Realty sector’s GDP contribution to touch 13% by 2030: Kishan Reddy

Hyderabad: Union Minister for Coal and Mines G Kishan Reddy said the real estate sector would play a crucial role in India’s economic growth, with its contribution to GDP projected to increase from the current seven per cent to 13 per cent by 2030.

He was speaking at the concluding session of the 16th Telangana Property Show organised by the National Real Estate Development Council (NAREDCO) in Hyderabad.

Kishan Reddy said owning a house was a dream for every Indian and provided financial security and confidence for the future.

He stressed that real estate was not merely about land and buildings but was closely linked to people’s aspirations, economic development and urban infrastructure.

Highlighting infrastructure growth, he said the national highway network had expanded by 61 per cent over the past 12 years, with nearly 34 km of highways being constructed daily. Railway electrification had reached 99 per cent nationally and 100 per cent in Telangana. The Centre was modernising 42 railway stations in the State. Operational airports had increased from 74 in 2014 to 165, while national waterways had expanded from five to 32. He said India’s GDP had tripled over the past decade, with the country recording approximately seven per cent economic growth despite geopolitical challenges. India had emerged as the world’s fourth-largest economy. The startup ecosystem had grown from around 400 startups in 2014 to over 1.57 lakh, including more than 100 unicorns. Foreign exchange reserves reached $785.71 billion in September 2026, while exports stood at $776.68 billion.

The Minister said the Union Budget 2026-27 allocated Rs.12.22 lakh crore for capital expenditure. He urged Telangana to utilise central assistance, including more than Rs.4 lakh crore provided to states through 50-year interest-free loans under the SASCI scheme. The Rs.1 lakh crore Urban Challenge Fund would support urban redevelopment, water supply, sanitation and infrastructure.

Emphasising homebuyer protection, he said RERA had improved transparency and accountability. Telangana had registered nearly 10,000 real estate projects and 4,000 agents. India had also entered the top 30 of the Global Real Estate Transparency Index 2026 for the first time.

He said GST 2.0 reforms had reduced construction costs by three to five per cent and urged NAREDCO to ensure homebuyers received the benefits.

Kishan Reddy called upon developers to adopt Artificial Intelligence, Internet of Things and data analytics to improve project planning, assess housing demand and reduce construction time through prefabricated technologies. He stressed sustainable buildings and strict safety standards.

Referring to Hyderabad’s expansion, he highlighted the Regional Ring Road and Outer Ring Rail projects and called for transit-oriented development integrating residential, commercial and public transport facilities. Describing Hyderabad as a major defence, space and healthcare hub, he expressed confidence that it would emerge as a globally recognised, mafia-free city and urged strict action against land mafias.

He said Hyderabad had established itself among India’s leading property markets, comparing favourably with Mumbai, Noida, Delhi and Bengaluru. He concluded that the real estate sector would be instrumental in achieving India’s ambition of becoming a $30-trillion economy by 2047.

ABOUT THE AUTHOR

Gouda Swiyachandra

Gouda Swiyachandra