India's Real Estate Sector Poised to Create Nearly 100 Million Jobs by 2030
NEW DELHI: Employment in India’s real estate sector could rise to nearly 100 million by 2030 from an estimated 70 million at present, according to a joint report by KPMG and NAREDCO.
The report highlights that the current job base spans a wide range of industries, including construction, sales, design, and allied sectors. Each new real estate project creates demand across a broad supply chain, encompassing materials like cement, steel, bricks, paint, glass, fittings, logistics, and various services.
The study estimates India’s real estate market to be around ₹26.4 trillion currently and projects it to grow to approximately ₹88 trillion by 2030. This significant growth is expected to boost the sector’s share in GDP from about 7-8% in 2025 to 12-15% by 2047. Several factors are driving this expansion, including urbanization, regulatory reforms, digital systems, green building practices, and supportive policy measures.
Neeraj Bansal, partner and head of India Global at KPMG in India, notes that urbanization is projected to increase by about 50% to reach 900 million by 2047. This growth will drive the demand for smarter infrastructure and support overall GDP growth.
The real estate sector's growth is not just about numbers; it is also about transforming the way cities are built and managed. Green building practices and digital systems are becoming increasingly important, ensuring that the sector's expansion is sustainable and efficient.
The report also emphasizes the role of regulatory reforms in fostering a conducive environment for real estate development. Streamlined processes, transparent policies, and the adoption of modern technologies are key to achieving the projected growth.
In conclusion, the real estate sector in India is poised for a significant transformation, with the potential to create millions of jobs and contribute substantially to the country's economic growth. The synergy between urbanization, policy support, and technological advancements is expected to drive this sector to new heights.
