The Indian real estate market has grown from USD 120 billion in 2017 to around USD 600 billion in 2025 and is projected to reach USD 1 trillion by 2030 and nearly USD 5.8 trillion by 2047, according to a CREDAI report, released in collaboration with ANAROCK Research & Advisory.

As per the report, titled ‘Indian Real Estate: Growth Trajectory, Sectoral Outlook and Geopolitical Crosscurrents,” real estate’s contribution to India’s GDP is estimated to more than double, from 6% in 2017 to approximately 13% by 2030. Employment in the sector is projected to grow correspondingly, from 9.2 million people in 2016 to an estimated 30 million by 2030, cementing its position as the second-largest employment generator in the country after agriculture Rising Contribution (%) to

The report also points to sustained residential demand, with sales value across the top seven cities rising from Rs. 2.35 lakh crore in FY22 to Rs. 6.10 lakh crore in FY26. Quarterly residential sales have remained above Rs. 1.3 lakh crore for seven consecutive quarters. In office, GCCs accounted for around 45% of leasing in H1 2026, while listed office REITs have expanded their combined leasable area nearly six-fold since FY19. Tier-II and Tier-III cities are also emerging as new centres of real estate activity, alongside the growth of data centres, warehousing and hospitality.

The total value of real estate under construction across residential, office, retail and warehousing has grown from USD94 billion in 2009 to USD503 billion in 2025, a more than five-fold increase. Within this, the share of the residential segment has risen from 48% to 85% over the same period. This reflects both the scale of housing demand and the relatively smaller (though fast-growing) base of commercial asset classes. Office remains the largest commercial category by value, while warehousing, though still a small share of the total, has grown from a near-zero base in 2009 to over USD10 billion in 2025.

Premiumization Continues to Reshape Supply City-wise

The most significant structural shift in residential supply has been the rise of premium housing. High-end, luxury and ultra-luxury categories together accounted for just 12.6% of new supply in FY22; by FY26 that combined share had grown to 45%. Affordable and lower-mid segments, by contrast, have both roughly halved their share of new supply over the same period, from 24.6% to 13.6% and from 36.9% to 18.0% respectively.

City-Wise Concentration

The Mumbai Metropolitan Region (MMR) remained the single largest residential market by sales value in FY26, at 34% of the INR6.3 lakh crore total across the top 9 cities, followed by the National Capital Region at 22% and Bengaluru at 15%. Chennai posted the sharpest annual growth in sales value among major cities, while Delhi-NCR and Bengaluru also grew strongly, even as MMR itself saw a modest year-on-year decline in value terms.

Listed Players: Presales Guidance Points to Continued Growth

Combined FY27 presales guidance across listed residential developers stands at approximately INR1.85 lakh crore, an aggregate growth of 22% over FY26 actuals. The large majority of listed players are guiding double-digit growth for FY27, with several mid-sized listed players guiding 40% or higher growth off smaller bases, while larger, more established listed players are consolidating growth in the 14-21% range.