India’s real estate sector is booming

According to Naredco and Knight Frank analysis, India's real estate market is set to grow over 12-fold to $5.8 trillion by 2047 from $477 billion in 2022.

  • It's projected to contribute 15.5% to India's economy, up from 7.3% currently, by its 100th independence anniversary in 2047.

  • India's economy is expected to be between $33 trillion and $40 trillion by 2047.

  • The residential real estate sector may rise from $299 billion in 2018 to $3.5 trillion by 2047.

  • Office real estate is predicted to increase from $40 billion to $473 billion, and warehousing from $2.9 billion to $34 billion.

  • Despite the Covid impact, the housing sector has rebounded with increased sales, rising prices, and reduced unsold inventory.

The overall sentiment in major markets is positive. India might just be the underdog that comes up on top.