India’s realty set for 20x growth to touch $10-trn mark by 2047

India’s real estate sector is poised for an unprecedented transformation, projected to expand nearly 20-fold- from the current $0.3 trillion to between $5 and 10 trillion by 2047-according to a new report by Colliers and the Confederation of Indian Industry (CII). The study, titled “Real Estate @2047: Building India’s Future Growth Corridors,” projects the sector’s contribution to the national GDP to rise to 14-20 per cent by 2047, underlining its pivotal role in realizing the government’s Viksit Bharat vision.

Unveiled at the 21st edition of CII Realty 2025 in New Delhi by Harleen Kaur, Deputy Secretary, Ministry of Road Transport and Highways, the report highlights how policy reforms, infrastructure expansion, urbanization, and technology are reshaping India’s real estate landscape.

“Infrastructure expansion is unlocking new growth corridors and transforming Tier II and III cities. Expressways and industrial corridors will continue to enhance connectivity, driving urban development and creating new economic hotspots,” said Kaur.

The report identifies five major growth engines—rapid urbanization, infrastructure augmentation, demographic advantage, technology-led transformation, and sustainability priorities—that are collectively generating a multiplier effect across the economy.

Colliers forecasts annual office space demand to stabilize at 70–75 million sq. ft. in the coming years, with Grade A stock expected to surpass 1 billion sq. ft. by 2030 and potentially double by 2047. Global Capability Centers (GCCs) will account for 40–50 per cent of new leasing activity, while smaller cities such as Coimbatore, Indore, Kochi, and Bhubaneswar are emerging as vibrant commercial hubs.

The residential segment will see the strongest growth, buoyed by demographic shifts and higher disposable incomes. Annual housing demand is projected to double—from half a million units by 2030 to one million by 2047. Affordable housing, redevelopment projects, and sustainable living concepts will dominate, alongside increased interest in luxury and wellness-oriented homes.

The industrial and warehousing sector is expected to record annual demand of 30–40 million sq. ft., underpinned by India’s expanding logistics networks and manufacturing corridors. Retail, meanwhile, will see the rise of new-age malls and retail REITs, with over 1,500 malls anticipated by 2047, many in emerging cities like Jaipur, Ahmedabad, and Guwahati.

Colliers predicts exponential growth in alternative real estate segments such as data centers, senior living, and co-living. India’s data center capacity is expected to touch 10 GW by 2047, supported by AI adoption, cloud computing, and 5G expansion. Similarly, the senior living and co-living markets could grow more than tenfold as evolving lifestyles reshape housing preferences.

“With nearly 100 million-plus cities projected by 2047, new real estate corridors will emerge—driving inclusive, sustainable, and future-ready growth,” said Badal Yagnik, CEO & MD, Colliers India.

The study concludes that India’s smaller cities will be the next engines of real estate expansion, promoting balanced economic development as the nation moves toward its centennial year of independence.