Urbanization: A Catalyst for Sustainable Growth in India's Real Estate Sector
At the ASSOCHAM Real Estate Conference 2025, experts highlighted the critical role of urbanization in driving economic growth and improving the quality of life in Indian cities.
UrbanizationReal EstateEconomic GrowthSustainable DevelopmentInfrastructureReal EstateJul 12, 2025
India’s urban population is projected to grow to approximately 88 crore by 2047 under the Viksit Bharat vision, he noted, highlighting the urgency of forward-thinking urban development. He underscored that real estate currently contributes around 13% to the Indian economy, with the affordable housing and development sector growing at nearly 10%, making it one of the most impactful engines of national growth.
Urbanization is not a challenge but an opportunity to transform our cities into vibrant, sustainable hubs of growth, Mr. Mishra asserted. By embracing progressive urban planning and infrastructure innovation, we can create environments that not only elevate the quality of life for millions but also steer the nation towards a more prosperous and resilient future.
Speaking at the conference, Mr. Gurjeet Singh Dhillon, Director (AMRUT), Ministry of Housing & Urban Affairs, Government of India, elaborated on the transformational goals of the AMRUT mission. The AMRUT mission’s priority has always been to bring transformative change in urban infrastructure, grounded in sustainability, inclusivity, and long-term service delivery. We are not merely building infrastructure; we are enabling cities to become engines of economic growth and social equity. Through strategic interventions in water supply, sanitation, green spaces, and mobility, the mission aims to improve the quality of life for all urban residents, especially the underserved. Our emphasis on capacity building, data-driven governance, and convergence with other urban initiatives like Smart Cities, Swachh Bharat, and PMAY ensures that development is both holistic and impactful. The next phase of AMRUT continues this vision, pushing boundaries with climate-resilient planning, increased private sector participation, and a sharp focus on efficiency, transparency, and citizen-centric governance.
Dr. Anna Roy, Principal Economic Adviser (DMA/Urban/R&N), NITI Aayog, shared a future-focused perspective during her special address. From enabling robust digital public infrastructure to promoting green transitions and urban innovation, our aim is to ensure holistic economic progress. Initiatives like Transit-Oriented Development (TOD), municipal finance reforms, and capacity building at the grassroots level are crucial for creating sustainable, liveable urban ecosystems. As we move ahead, the focus remains on aligning development with sustainability, encouraging private sector participation, and nurturing an economic environment that is agile, equitable, and globally competitive.
In his opening remarks, Mr. Pradeep Kumar Aggarwal, Chairman, National Council on Real Estate, Housing and Urban Development, ASSOCHAM & Chairman, Signature Global (India) Ltd., highlighted the sector’s growing importance: India’s real estate sector is going to provide employment to lakhs of people in both the formal and informal sectors. Along with this, the sector has become a major enabler of urban transformation, infrastructure development, and new-age living.
A Joint Knowledge Report by ASSOCHAM and CBRE India, titled “New Paradigm in Indian Housing,” was also unveiled at the conference in the presence of distinguished dignitaries. The report presents a forward-looking analysis of housing trends, emerging technologies, and policy frameworks required to meet future demand.
Mr. Vineet Kanwar, Co-Chairman, National Council on Real Estate, Housing and Urban Development, ASSOCHAM & Group Executive Director-Corporate Affairs, DLF Ltd., and Mr. Getamber Anand, Chairman, ATS Infrastructure Ltd., also shared their views on the subject matter to promote urbanization and infrastructural development.
Frequently Asked Questions
What is the projected growth of India's urban population by 2047?
India’s urban population is projected to grow to approximately 88 crore by 2047 under the Viksit Bharat vision.
What is the current contribution of the real estate sector to the Indian economy?
Real estate currently contributes around 13% to the Indian economy.
What is the AMRUT mission's primary goal?
The AMRUT mission’s primary goal is to bring transformative change in urban infrastructure, grounded in sustainability, inclusivity, and long-term service delivery.
What initiatives are crucial for creating sustainable urban ecosystems?
Initiatives like Transit-Oriented Development (TOD), municipal finance reforms, and capacity building at the grassroots level are crucial for creating sustainable, liveable urban ecosystems.
What is the focus of the next phase of the AMRUT mission?
The next phase of AMRUT continues the vision of climate-resilient planning, increased private sector participation, and a sharp focus on efficiency, transparency, and citizen-centric governance.
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