For research reasons, Knight Frank has assumed that the Indian economy would increase on average to a value of USD 36.4 trillion by 2047.
When India celebrates 100 years of independence in 2047, it is predicted that its GDP would be between USD 33 trillion and USD 40 trillion in size. According to a Naredco-Knight Frank analysis, the size of the Indian real estate market is predicted to increase more than 12-fold to USD 5.8 trillion by 2047 from USD 477 billion last year and would make up more than 15% of the nation’s overall economic output. ‘India Real Estate: Vision 2047′ is a study that was launched on Friday by the realtors’ association Naredco and the property advisor Knight Frank India.
“By 2047, the Indian real estate market is projected to grow to a value of USD 5.8 trillion, or USD 5,833 billion. From a current share of 7.3 percent, the predicted real estate production value will contribute 15.5% to the overall economic output in 2047, according to a statement from Naredco-Knight Frank.
When India celebrates 100 years of independence in 2047, it is predicted that its GDP would be between USD 33 trillion and USD 40 trillion in size. For research reasons, Knight Frank has assumed that the Indian economy would increase on average to a value of USD 36.4 trillion by 2047. The office real estate industry is projected to increase in size from USD 40 billion to USD 473 billion, while the warehousing sector is projected to increase from USD 2.9 billion to USD 34 billion.
“Real estate will be a major driver of the Indian economy’s significant growth by 2047. According to Rajan Bandelkar, president of NAREDCO India, “a multifold economic expansion will boost demand across all asset classes, including residential, commercial, warehousing, industrial land developments, etc. at a multiplier rate to accommodate the growing needs of the economy and consumer needs of the individual consumers.”
According to Niranjan Hiranandani, National Vice Chairman of Naredco, the favorable domestic economic climate with economic resiliency, supported infrastructural expansion is what is driving the northward boom in the Indian real estate market.
