India’s real estate sector is projected to more than triple in value by 2030, reaching ₹88 lakh crore, according to a joint report by KPMG and the National Real Estate Development Council (NAREDCO).
The report, titled The Role of Real Estate in ViksitBharat@2047, estimates that the market, currently valued at around ₹26.4 lakh crore in 2025, could see rapid expansion over the next five years as urbanisation accelerates and infrastructure investment deepens.
India has set a target of becoming a fully developed economy by 2047. The report argues that real estate will serve as a key execution lever in achieving that ambition, describing the sector as “the backbone” of the country’s growth vision.
Neeraj Bansal, Partner and Head – India Global at KPMG in India, said the sector could expand further to between ₹440.5 lakh crore and ₹616.7 lakh crore by 2047, as the country’s urban footprint and economic base broaden.
NAREDCO President Parveen Jain said real estate goes beyond physical structures, playing a central role in enabling productivity, mobility and social stability. “Real estate is where national ambition becomes real,” he noted, highlighting its role in housing, workplaces and infrastructure development.
The report also points to employment generation as a major outcome of sectoral growth. Jobs in real estate and allied industries — including construction, sales and design — could approach 100 million by 2030, up from an estimated 70 million currently.
Industry experts say sustained policy support, access to financing and continued infrastructure push will be crucial to sustaining this growth trajectory, as India seeks to align its property market with its long-term economic aspirations.
