Real estate in India may reach $1.5 trillion by 2034 – Here’s why
As the country embarks on a growth trajectory, the Indian real estate sector becomes more promising. Fueled by urbanization, middle-class expansion, infrastructure development, significant foreign investments, and unwavering government support, the sector is set for unprecedented growth and transformation. This trajectory has not only maintained the sector’s allure but also opened up a world of opportunities for investors, promising potential for significant profit across residential, commercial, and retail segments.
As the country ventures into the realms of the future, India’s real estate landscape appears to be more dynamic by 2034. A recent report by Knight-Frank India-CII forecasts that by 2034, India’s real estate sector is expected to expand to $1.5 trillion, with the residential market leading at a value of $906 billion, followed by the office sector at $125 billion. This forecast has filled the sector with great enthusiasm and dedication to offer more to the public.
Commenting on the same, Manoj Gaur, President, CREDAI NCR and CMD, Gaurs Group, said, “The Indian real estate sector has witnessed massive growth in the last two years. The demand has grown tremendously due to various factors like massive infrastructure development, increased purchasing power, and stable economy. The introduction of RERA also brought back the trust in the industry. All these factors resulted in robust demand. The residential sector in India is experiencing an upcycle. This rise in demand has instilled greater confidence among developers to curate more projects that will cater to the diverse needs of buyers. We see good times ahead and greater contribution of real estate sector in the Indian economy.”
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