India’s real estate sector is at the cusp of a monumental and transformative journey and is projected to grow multifold levels—from nearly 0.3 trillion Dollars today to a staggering 5-10 trillion Dollars market by 2047, according to a Colliers-CII report released on Thursday. This ongoing surge positions real estate as a cornerstone of India’s economic ascent, potentially contributing 14–20 per cent of the GDP by 2047, it added.
The report, titled “Real Estate @2047: Building India’s Future Growth Corridors”, highlights near-term trends and the overarching growth theme across core segments—residential, office, retail, industrial & warehousing, as well as emerging alternative asset classes like senior living, co-living, and data centres.
Most of these trends are being powered by a strong tailwind in the form of government-led reforms & policy initiatives and structural demand drivers such as rapid urbanisation, demographic shifts, infrastructure augmentation, technology-driven innovation, and sustainability priorities.
Together, these growth engines are creating a multiplier effect, fueling employment and demand across real estate asset classes, attracting institutional capital and unlocking new growth corridors across the country, the report stated. Within real estate, the residential segment is expected to see the most pronounced impact from rapid urbanisation and evolving demographics, particularly in affordable, senior and co-living spaces.
Meanwhile, commercial and industrial segments stand to benefit from enhanced infrastructure-led connectivity, digitalisation, and green mandates, which will support the decentralisation of office hubs and manufacturing clusters across Tier II & III cities. Concurrently, technological advancements, especially in AI, will drive the growth of data centres and smart city infrastructure, the report further stated.
Addressing the CII event, Harleen Kaur, Deputy Secretary, Union Ministry of Road Transport and Highways, said: “India’s infrastructure expansion is reshaping the real estate landscape, unlocking new growth corridors and transforming Tier II & III cities. Real estate and infrastructure are two vital sectors which will reinforce each other. Expressways and industrial corridors will increasingly enhance connectivity—transforming land usage in catchment areas, accelerating urban development, and creating commercially viable economic hotspots.”