Real Estate Sector to Reach $5.8 Trillion, says Knight Frank India and NAREDCO
According to a report, India's real estate sector is expected to grow to $5.8 trillion by 2047, when the country celebrates its 100th year of independence. The current value of real estate is estimated to be $477 billion.
As per a report released by real estate consultant Knight Frank India in collaboration with the National Real Estate Development Council (NAREDCO), the estimated real estate output value will contribute 15.5 percent of total economic output in 2047, up from 7.3 percent currently. Over the last two decades, private equity investments in the Indian real estate sector have steadily increased.
PE investments in Indian real estate are expected to reach $5.6 billion in 2023, representing a 5.3% increase year on year. The size of India's overall economy is estimated to be between $33 trillion and $40 trillion. According to current estimates, the Indian economy is worth $3.4 trillion. With India's GDP expected to reach $36.4 trillion by 2047, private equity investments in the Indian real estate sector are expected to reach $54.3 billion by 2047, representing a Compound Annual Growth Rate of 9.5% from 2023 to 2047.