India’s real estate sector to grow multifold to about $6 trillion by 2047: Report
NEW DELHI: India’s real estate sector is expected to expand to $5.8 trillion by 2047 when the country celebrates its 100th year of Independence, according to a report. The current real estate is estimated to be about $477 billion.The report released by real estate consultant Knight Frank India in association with the National Real Estate Development Council (NAREDCO) stated this estimated real estate output value will contribute 15.5 per cent to the total economic output in 2047 from existing 7.3 per cent. Private equity investments in the Indian real estate sector have consistently grown over the past two decades. Projections for 2023 indicate that PE investments in Indian real estate are poised to reach $5.6 billion, reflecting a YoY growth of 5.3 per cent. On India’s overall economy, t...