India's real estate likely to touch ₹5-10 trillion by 2047: Report

India's real estate sector could reach USD 5-10 trillion by 2047, contributing up to one-fifth of GDP, driven by urbanisation, infra growth, sustainability mandates and investor interest

India’s real estate market is projected to touch USD 5–10 trillion by 2047, contributing nearly one-fifth of the country’s gross domestic product (GDP), according to a report by Colliers and the Confederation of Real Estate Developers’ Association of India (Credai).

 

India’s GDP, currently USD 4 trillion, is estimated to rise to USD 35–40 trillion by 2047. Real estate, valued at USD 0.3 trillion (6–8 per cent of GDP) today, is forecast to form 14–20 per cent of GDP by then, supported by urbanisation, infrastructure growth, sustainability mandates and rising investor interest.

 

“India’s real estate sector is at the forefront of inclusive progress and is set to scale into a USD 5–10 trillion market by 2047,” said Badal Yagnik, chief executive officer, Colliers India.

   

Residential sales are expected to grow from 0.3–0.4 million units in 2025 to 0.8–1.0 million by 2047, driven by demographic shifts, rising incomes and supportive housing policies.

 

Office and industrial stock is likely to exceed 2 billion square feet (bsf) by 2047. Grade A office stock has already tripled since 2010 to over 800 million square feet (msf), driven by rising demand from both Global Capability Centres (GCCs) and domestic players across segments such as technology, banking, financial services and insurance (BFSI), engineering and manufacturing, and flex spaces. It may further grow to 2.5–3 bsf by 2047.

 

Meanwhile, industrial and warehousing stock crossed the 250 msf mark in 2025 amid robust infrastructure development, private sector participation and evolving consumer demand. The segment may exceed the 2 bsf mark by 2047.

 

Over the next few years, developers are likely to increasingly focus on real estate segments beyond office, residential and industrial and warehousing. Data centres’ colocation capacity is expected to grow from 1.3 GW in 2025 to 10–15 GW by 2047. Co-living beds may rise from 0.3 million to over 3 million, while senior living beds could increase from 0.03 million to 1 million in the same period.

 

Real estate investment trusts (Reits) are set to play a larger role, with their share of real estate market capitalisation projected to rise from 10 per cent today to 40–50 per cent by 2047. Office Reit penetration is expected to grow from 16 per cent in 2025 to over 60 per cent by 2047, fuelled by rising investor confidence, a strong regulatory environment, increasing asset diversification and growing institutionalisation of the sector.

 

“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 citizens,” said Shekhar Patel, president, Credai.