India’s real estate set to hit $5-10 trillion by 2047 on robust demand, urbanisation, says Credai, Colliers joint report

In line with the government’s goal to make the country a ‘developed nation’ by 2047, India’s real estate is also poised to reach $5-10 trillion, fuelling close to one-fifth of India’s GDP, thanks to robust domestic demand, rapid urbanisation, infrastructure-led expansion, real estate and construction sector growth and digital acceleration while office and industrial and warehousing stock is expected to cross two billion square feet, according to a new report, “Indian real estate: Fostering equity and fueling economic growth” by Colliers and Credai.

This is going to power India’s real estate sector for a high-paced, multi-faceted growth across asset classes, which is being driven by demographic shifts, infrastructure development, innovation and increasing focus on technology as well as sustainability, the report released on the Credai NATCON event in Singapore stated.

At the core of this economic transformation is India’s real estate sector, which has evolved from a localised industry during the 1990s into a pragmatic and relatively institutionalised sector. Its contribution to the GDP has grown steadily—from under 5% in the early 2000s to 6–8% today and is projected to reach 14–20%, positioning it as a potential $10 trillion growth catalyst by 2047. “India has already emerged as the fourth largest economy globally and can potentially reach $35-40 trillion by 2047, provided the growth pace is not halted by global black swan events,” the report says.

“By 2047, Indian real estate will not just be measured in square feet or asset values—it will be defined by the quality of life we create for millions of citizens. The sector is uniquely positioned to reimagine India’s urban future: designing climate-resilient cities, building affordable yet aspirational homes, and nurturing ecosystems that foster innovation and inclusivity,” says Shekhar Patel, President, Credai.

The report states that the Indian real estate sector has already transformed from a largely fragmented one to a more organised and strategic contributor to national development. The upcoming decades are likely to be characterised by quantum growth fueled by rising institutionalisation, amidst strong investor appetite and scaling up of demand.

On the launch of the report, Badal Yagnik, Chief Executive Officer, Colliers India, said India’s real estate sector is at the forefront of the country’s inclusive progress. “Fueled by supportive policies, envisaged demand traction and rising developer as well as investor interest, Indian real estate is poised for decades of growth acceleration across most asset classes. Interestingly, both the Grade A office and industrial stock of the country are expected to surpass the two billion square feet mark by 2047.” He said residential sales could meanwhile double to one million units annually by the year India aims to achieve developed economy status.