warehousing asset classes maturing fast
India’s office market is expected to stabilise at 70–75 million sq ft of gross leasing annually, with GCCs (Global Capability Centers) driving 40–50% of Grade A demand. Flexible workspaces could contribute up to 25% of leasing in the near term as occupiers decentralise across emerging cities such as Indore, Kochi, Bhubaneswar, and Coimbatore. The industrial & warehousing sector — lifted by logistics corridors, manufacturing push, and e-commerce — will see an annual requirement of 30–40 million sq ft, with Grade A capacity projected to exceed 0.5 billion sq ft by 2030 and potentially reach 2 billion sq ft by 2047.
Retail shifts to experience-driven formats
India may house 1,000 malls by 2030 and 1,500+ by 2047, with consumption-led growth increasingly visible in Tier II/III demand centers like Ahmedabad, Jaipur, Guwahati, and Coimbatore. Institutional investment and retail REITs are expected to bring greater formality into the sector.
Alternative assets to see explosive growth
Segments currently in their infancy will drive the next horizon of investment. India’s data center capacity alone is projected to rise from today’s levels to ~4.5 GW by 2030 and nearly 10 GW by 2047, powered by AI adoption, 5G expansion, cloud computing, and green electricity integration. “Alternative assets will contribute meaningfully as investors seek diversification and higher risk-adjusted returns,” said Badal Yagnik, CEO & MD, Colliers India.
The rise of 100+ million-plus cities
The report estimates that India could have nearly 100 cities with a population of over one million by 2047. These urban clusters will distribute economic activity more evenly, reduce pressure on primary metros, and create new real estate micro-markets across all segments. “Tier II cities like Chandigarh, Lucknow, Kochi, and Thiruvananthapuram are emerging as strong housing and commercial destinations,” said Ashwinder R Singh, Chairman, CII NR Committee on Real Estate.
A 20X growth blueprint for Amrit Kaal
With strong policy reforms and global investor confidence, India’s real estate is set to become a key GDP engine, a major employment generator, a magnet for institutional capital, and a sustainability-aligned sector. Overall, the $ 5–10 trillion opportunity by 2047 reinforces real estate’s pivotal role in shaping Viksit Bharat — an advanced, inclusive, and future-ready India.
