February 17, 2026
India’s real estate sector is on track to become the nation’s primary engine for employment, with a new report projecting that the industry will support nearly 100 million jobs by 2030. The joint study, titled “The Role of Real Estate in Viksit Bharat @2047” by KPMG and NAREDCO, paints a picture of a sector undergoing a massive three-fold expansion over the next five years.
A massive leap in employment
The report estimates that the current employment base in real estate stands at approximately 70 million. By 2030, this figure is expected to hit the 100 million mark, spanning roles in construction, architectural design, sales, and professional services.
“Real estate is where national ambition becomes real,” said Mr. Parveen Jain, President of NAREDCO. He emphasized that the sector is no longer just about building structures but about shaping economic outcomes for millions of families.
The ₹88 Trillion growth story
The financial projections are equally staggering. From a current valuation of roughly ₹26.4 trillion in 2025, the Indian real estate market is forecast to surge to ₹88 trillion by 2030. Looking further ahead to India’s centenary in 2047, the market could scale to a colossal.
This growth is expected to push the sector’s contribution to the national GDP from the current 7% to nearly 15% by 2047. Mr. Neeraj Bansal, Partner at KPMG India, noted that as India’s urban footprint deepens, with 900 million people expected to live in cities by 2047, the demand for smart infrastructure and quality housing will be the primary driver of this wealth creation.
The multiplier effect
The report highlights that the real estate boom acts as a “multiplier” for the broader economy. Every new housing or commercial project creates a massive demand across a wide supply chain, including:
- Manufacturing: Cement, steel, bricks and glass.
- Services: Logistics, financial lending, and facility management.
- Technology: Smart home systems and digital property management tools.
Urbanization and policy push
The shift is being fueled by rapid urbanization and supportive government policies. With nearly 10-11 million people moving to urban regions annually, the demand for residential units is projected to hit 0.6 million units per year by 2030.
While the outlook is optimistic, the report also notes that achieving these targets will require a continued focus on green building practices, digital land records, and addressing affordability to ensure that the “100 million jobs” goal translates into sustainable, long-term prosperity for the Indian workforce.
Also read – Massive construction debris scandal hits Mumbai redevelopment projects, 500 sites halted
Disclaimer: This news report summarizes findings from the 2026 KPMG-NAREDCO study. It is intended for informational purposes only and does not constitute financial, investment or legal advice.
Source – ET Realty
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