In a groundbreaking report released by the Confederation of Indian Industry (CII) in collaboration with Knight Frank, the Indian real estate market is poised for a monumental surge, with projections reaching a staggering USD 1.5 trillion by 2034.
The comprehensive report outlines a robust forecast for the Indian real estate sector, highlighting a significant upward trajectory in stocks and Exchange-Traded Funds (ETFs). Developers across the nation are gearing up for unprecedented growth opportunities, eyeing substantial profits in the coming years.
Mr. Pankaj Pal, Managing Director, Whiteland Corporation shared his observations, saying, “The CII-Knight Frank research reveals several key statistics about India’s real estate market, and anticipates a massive boom that will allow the sector to reach USD 1.5 trillion by 2034. As India’s urban population exceeds 1.55 billion and housing demand continuing to rise, the Indian real estate industry is expected to contribute a significant 10.5% of the national GDP. Embracing a convergence of various factors such as changing demographics, technology improvements, and supportive legislation, the sector presents a plethora of options across income levels. The research stresses strategic actions to capitalize on this development potential, advocating for the use of modern technology and India’s talented labour in confluence with the supportive government policies to address infrastructural and logistics difficulties and promote sustainable practices.”
With the market forecast reflecting a remarkable surge, investors and stakeholders are paying close attention to the promising prospects within the Indian real estate landscape. The report underscores the potential for substantial returns on investment, drawing interest from both domestic and international players.
Mr. Yashank Wason, Managing Director of Royal Green Realty shared, “With India’s urban population expected to reach 1.55 billion and housing demand on the rise, the CII-Knight Frank report has forecasted that the Indian real estate sector will grow to $1.5 trillion by 2034, and contribute up to 10.5% of the entire national GDP. Considering factors such as changing demographics, advancements in technology, and favourable government policies, the Indian real estate industry is offering a wide ambit of opportunities for prudent investors and discerning homebuyers across diverse price brackets. The foreign investments in the Indian real estate sector are projected to rise significantly in the near perceivable future. This is further an indication of India’s emergence as the preferred choice for customers looking for lucrative returns through real estate property appreciation”.
He further added, “The report by CII-Knight Frank has also underscored the pivotal role of Tier 2 cities, such as Bahadurgarh, Sonipat and Indore, in India’s housing development and economic growth. As urbanization accelerates, these cities emerge as engines propelling housing demand, aligning with parallel growth in commercial real estate. Their contribution extends beyond mere habitation, fostering infrastructural advancements and business expansion. The shared relationship between housing and commercial real estate underscores the transformative potential of India’s urban centers, driving a trajectory of sustainable economic evolution. Urban expansion and business vitality intertwine, propelling both sectors towards a shared horizon of unprecedented opportunity and economic prosperity. The report recommends taking strategic steps to capitalize on this growth potential, including using technology alongside India’s skilled workforce and conducive government policies to tackle infrastructure and logistical hurdles through sustainable and innovative construction techniques. With India’s economy on track to reach USD 10.3 trillion by 2034, the real estate industry is poised to play a crucial role in shaping a better and more prosperous future.”
Experts emphasize the role of strategic investments and innovative development initiatives in driving this remarkable growth trajectory. Developers are increasingly focusing on leveraging technology and sustainable practices to capitalize on emerging market trends and consumer preferences.
Mr. Pradeep Aggarwal, Founder & Chairman Signature Global (India) Ltd. said, “The CII-Knight Frank report has highlighted critical indicators for the future growth prospects of India’s real estate sector. With India’s urban population poised to reach USD 1.55 billion and housing demand projected to skyrocket, the report has forecasted that the sector will grow to reach USD 1.5 trillion by 2034, and constitute a remarkable 10.5% of the national economic output.
Embracing a diverse spectrum of factors including shifting demographics, technological advancements and supportive policies, the Indian real estate sector promises a myriad of opportunities across income brackets. The research also states that foreign investment in the Indian real estate market is likely to increase manifolds, demonstrating India’s attraction as an investment destination.”
The CII-Knight Frank report serves as a guiding beacon for real estate developers, offering valuable insights into market dynamics, trends, and investment opportunities. It underscores the importance of agility and adaptability in navigating the evolving landscape of the Indian real estate sector.
S.K Narvar, Group Chairman, Trident Realty, says- India’s real estate sector is on the brink of a remarkable expansion. Its value is projected to reach a significant milestone of USD 1.5 trillion by 2034, making it a major contributor to the nation’s economic growth. This surge is driven by the growing demand for housing and commercial spaces, propelled by a rising population, urbanization, and the expansion of various industries. With the rise of global capability centers and the growth of Tier 2 and 3 cities, this demand is set to skyrocket, creating new opportunities for developers and investors. It is a testament to India’s infrastructure development, entrepreneurial spirit, and strategic initiatives, and the real estate sector is set to play a pivotal role in shaping the nation’s future. This offers a promising outlook for all stakeholders involved in this journey towards progress and development.”
Mr. Gaurav K Singh, Founder & Chairman, Womeki Group said, “The CII-Knight Frank report highlights that foreign investments in the real Indian real estate sector are expected to significantly increase, indicative of India emerging as the preferred investment destination. The report emphasizes strategic initiatives to harness this growth potential, while also advocating for the leveraging of technology in confluence with India’s skilled workforce and supportive government policies to address infrastructure and logistic challenges, through sustainable and innovative construction practices. As India’s economy surges towards USD 10.3 trillion by 2034, the real estate sector stands as a cornerstone, ushering in a brighter and more prosperous tomorrow.
As the industry braces for unprecedented growth, stakeholders remain optimistic about the transformative potential of the Indian real estate market. With projections reaching new heights, developers are poised to capitalize on the burgeoning demand and propel the sector towards unparalleled success in the years to come.