India Real Estate Market Size, Share, Trends and Forecast by Property, Business, Mode, and Region, 2025-2033

India Real Estate Market Size, Share, Trends and Forecast by Property, Business, Mode, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A5495

India Real Estate Market Size and Share:

The India real estate market size was valued at USD 482 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 1,184 Billion by 2033, exhibiting a CAGR of 10.50during 2025-2033. West and Central India currently dominates the market, holding a significant market share of over 32.0% in 2024. The increasing infrastructure investments, rapid urbanization, growing demand for affordable housing, expansion of the e-commerce sector, favorable government policies, expanding digitalization, and increasing foreign direct investments are some of the major factors augmenting India real estate market share, creating opportunities across residential, commercial, industrial, and logistics segments.

Report Attribute 
Key Statistics
Base Year
2024
Forecast Years
2025-2033
Historical Years
2019-2024
Market Size in 2024
USD 482 Billion
Market Forecast in 2033
USD 1,184 Billion
Market Growth Rate 2025-2033 10.50%


The market is primarily driven by rapid urbanization, which is increasing the demand for both residential and commercial spaces across metropolitan and tier II cities. According to an industry report, urban areas in India are projected to house nearly 600 Million people by 2026, accounting for 40 percent of the country’s population, an increase from 31 percent in 2011. With urban regions expected to contribute almost 70 percent of the national GDP, the real estate sector stands to benefit from heightened activity in housing, retail, office, and infrastructure development. This shift is prompting developers to focus on high-density, mixed-use projects and transit-oriented development to cater to the rising urban population. Additionally, growing middle-class income levels are supporting homeownership aspirations and driving India real estate market demand. Moreover, the implementation of government initiatives is enhancing transparency and fostering investor confidence, which is positively impacting the market.

India Real Estate Market Size

In addition to this, the digitalization of property transactions and increased use of proptech are streamlining operations and improving buyer experience, which is facilitating the market. Furthermore, infrastructure development, including metro expansions, highways, and industrial corridors, is creating new growth opportunities for real estate activity. According to an industry report, infrastructure investment in India has seen a sharp increase, with both public and private sector participation playing a crucial role in shaping this upward trajectory. The Union Budget for 2023–24 allocated INR 10 Lakh Crore (about USD 120.19 Billion) toward infrastructure spending. This large-scale investment is directly influencing real estate dynamics by enhancing connectivity, reducing travel time, and making peripheral regions more accessible for residential, commercial, and industrial projects. Improved transport networks are increasing land values along key corridors, thereby encouraging developers to expand into emerging micro-markets. Also, the growth in co-working and flexible office spaces, along with increasing foreign direct investment, are fueling market expansion.

India Real Estate Market Trends:

Expansion of the E-commerce Sector Driving Demand for Warehousing Facilities

The growth of the e-commerce industry is fundamentally transforming the real estate landscape, especially in the logistics and warehousing segment. According to an industry report, India's e-commerce market is projected to grow from INR 4,416.68 Billion (about USD 53.07 Billion) in 2024 to INR 7,591.94 Billion (about USD 91.23 Billion) by 2029 at an annual growth rate of 11.45%. User numbers are expected to reach 501.6 Million, with penetration rising from 22.1% in 2024 to 34.0% by 2029. As online retail platforms penetrate tier II and tier III cities, companies are rapidly expanding their delivery networks, resulting in a rise in demand for strategically located warehouses. Last-mile delivery hubs are becoming essential for meeting consumer expectations around fast shipping and efficient returns. The shift in consumer behavior toward online shopping, accelerated by the pandemic, is prompting e-commerce companies to seek large-format warehousing spaces near urban consumption hubs. In addition to this, developers and logistics players are now investing in Grade A warehouses with advanced racking systems, automation capabilities, and multi-level storage infrastructure to cater to these needs. Additionally, the growing presence of third-party logistics providers is further enhancing this India real estate market trend.

Rise of Data Centers due to 5G Rollout supporting Real Estate Market

India's increasing digitalization and the implementation of 5G technology are propelling demand for data centers, creating a new sub-segment within the commercial real estate market. Telecom companies, cloud service providers, and global tech firms are investing heavily in building and leasing data storage infrastructure. Besides this, with the growing use of telecommunication services and the implementation of 5G and data localization norms, there is a rise in the need for data storage facilities. As of October 2024, 5G services have been deployed across all Indian States and Union Territories, covering 779 out of 783 districts. Furthermore, over 4.6 lakh 5G Base Transceiver Stations (BTSs) have been installed nationwide, according to the Department of Telecommunications. This, in turn, is positively influencing the demand for resilient data center infrastructure and consequently bolstering the India real estate market growth. Real estate developers are entering partnerships with technology firms to develop purpose-built data center parks, often incorporating high-grade security systems, redundant power sources, and advanced cooling mechanisms. The evolving demand profile is encouraging policy support and incentivizing investments, leading to the emergence of data centers as a high-potential asset class in the Indian real estate market.

The Real Estate Sector as a Leading Employment Generator

The Indian real estate industry continues to rank among the top employment-generating sectors in the country, providing direct and indirect jobs across construction, architecture, engineering, urban planning, facility management, and allied services. This is creating a positive India real estate market outlook. An industry report states that the real estate sector employed over 71 Million people in India in 2023, accounting for more than 18% of the total workforce, with job creation expected to rise further. With increasing urbanization and the central government's focus on infrastructure development, the demand for a skilled and semi-skilled workforce is expanding. Projects related to affordable housing, smart cities, and commercial developments are driving the absorption of labor across multiple layers of the economy. In addition to traditional construction roles, the sector is also creating employment in newer areas like green building design, digital project management, and real estate finance. Furthermore, technology adoption in project execution and sales processes is prompting demand for tech-savvy professionals. As the sector becomes more organized and regulated, especially with the enforcement of RERA, formal employment, and structured training programs are also becoming more prevalent, contributing to long-term workforce stability.

India Real Estate Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the India real estate market, along with forecasts at the regional levels from 2025-2033. The market has been categorized based on property, business, and mode.

Analysis by Property:

  • Residential
  • Commercial
  • Industrial
  • Land

Residential leads the market with around 78.8% of market share in 2024. The segment is fueled primarily by fast-paced urbanization, an expanding middle class, and government support in the form of initiatives such as Pradhan Mantri Awas Yojana (PMAY) and tax benefits on home loans. Countries such as Mumbai, Bengaluru, Delhi NCR, and Pune are attracting consumers due to infrastructure improvement and employment opportunities. Tier 2 and Tier 3 cities are also witnessing a growth in residential projects driven by improved connectivity and access to technology. The segment ranges from affordable housing to luxury flats, with increased demand for gated communities and green buildings. Developers are looking at how to maximize space, add smart features, and enhance community life. The residential segment's resistance to economic downturns showcases its status as both a consumption good and a long-term investment, making it a crucial component of India's real estate market expansion.

Analysis by Business:

India Real Estate Market By Business

  • Sales
  • Rental

Sales leads the market with around 70.0% of market share in 2024. The segment is largely dependent on the sale of units to create revenues, maintain cash flows, and finance current or upcoming projects. Residential sales, especially, act as a barometer of consumer confidence and economic activity. Developers tend to base their entire business model on pre-launch and under-construction sales to get early bookings and achieve financial sustainability. In metros and new cities, increasing demand for housing, commercial offices, and retail space has increased sales volumes, aided by factors such as reduced home loan rates, enhanced regulatory transparency under RERA, and tax incentives. Real estate sales also impact allied industries like construction materials, home furnishings, and financial services. Consistent sales performance not only generates profitability but also earns credibility among stakeholders. Hence, it is an essential segment of long-term business growth in the Indian real estate sector.

Analysis by Mode:

  • Online
  • Offline

Offline leads the market with around 84.2% of market share in 2024. Offline mode provides confidence and helps high-value transactions. Even after the emergence of online platforms, a significant number of buyers use on-site visits and direct personal interactions with developers and local brokers to make decisions. Physical presence lends confidence regarding the quality of the property, locational benefit, and legalese—which are more difficult to establish via the Internet. Offline channels also close the gap for Tier 2 and Tier 3 city buyers, where digital literacy and internet penetration are relatively low. Traditional marketing mediums such as hoardings, local events, and property fairs are commonly utilized by agents and builders to attract prospective buyers. Further, the offline channel provides for more price negotiation, personalization, and after-sales support. This mode is still strongly rooted in the Indian property-purchasing culture, most specifically residential purchases, where tangibility and trust dominate customer decision-making.

Regional Analysis:

  • North India
  • West and Central India
  • South India
  • East India

In 2024, West and Central India accounted for the largest market share of over 32.0%, driven by dominant urban centers like Mumbai, Pune, Ahmedabad, Indore, and Bhopal. Western India, particularly the Mumbai Metropolitan Region (MMR) and Pune is a top driver of residential as well as commercial real estate demand based on robust economic activity, industrial presence, and connectivity. Both cities have a huge working population that fuels demand for affordable as well as high-end housing. Gujarat has also become a hotbed of real estate with expansion in logistics and manufacturing fueling expansion. In Central India, Indore and Bhopal are gaining popularity with infrastructure development, increasing disposable incomes, and increasing activity from realty developers. These markets are aided by ongoing metro developments, smart city plans, and enhanced ease of doing business. Their location and improving urban infrastructure provide Western and Central India with significant investment and growth of the market.

Competitive Landscape:

Indian real estate is characterized by increased competition in the residential, office, and retail segments. Players are focusing on strategic land procurements, the quality of their construction, and project completion timing to gain purchasers' confidence within a market space where customer belief is pivotal. Regulatory policies such as RERA and GST lend an added level of transparency and regulation, which reshapes business, conduct, and competition. Further, Tier 1 cities are leading the demand and supply. Still, Tier 2 and Tier 3 cities are gaining traction with better infrastructure, smart city initiatives, and increasing disposable incomes. Moreover, technological developments are also impacting the competitive advantage, with virtual tours, artificial intelligence-powered lead generation, and data analytics fast becoming the norm.Buyer price sensitivity is encouraging developers to provide value-focused propositions such as amenity-rich living and flexible payment terms. Amid growing urbanization and shifting consumer expectations, firms that balance affordability, quality, and innovation are better positioned to sustain and expand their market presence.

The report provides a comprehensive analysis of the competitive landscape in India real estate market with detailed profiles of all major companies, including:

  • Brigade Enterprises Limited
  • DLF Limited
  • Experion Developers Private Limited
  • Godrej Properties Limited (Godrej Industries Limited)
  • Jaypee Infratech Ltd. (Jaiprakash Associates Limited)
  • Lodha Group
  • Merlin Group
  • Oberoi Realty Limited
  • PNC Infratech Limited
  • Prestige Estates Projects Limited
  • SOBHA Limited
  • Sunteck Realty Limited

Latest News and Developments:

  • January 2025: Square One launched Blackboxx Real and Blackboxx VR to transform real estate marketing. These immersive 3D and VR platforms offer interactive property experiences, enhance buyer engagement, and streamline sales. Designed for both offline and online use, the tools target mid- to high-end homebuyers across India and globally.
  • January 2025: ASK Property Fund and India Sotheby’s International Realty unveiled the INR 1,000 Crore ASK Curated Luxury Assets Fund, targeting luxury residential and holiday home projects across India. Registered with SEBI, the fund aims to attract high-net-worth investors and capitalize on growing demand for premium real estate.
  • January 2025: Equinox India Developments merged with NAM Estates to form Embassy Developments Limited, one of India's largest publicly listed real estate firms. The merger expands its residential and commercial portfolio, strengthens presence in South India and Tier-2 cities, and positions it as a major player in India’s property market.
  • November 2024: Magicbricks launched its 'Site Visit Product' to simplify property selection by curating options based on buyer preferences and managing visit logistics. The service has enabled over 16,000 site visits and 1,000 bookings across 350+ projects, enhancing decision-making efficiency and supporting developers in engaging serious buyers.
  • August 2024: Godrej Properties launched the #WhereTrustResides campaign, featuring a 9-year-old character, Diya, to simplify and humanize the home-buying journey. The initiative, focused on trust and transparency, reached over 100 million users online and highlights Godrej’s commitment to quality, design, and community in real estate.

India Real Estate Market Report Scope:

Report Features Details
Base Year of the Analysis 2024
Historical Period 2019-2024
Forecast Period 2025-2033
Units Billion USD
Scope of the Report

Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: 

  • Property
  • Business
  • Mode
  • Region
Properties Covered Residential, Commercial, Industrial, Land
Businesses Covered Sales, Rental
Modes Covered Online, Offline
Regions Covered North India, West and Central India, South India, East India
Companies Covered Brigade Enterprises Limited, DLF Limited, Experion Developers Private Limited, Godrej Properties Limited (Godrej Industries Limited), Jaypee Infratech Ltd. (Jaiprakash Associates Limited), Lodha Group, Merlin Group, Oberoi Realty Limited, PNC Infratech Limited, Prestige Estates Projects Limited, SOBHA Limited, Sunteck Realty Limited, etc.
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India real estate market from 2019-2033.
  • The India real estate market research report provides the latest information on the market drivers, challenges, and opportunities in the market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India real estate industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The real estate market in India was valued at USD 482 Billion in 2024. 

The key factors driving the market by rapid urbanization, rising disposable incomes, favorable government policies, and strong demand from the middle-class segment. Increased infrastructure development, foreign direct investments (FDI), and the expansion of IT and manufacturing sectors are also fueling demand for residential, commercial, and industrial spaces across major cities.

The real estate market in India is projected to exhibit a CAGR of 10.50% during 2025-2033, reaching a value of USD 1,184 Billion by 2033. 

Residential dominate the market due to growing urban population, affordable housing schemes, increasing nuclear families, and easier access to home loans. The growing demand is particularly strong in Tier 1 and Tier 2 cities, which is supported by rising income levels of the consumers and an improved standard of living. 

Some of the major players in the India real estate market include Brigade Enterprises Limited, DLF Limited, Experion Developers Private Limited, Godrej Properties Limited (Godrej Industries Limited), Jaypee Infratech Ltd. (Jaiprakash Associates Limited), Lodha Group, Merlin Group, Oberoi Realty Limited, PNC Infratech Limited, Prestige Estates Projects Limited, SOBHA Limited, and Sunteck Realty Limited, among others.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
India Real Estate Market Size, Share, Trends and Forecast by Property, Business, Mode, and Region, 2025-2033
Purchase Options Discount
Offer
Benefits of Customization
  • Personalize this research
  • Triangulate with your data
  • Get data as per your format and definition
  • Gain a deeper dive into a specific application, geography, customer, or competitor
  • Any level of personalization

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials