The number of jobs in real estate sector could approach 100 million by 2030 from the current estimates of 70 million across construction, sales, design and related industries, according a joint Knowledge Report prepared by KPMG and NAREDCO.
The report released here today by the Minister of Housing & Urban Affairs, Government of India, Manohar Lal Khattar along with President, NAREDCO, Parveen Jain at a NAREDCO Conclave 2026, adds that the ripple effects of the aforesaid job estimates could be enormous.
Every new project boost demand for cement, steel, bricks, paint, glass, fittings, logistics and a wide range of services, spreading income gains across the economy, highlights the report.
It elaborates that India has set an ambitious target to become a fully developed economy by 2047. In order to reach that goal, Viksit Bharat @ 2047 would imply an economy of about Rs. 3171 trillion.
Real estate in this becomes one of the clearest execution levers because it converts that ambition into real, lived capacity through homes, jobs, productive workplaces and the digital infrastructure that modern services run on, making it central to improving quality of life while also raising productivity and competitiveness.
According to the highlights of the report, India’s real estate market is currently worth about Rs. 26.4 trillion and is projected to grow to about Rs. 88 trillion by 2030.
The 2047 scale up is reflected in a realistic market size range of about Rs. 440.5-616.7 trillion. Real estate’s share of GDP is expected to rise to about 12-15 per cent by 2047 from about 7-8 per cent in 2025.
According to the findings of the Report “Real estate and construction sector are also a job machine. As of now, it supports roughly 70 million jobs across sales, design and related industries and by 2030 that number could approach 100 million”.
The study concludes pointing out that the projected estimates would be achieved through better execution, regulation, digital systems, green building practices and inclusive policies that reshape the real estate sector.
Neeraj Bansal, Partner and Head – India Global, KPMG in India also stated as urbanisation is expected to increase by approximately 50% to reach 900 million by 2047, this will be a critical factor to provide a big boost to GDP growth and thrust to build smarter and better infrastructure”.
