Subhechcha Ganguly 
A Naredco-Knight Frank report projects that the Indian real estate market would grow by more than 12 times, from USD 477 billion in 2017 to USD 5.8 trillion in 2047, and that it will account for more than 15% of the country’s total economic output.In a paper titled “India Real Estate: Vision 2047,” the realtors’ association Naredco and the real estate consultant Knight Frank India foresee India’s prosperity.
India’s real estate industry is expected to reach $5.8 trillion, or $5,833 billion, by 2047. According to a statement by Naredco-Knight Frank, this estimated real estate output value will rise from its present proportion of 7.3% to 15.5% in 2047.It is predicted that India’s economy will be between $33 trillion and $40 trillion when it marks 100 years of independence in 2047.
Knight Frank has made the assumption that by 2047, the Indian economy will have grown to a value of $36.4 trillion on average.
The report predicted that the residential real estate sector will grow from a value of $299 billion in 2018 to a value of $3.5 trillion (3,500 billion) in 2047. The size of the office real estate market is anticipated to rise from $40 billion to $473 billion, and the size of the warehousing market is anticipated to rise from $2.9 billion to $34 billion.
According to Niranjan Hiranandani, National Vice Chairman of Naredco, the favourable domestic economic environment with economic resilience, strengthened infrastructure growth plans, alternative investment models, and domestic consumption power is what is causing the northbound growth in the Indian real estate sector.
