India's Real Estate Set to Soar to US$ 10 Trillion by 2047, Driven by Tier-II Cities
India’s real estate industry is on the brink of a generational transformation, set to grow nearly 20-fold from USD 0.3 trillion today to between USD 5 trillion and USD 10 trillion by 2047, according to a new report by Colliers and the Confederation of Indian Industry (CII). The sector’s contribution to GDP is projected to rise to as much as 20% as it becomes a key pillar in India’s “Viksit Bharat” vision under the Amrit Kaal roadmap.
The report, titled “Real Estate @2047: Building India’s Future Growth Corridors,” outlines how demographic shifts, policy reforms, rapid urbanization, and infrastructure expansion are reshaping India’s urban landscape. Released at the 21st CII Realty 2025 conference in New Delhi, the study forecasts annual office demand to stabilize between 70–75 million sq ft, while industrial and warehousing demand could reach 30–40 million sq ft in the coming years.
“Infrastructure expansion is unlocking new growth corridors and transforming Tier-II and III cities,” said Harleen Kaur, Deputy Secretary, Ministry of Road Transport and Highways. “Expressways and industrial corridors are enhancing connectivity, creating viable economic hotspots, and fuelling urban development.”
Colliers–CII predicts that India’s urbanization rate will rise sharply, with nearly 40% of the population living in cities within a few years. This shift will drive demand for world-class housing, logistics hubs, and sustainable urban ecosystems.
“India’s real estate journey towards 2047 will be powered by tech adoption and inclusive growth,” noted Pradeep Aggarwal, Chairman of Signature Global India. “Policy initiatives like RERA, PMAY, and infrastructure status for affordable housing have strengthened transparency and financing.”
According to Ashwinder R Singh, Chairman of CII’s Northern Region Real Estate Committee, Tier-II hubs such as Kochi, Lucknow, Chandigarh, and Thiruvananthapuram are fast emerging as growth engines for the next phase of India’s real estate story.
The report also foresees strong growth in alternative asset classes—including data centres, senior living, co-living, and student housing—alongside traditional sectors like residential, office, and industrial spaces. These new verticals will define the sector’s maturity and create sustainable investment opportunities.
“As nearly 100 million-plus cities rise, real estate corridors will evolve into inclusive, resilient, and tech-driven ecosystems,” said Badal Yagnik, CEO & MD, Colliers India.
With sustainability and digital infrastructure emerging as twin pillars of progress, India’s real estate is poised not just for scale—but for smarter, greener, and more inclusive growth through 2047.
