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- Indian Real Estate Market Poised to Reach $1.5 Trillion by 2034
Indian Real Estate Market Poised to Reach $1.5 Trillion by 2034
- 13 Apr 2024
On 12th April 2024, a joint report by Knight Frank India and the Confederation of Indian Industry forecasted the Indian real estate market to contribute $1.5 trillion to GDP, constituting 10.5% of India's GDP by 2034.
Key Points
- Potential Growth: Despite cyclical fluctuations, the sector's maturing supply ecosystem and improved regulatory framework are expected to sustain an upward trend over the next decade.
- Residential Segment: With a projected surge in population to 1.55 billion, the residential segment anticipates a demand for 7.8 crore new units, translating to an estimated additional market value output of $906 billion.
- Office Segment: The report estimates potential revenue of $125 billion from the office segment, driven by 2,880 global capability centres, with projected office space demand ranging from 2.7 to 4.4 billion square feet.
- Warehousing Market: Projected demand for warehousing space is 111 million square feet by 2034, necessitating an additional 42 million square feet over the next decade. This segment could generate revenue of $8.9 billion.
- Private Equity Inflows: With India's GDP expected to reach $11.3 trillion by 2034, private equity inflows into real estate are forecasted to reach $14.9 billion, reflecting a compound annual growth rate of 17% between 2023 and 2034.
State In News
State In News
State In News
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chhattisgarh
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu And Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Punjab
- Rajasthan
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttarakhand
- West Bengal