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India's real estate market to touch $10tn by 2047: Report
Business
India's real estate scene is set for a massive leap—from nearly $0.3 trillion today to as much as $10 trillion by 2047, according to a new Colliers-CII report.
This growth could make up nearly a fifth of the country's GDP, thanks to rapid urbanization, better infrastructure, and new tech.
Housing sales are expected to triple, with affordable, senior, and co-living spaces expected to see pronounced growth.
Infrastructure projects are driving demand in tier-2, tier-3 cities
Big infrastructure projects—think expressways and industrial corridors—are transforming smaller cities and creating fresh job hubs outside big metros.
Commercial spaces are also getting a boost from improved connectivity and digital upgrades.
With all this demand, housing prices might climb 5-10% each year over the next few years.