India real estate market may reach Rs 88 lakh crore by 2030: Report

India’s real estate market is projected to expand to Rs 88 trillion by 2030, more than three times its estimated size in 2025, according to a joint report by KPMG and Naredco.The report, titled ‘The role of real estate in ViksitBharat@2047’, estimates the sector’s current value at around Rs 26.4 trillion in 2025. It adds that the market could further scale up to Rs 440.5–616.7 trillion by 2047 as India’s urbanisation and economic base deepen, according to PTI. “India has set an ambitious target to become a fully developed economy by 2047, and real estate is not just about buildings; it is the backbone that makes this vision achievable,” the report noted.Neeraj Bansal, Partner and Head – India Global, KPMG in India, said the sector’s growth will reflect expanding urban footprints and rising economic activity.Naredco President Parveen Jain said, “Real estate is where national ambition becomes real, through homes that anchor dignity, workplaces that power productivity and infrastructure that enables mobility and opportunity.”The report also projects employment in the sector to rise to nearly 100 million by 2030, up from around 70 million currently across construction, sales, design and allied industries.(With inputs from PTI)