India’s real estate sector is poised for a massive transformation, projected to surge from its current size of around USD 300 billion to as much as USD 10 trillion by 2047, according to a new report by Colliers and the Confederation of Indian Industry (CII). The report suggests that the sector could contribute between 14% and 20% to India’s GDP, becoming a key pillar of the country’s journey towards becoming a developed economy under the Viksit Bharat vision.
Emerging Growth Corridors
Released at the 21st edition of the CII Realty Conference in New Delhi, the report — Real Estate @2047: Building India’s Future Growth Corridors — highlights the emergence of Tier II and III cities as major drivers of real estate activity. It identifies a surge in infrastructure expansion, industrial corridors and expressways as catalysts for transforming smaller cities into new economic hubs.
“India’s infrastructure expansion is reshaping the real estate landscape, unlocking new growth corridors and transforming Tier II and III cities,” said Harleen Kaur, Deputy Secretary at the Ministry of Road Transport and Highways. “Real estate and infrastructure will reinforce each other to create commercially viable hotspots.”
Policy Push and Demographic Momentum
The report credits policy reforms such as RERA, PMAY and the SWAMIH fund with improving transparency and boosting housing access. “Over the past decade, consistent policy support has laid the foundation for accelerated growth,” said Pradeep Aggarwal, Chairman of Signature Global India. “As India builds upon global best practices, enhanced tech adoption will be key to ensuring sustainable growth.”
Ashwinder R Singh, Chairman of the CII NR Committee on Real Estate, added that India’s urbanization wave — with 40% of the population expected to live in cities within the next few years — is driving the next phase of expansion. “Tier II cities like Chandigarh, Kochi and Lucknow are emerging as new growth hubs,” he said.
New Frontiers in Real Estate
The report anticipates annual office space demand to stabilise at 70–75 million sq ft, while industrial and warehousing requirements could reach 30–40 million sq ft in the coming years. Simultaneously, alternative asset classes such as data centres, co-living and senior housing are expected to see “quantum growth,” said Badal Yagnik, CEO of Colliers India.
As India advances toward 2047, the sector’s evolution is set to be marked by sustainable urbanization, diversified investments and an expanding network of smaller yet powerful urban centres — the new engines of Amrit Kaal’s growth story.
