India’s real estate sector is entering a defining era of transformation. According to a new report by Colliers and the Confederation of Indian Industry (CII), the sector is expected to grow more than 20 times, from its current value of around USD 0.3 trillion to between USD 5 and 10 trillion by 2047. This surge could make real estate one of the largest contributors to India’s economy, accounting for up to 20% of GDP, and positioning it as a key driver of the country’s ‘Viksit Bharat’ vision under the Amrit Kaal roadmap.
The report, Real Estate @2047: Building India’s Future Growth Corridors, was unveiled at CII Realty 2025 in New Delhi by Harleen Kaur, Deputy Secretary, Ministry of Road Transport and Highways, Government of India. It outlines how rapid urbanization, infrastructure growth, sustainability priorities, and technology adoption are unlocking new urban corridors across the country and reshaping both traditional and emerging real estate segments.
“India’s infrastructure expansion is reshaping the real estate landscape, unlocking new growth corridors and transforming Tier II and III cities,” said Harleen Kaur at the launch. “As we march towards a multi-trillion-dollar economy, the demand for world-class built structures, integrated logistics hubs, and resilient mobility solutions including transit-oriented development systems will become more prominent. 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.”
The report finds that sustained government reforms, demographic shifts, and digital transformation are driving structural demand across all major real estate asset classes—residential, commercial, industrial, retail, and alternative segments such as data centers, co-living, and senior housing.
Pradeep Aggarwal, Founder and Chairman of Signature Global India Ltd, noted that consistent policy support has laid the groundwork for this next phase of growth. “India is firmly on the path of becoming a developed nation by 2047, powered by demographic strengths, progressive policies, and a collective vision of inclusive growth,” he said. “Notably, within the residential segment, initiatives such as PMAY, RERA, the infrastructure status for affordable housing, and the SWAMIH fund have improved housing accessibility and last-mile financing while enhancing transparency. Moreover, as we build upon global best practices, India must continuously enhance tech adoption in real estate and infrastructure to ensure sustainable growth.”
Urbanization will be one of the strongest forces shaping the sector. According to the report, 40% of India’s population is expected to live in urban areas in the next few years. “India’s real estate sector is on a transformative trajectory, poised to grow from nearly USD 300 billion today to a USD 1 trillion industry by 2030 and potentially reach USD 5–10 trillion by 2047,” said Ashwinder R Singh, Chairman, CII NR Committee on Real Estate and Vice Chairman & CEO, BCD Group. “Tier II cities like Chandigarh, Kochi, Lucknow, and Thiruvananthapuram are emerging as new growth hubs, building India’s future and fulfilling the vision of Viksit Bharat.”
Badal Yagnik, CEO and Managing Director of Colliers India, added that this transformation will redefine the nation’s urban fabric. “The ongoing real estate transformation will be characterized by significant scaling up across asset classes,” he said. “In addition to demand traction in core assets such as office, residential, and industrial & warehousing, we anticipate quantum growth in alternative asset classes such as data centers and shared living. With nearly 100 million-plus cities expected to champion the case for equitable economic growth, newer real estate growth corridors will gain prominence, creating inclusive, future-ready, and sustainable real estate hotspots.”
The report outlines major trends across key segments:
Office Real Estate:
India’s office market is expected to sustain annual demand at 70–75 million sq. ft over the next few years. Grade A office stock is projected to exceed 1 billion sq. ft by 2030 and potentially double by 2047. The growth will be led by hybrid work models, hub-and-spoke formats, and Global Capability Centers (GCCs), which are expected to drive up to 50% of annual office demand. Tier II cities like Coimbatore, Indore, and Kochi are also emerging as office hubs, supported by infrastructure upgrades and skilled talent.
Residential Real Estate:
Housing demand is expected to rise sharply, reaching half a million units annually by 2030 and doubling to one million by 2047. With India’s median age rising to 30–40 years and household incomes growing, first-time homebuyers will continue to lead demand. While affordable housing remains crucial, luxury homes, plotted developments, and wellness-oriented spaces are gaining traction. Redevelopment projects and updated zoning regulations in cities such as Mumbai, Bengaluru, and Delhi NCR will further reshape urban skylines.
Industrial, Warehousing, and Retail:
Industrial and warehousing demand is projected to reach 30–40 million sq ft annually, supported by logistics corridors and digitalization. Grade A warehouse stock could surpass 2 billion sq. ft by 2047. The retail segment too is undergoing change, with over 1,000 malls expected by 2030 and 1,500 by 2047. These are evolving into lifestyle destinations, especially in Tier II cities such as Jaipur, Ahmedabad, and Kochi, as retail REITs bring greater formalization to the sector.
Alternative Assets:
Data centers, co-living, and senior housing are expected to see exponential growth. Data center capacity is likely to reach 4.5 GW by 2030 and 10 GW by 2047, powered by AI, 5G, and cloud adoption. Senior and co-living inventories could expand tenfold to thirtyfold as demographic and lifestyle changes reshape demand patterns.
The report concludes that policy-led reforms, infrastructure investments, and technological advancements will continue to strengthen India’s real estate foundations. By 2047, India could have nearly 100 cities with populations exceeding one million, each a node in a vast, interconnected web of urban opportunity. Together, these developments point toward a future where real estate not only fuels economic growth but also builds a more balanced, inclusive, and sustainable India.
