{"id":71317,"date":"2023-08-29T13:02:58","date_gmt":"2023-08-29T07:32:58","guid":{"rendered":"https:\/\/navimumbaihouses.com\/blog\/?p=71317"},"modified":"2023-08-29T13:02:58","modified_gmt":"2023-08-29T07:32:58","slug":"indias-real-estate-market-predicted-to-reach-5-8-trillion-by-2047","status":"publish","type":"post","link":"https:\/\/navimumbaihouses.com\/blog\/news\/indias-real-estate-market-predicted-to-reach-5-8-trillion-by-2047\/","title":{"rendered":"India’s Real Estate Market Is Predicted To Reach $5.8 Trillion By 2047 : Report"},"content":{"rendered":"

India’s Real Estate Market :<\/strong> According to a joint research by Knight Frank and the National Real Estate Development Council (Naredeco), India’s real estate sector would grow to $5.8 trillion by 2047, contributing 15.5% to the country’s GDP, up from its current proportion of 7.3%.<\/p>\n

According to the research “India Real Estate: Vision 2047,” the residential segment would dominate the real estate market. It stated that when India celebrates 100 years of independence in 2047, its GDP will be worth between $33 and $40 trillion.<\/p>\n

Private equity investments in the Indian real estate market have risen steadily over the past 20 years, according to the research, and from a projected $5.6 billion in 2023 to $54.3 billion in 2047, a 9.5% annual growth rate, is predicted.<\/p>\n

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India’s Real Estate Market Is Predicted To Reach $5.8 Trillion By 2047<\/h2>\n

The Indian economy would experience significant growth by 2047, according to Naredeco India President Rajan Bandelkar. Demand will increase across all asset classes, including residential, commercial, warehouse, industrial land projects, etc., at a multiplier rate to meet the expanding demands of the economy and personal consumption requirements.<\/p>\n

A projected 230 million housing units will be needed in India over the next 25 years. The demand for housing is anticipated to continue to be focused in the mid-range and luxury dwelling segments. By 2047, just 9% of households will have lower incomes, down from the current 43%.<\/p>\n

The National Vice Chairman of NAREDCO, Niranjan Hiranandani, stated that “the northbound growth in the Indian Real Estate sector is driven by the favourable domestic economic environment with economic resilience, bolstered infrastructure growth plans, alternative investment models, and domestic consumption power. A rising GDP will spur development in commercial and industrial real estate, luring foreign investors to Grade A assets. In order to pool assets and increase investor trust, emerging alternative asset classes will be crucial.<\/p>\n

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