Office and industrial & warehousing stock to cross 2 billion sq ft by 2047: CREDAI-Colliers

CREDAI National president Shekhar Patel speaking at the CREDAI NATCON in Singapore

India’s real estate sector is set to scale up office and industrial assets beyond 2 billion square feet by 2047 even as the retail, hospitality and alternate segments can potentially grow multi-fold levels, according to a joint report by Confederation of Real Estate Developers Association of India (CREDAI) and Colliers.

The report “Indian real estate: Fostering equity and fueling economic growth”, which was released at the CREDAI’s 23rd NATCON in Singapore on September 11, also highlighted that annual housing sales could potentially double to 1 million units by 2047.

The latest report revolves around the five structural forces—urban expansion, infrastructure development, demographic shifts, digital transformation, and sustainability imperatives. These forces are converging to unlock new dimensions of opportunity, innovation, and resilience across real estate asset classes in the country.

It projects Indian real estate to become a $10 trillion industry by 2047, contributing nearly one-fifth of the country’s GDP. The report also projected that the share of REITs in real estate market capitalization is likely to be at 40-50 percent by 2047, up from current levels of 10 percent.

Shekhar Patel, President, CREDAI said that by 2047, Indian real estate will not just be measured in square feet or asset values—it will be defined by the quality of life we create for millions of citizens.

“The sector is uniquely positioned to reimagine India’s urban future: designing climate-resilient cities, building affordable yet aspirational homes, and nurturing ecosystems that foster innovation and inclusivity. As CREDAI, we see real estate as the foundation of India’s journey toward becoming a developed economy—where every new home, office, or warehouse contributes to social equity and sustainable growth,” he said.

Anchored on the theme “Real Estate Rising, Bharat Soaring: $30 Trillion to Vision”, the CREDAI convention brought together developers, investors, policymakers, financial experts, and global innovators.

CREDAI emphasised the sector’s pivotal role in shaping India’s journey towards becoming a developed economy by 2047.

The inaugural day of NATCON 2025 witnessed the release of Colliers-CREDAI industry report and the signing MoU with BCA International (Singapore) that aims to foster knowledge exchange on green building practices, modern construction methods, workmanship quality, and innovative technologies through specialised training and site visits in both India and Singapore.

Addressing the gathering at NATCON, Shilpak Ambule, High Commissioner of India to Singapore, said that India and Singapore are shaping a bold vision for the cities of tomorrow, grounded in sustainability, inclusivity, and innovation.

“Over the past year, our partnership has grown across skilling, advanced manufacturing, connectivity, and smart urban planning. I urge Indian real estate developers to go beyond constructing buildings and create spaces that inspire, become cultural landmarks, and attract tourism,” he said.

Ambule added that by combining Singapore’s expertise in smart cities and affordable housing with India’s scale and energy, developers have a unique opportunity to build integrated townships, industrial hubs, and logistics networks that are future-ready, innovative, and empower communities—paving the way for India’s journey toward a developed nation by 2047.

Commenting on the report, Badal Yagnik, Chief Executive Officer, Colliers India, said that India’s real estate sector is expected to scale into a $5-10 trillion market by 2047.

“Interestingly, both the Grade A office and industrial stock of the country is expected to surpass 2 billion sq ft mark by 2047. Residential sales could meanwhile double-up to 1 million units annually. Additionally, the ongoing spur in data centers, senior living facilities, retail malls and hotels are reflective of demand being driven by demographically diverse needs,” he said.