India’s real estate sector could become one of the country’s largest employment generators, with the total number of jobs expected to approach 100 million by 2030, up from an estimated 70 million currently, according to a joint Knowledge Report by KPMG and NAREDCO.

The report released by the Minister of Housing & Urban Affairs, Government of India, Manohar Lal Khattar, along with President, NAREDCO, Parveen Jain, at a NAREDCO Conclave 2026, adds that the ripple effects of the aforesaid job estimates could be enormous. 

Every new project boosts demand for cement, steel, bricks, paint, glass, fittings, logistics and a wide range of services, spreading income gains across the economy, highlights the report.

It elaborates that India has set an ambitious target to become a fully developed economy by 2047.  In order to reach that goal, Viksit Bharat @ 2047 would imply an economy of about INR3171 trillion.

Real estate in this becomes one of the clearest execution levers because it converts that ambition into real, lived capacity through homes, jobs, productive workplaces and the digital infrastructure that modern services run on, making it central to improving quality of life while also raising productivity and competitiveness.

According to the highlights of the report, India’s real estate market is currently worth about INR26.4 trillion and is projected to grow to about INR88 trillion by 2030. 

The 2047 scale up is reflected in a realistic market size range of about INR440.5-616.7 trillion.  Real estate’s share of GDP is expected to rise to about 12-15 per cent by 2047 from about 7-8 per cent in 2025.

According to the findings of the Report “Real estate and construction sector are also a job machine.  As of now, it supports roughly 70 milliion jobs across sales, design and related industries and by 2030 that number could approach 100 million”.

The study concludes pointing out that the projected estimates would be achieved through better execution, regulation, digital systems, green building practices and inclusive policies that reshape the real estate sector.

Neeraj Bansal, Partner and Head – India Global, KPMG in India also stated as urbanisation is expected to increase by ~50% to reach 900 million by 2047, this will be a critical factor to provide a big boost to GDP growth and thrust to build smarter and better infrastructure”.