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New Delhi witnessed a pivotal discussion on India’s real estate future at the National Urban and Real Estate Development Conclave 2026, where Union Civil Aviation Minister K. Ram Mohan Naidu announced that the government is conducting a study to relax height restrictions for real estate projects. The move aims to promote vertical development, given the constraints of horizontal expansion in urban areas.
Naidu emphasized that India’s real estate market, projected to reach USD 1 trillion by 2030, has the potential to expand to USD 5–7 trillion by 2047. He noted that vertical growth will be essential to doubling the sector’s contribution to national GDP by 2047. The study, being conducted by a reputed agency, will recommend regulatory changes to align real estate growth with airport‑led infrastructure expansion.
Highlighting civil aviation’s multiplier effect, Naidu said: “Nearly 50 more airports will be added in the next five years, and this number will multiply to 200 in the next 20 years. This will not only transform aviation but also create massive opportunities for real estate, construction, and housing.” He also urged NAREDCO to accelerate India’s trajectory toward rental housing, reflecting global trends where young populations prefer flexibility over ownership.
Shri Tokhan Sahu, Minister of State for Housing & Urban Affairs, assured industry representatives of policy support to strengthen construction and affordable housing. He stressed proactive industry participation in delivering units under the Prime Minister Awas Yojana, ensuring housing for the poorest sections.
NAREDCO leaders echoed the call for transformation. President Parveen Jain highlighted the need for policies that double real estate’s GDP contribution, while Chairman Dr. Niranjan Hiranandani underscored urban development’s central role in Viksit Bharat@2047. He remarked: “Urban India today houses 37% of our population and contributes 65% of GDP. By 2047, more than half of India will be urban. The question is whether we let urbanisation happen to us—or shape it responsibly.”
The conclave also featured insights from Justice Rajan Gupta, Chairman of the Haryana Real Estate Appellate Tribunal, and N. Saravana Kumar, Vice Chairman of the Delhi Development Authority, who emphasized the importance of regulatory clarity and urban planning.
Together, the discussions signaled a strong policy push toward vertical growth, rental housing, and sustainable urbanisation, positioning real estate as a cornerstone of India’s economic transformation in the decades ahead.
