Real Estate Jobs in India Set to Reach 100 Million by 2030: KPMG and NAREDCO Report
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 construction, sales, design, and allied industries, and each new real estate project creates demand across a wide supply chain including cement, steel, bricks, paint, glass, fittings, logistics, and a range of services.
The study estimates India’s real estate market at about ₹26.4 trillion currently and projects it to grow to around ₹88 trillion by 2030. It also expects the sector’s share in GDP to rise to 12-15% by 2047 from about 7-8% in 2025, supported by urbanisation, regulatory reforms, digital systems, green building practices, and policy measures.
Neeraj Bansal, partner and head – India Global, KPMG in India, said urbanisation is expected to increase by about 50% to reach 900 million by 2047. This will drive demand for smarter infrastructure and support GDP growth. The report emphasizes the need for skilled professionals and the adoption of advanced technologies to meet the growing demand in the sector.
The real estate industry in India has been witnessing significant changes over the past few years, with the introduction of several regulatory reforms such as the Real Estate (Regulation and Development) Act (RERA) and the Goods and Services Tax (GST). These reforms have brought more transparency and accountability to the sector, making it more attractive for investors and consumers.
Moreover, the push towards green building practices is expected to create new opportunities in the sector. The report suggests that sustainable and eco-friendly construction methods will not only reduce the environmental impact but also enhance the quality of life for residents. This shift towards sustainability is expected to create a new wave of jobs in areas such as green building design, energy efficiency, and waste management.
The report also highlights the importance of digital systems in the real estate sector. With the increasing adoption of technology, the industry is expected to become more efficient and customer-centric. Digital platforms for property listings, virtual tours, and online transactions are becoming more common, making the buying and selling process more convenient and transparent.
In conclusion, the real estate sector in India is poised for significant growth over the next decade. The combination of urbanisation, regulatory reforms, digital systems, and green building practices will not only drive job creation but also contribute to the overall economic development of the country. As the sector continues to evolve, it will be crucial for stakeholders to adapt to these changes and leverage the opportunities they present.
