Experts Estimate India May Reach $1.5 Trillion by 2034

Fuelled by urbanization, middle-class expansion, infrastructure development, significant foreign investments, and unwavering government support, experts think that the Indian real estate market might reach an all-time high. 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.

In the past two years, the Indian real estate sector has witnessed massive growth due to various factors like massive infrastructure development, increased purchasing power, and a stable economy. The introduction of RERA also brought back the trust in the industry which 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.

The report also states that India’s real estate market is currently estimated at $482 billion, contributing 7.3% to the total economic output and forecasts that by 2034, the sector will expand to $1.5 trillion, contributing 10.5% to the total economic output. Experts also believe that the burgeoning urban population will increase the demand for housing in the country and it will foresee strong sales in the coming years, leading to which developers will craft more and more projects to cater to the needs of the masses.