Indian Real Estate Market Set to Hit $1.5 Trillion by 2034: Knight Frank

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    A joint study by Knight Frank India and the Confederation of Indian Industry (CII) predicts that the Indian real estate market will reach $1.5 trillion by 2034, making up 10.5% of the country’s economic output.

    The report, titled ‘Indian Real Estate: A Decade from Now,’ forecasts that the residential sector will lead with a value of $906 billion, followed by offices contributing $125 billion. Additionally, land for manufacturing is expected to generate $28 billion, and warehousing could yield $8.9 billion in revenues.

    The growth of India’s economy in the next decade will depend on factors like a growing young population, increased domestic manufacturing, infrastructure development, and urban expansion. With favorable conditions, India’s GDP could potentially hit $10.3 trillion by 2034.

    Gulam Zia, Senior Executive Director at Knight Frank India, believes that the real estate sector will play a crucial role in India’s economic growth in the coming years.

    In 2023, the real estate sector was valued at around $482 billion, contributing 7.3% to the total economic output.

    Also read: Demand for Industrial and Warehousing Spaces Up 23% in Jan-Mar Across Top 19 Cities: Study

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