COVER STORY/ECOSYESTEM
Indian Real Estate Sector Anticipated to Soar to $5.8 Trillion by 2047, Predicts Knight Frank India's Latest Report in Collaboration with NAREDCO
In a recent development, renowned real estate consultancy Knight Frank India, in partnership with the apex real estate body NAREDCO, has unveiled its much-anticipated report titled ‘India Real Estate: Vision 2047.’ According to this comprehensive report, the Indian real estate sector is on a trajectory to expand exponentially, projecting a remarkable value of $5.8 trillion by the year 2047. This forecasted surge is expected to make a substantial contribution of 15.5 percent to the total economic output in 2047, a significant leap from the existing share of 7.3 percent.
Indian Real Estate Sector Anticipated to Soar to $5.8 Trillion by 2047, Predicts Knight Frank India's Latest Report in Collaboration with NAREDCO
The esteemed report is set to be formally presented at NAREDCO’s Silver Jubilee Celebration event in Hyderabad on Saturday. The unveiling ceremony will be graced by the presence of M Venkaiah Naidu, Former Vice President of India, adding a note of prestige to the occasion.
As part of its holistic analysis, the report takes into account the anticipated growth of India’s economy by 2047, which is estimated to range between a staggering $33 to $40 trillion. This ambitious projection underscores the potential dynamism of the real estate sector in shaping the country’s economic landscape.
Furthermore, the report highlights the consistent upward trajectory of private equity (PE) investments in the Indian real estate sector over the past two decades. The projections for 2023 indicate a noteworthy milestone, with PE investments in Indian real estate poised to reach a substantial $5.6 billion. This figure reflects a year-on-year growth of 5.3 percent, underscoring the sector’s resilience and attractiveness to investors.
The collaborative effort between Knight Frank India and NAREDCO showcases a comprehensive and insightful analysis of the Indian real estate landscape, providing invaluable insights for stakeholders, investors, and policymakers alike.
