Indian Real Estate Could Reach $10 Trillion by 2047: CREDAI-Colliers Report
Indian real estate will not just be measured in square feet or asset values by 2047, but by the quality of life created for millions of citizens, CREDAI National President Shekhar Patel said on Friday.
Speaking at the release of a joint report by CREDAI and Colliers at the 23rd edition of CREDAI NATCON in Singapore, Patel said the coming decades are an opportunity “to not just build structures, but to build the India of tomorrow.”
The report projects that the sector could grow into a $5–10 trillion market by 2047, contributing nearly one-fifth of India’s GDP. Growth is expected to be driven by supportive policies, sustained demand, and rising investor interest. By then, the stock of Grade A office, industrial, and warehousing spaces could cross 2 billion sq. ft, while annual housing sales may double to 1 million units.
A major change in market structure is also expected. Real Estate Investment Trusts (REITs) are projected to account for 40–50% of market capitalisation by 2047, compared with about 10% today. REIT penetration in the office segment alone is expected to grow from 16% in 2025 to more than 60%.
The report, Indian Real Estate: Fostering Equity and Fueling Economic Growth, identifies five structural forces shaping the industry’s trajectory: urban expansion, infrastructure development, demographic shifts, digital transformation, and sustainability. It also traces the sector’s growth since the 1990s and outlines its roadmap to 2047, the centenary of India’s independence.
By 2050, about 900 million people, or 53% of India’s population, are expected to live in urban areas, up from 37% today. Meeting this demand will require growth beyond metros into Tier II and Tier III cities, supported by new urban corridors.
Institutional investments in Indian real estate have crossed $80 billion in the past 15 years, with foreign investors contributing 57%. Domestic capital flows have also strengthened in the post-pandemic period.
Badal Yagnik, CEO of Colliers India, said the sector was “poised for decades of growth acceleration” across asset classes. He noted that “Grade A office and industrial stock is expected to surpass the 2 billion sq. ft mark by 2047. Residential sales could double to 1 million units annually.”
Vimal Nadar, National Director and Head of Research at Colliers India, highlighted infrastructure as the biggest challenge. “With more than half of the urban infrastructure for 2050 yet to be built, focal growth centres can shift to emerging Tier II and Tier III cities. Supporting this would require over $2 trillion investments by 2050,” he said.
The 23rd edition of CREDAI NATCON, themed $30 Trillion Economy by 2047: Powered by Real Estate Growth, is being held in Singapore from September 11 to 13, with more than 1,200 stakeholders participating. On the sidelines, CREDAI Pune signed an MoU with Singapore’s BCA International to promote sustainable building practices.