Rs 88 lakh crore by 2030! Indian real estate market size to jump over three-fold | Role of real estate in 'Viksit Bharat' EXPLAINED

The Indian real estate market is projected to reach Rs 88 lakh crore by 2030, a more than three-fold jump from last year, according to a joint report by KPMG and Naredco. Realtors' body Naredco and KPMG, an audit, tax and advisory firm, have released a report titled 'The role of real estate in ViksitBharat@2047'.

"India has set an ambitious target to become a fully developed economy by 2047, and real estate is not just about buildings; it is the backbone that makes this vision achievable," PTI quoted the report. To reach that goal, real estate becomes one of the clearest execution levers, it added.

"India's real estate market is currently worth about Rs 26.4 trillion in 2025 and is projected to grow to about Rs 88 trillion by 2030," the report said.

Neeraj Bansal, Partner and Head - India Global, KPMG in India, said the real estate market is expected to expand to Rs 440.5-616.7 trillion by 2047, as India's urban footprint and economic base deepen, according to PTI.

"Real estate is where national ambition becomes real, through homes that anchor dignity, workplaces that power productivity and infrastructure that enables mobility and opportunity. In that sense, the sector is not only shaping assets, but also outcomes," Naredco President Parveen Jain said.

The number of jobs in the real estate sector could approach 100 million by 2030 from the current estimates of 70 million across construction, sales, design and related industries, PTI quoted the report.