Mumbai, Oct. 8 -- The value of housing projects under construction in India rose to $430 bn in 2025 from $235 bn in 2019 and $45 bn in 2009, according to a report by the Confederation of Real Estate Developers Associations of India (CREDAI) and property consultant Anarock. The report attributed the increase to strong housing demand following the Covid-19 pandemic.
The report, titled Indian Real Estate - Growth Trajectory, Sectoral Outlook and Geopolitical Crosscurrents, was released at CREDAI's NATCON conference in Kolkata. It said the total value of real estate under construction across residential, office, retail and warehousing increased from $94 bn in 2009 to $503 bn in 2025, representing more than a five-fold rise.
Residential projects accounted for 85 per cent of the total construction value in 2025, compared with 48 per cent in 2009. The change reflected the scale of housing demand and the relatively smaller, although expanding, base of commercial asset classes. Office properties remained the largest commercial category by value, while warehousing grew from a negligible base in 2009 to more than $10 bn in 2025.
Anarock chairman Anuj Puri said the sector remained resilient despite the West Asia crisis. Residential sales value stayed above Rs. 1.3 tn for seven consecutive quarters, while Grade A office absorption remained firm. Global Capability Centres accounted for about 45 per cent of total office leasing in the first half of 2026, according to the report.
CREDAI national president Shekhar Patel said the sector had expanded from a $120 bn market in 2017 to an estimated $600 bn currently. It is projected to reach $1 tn by 2030 and nearly $5.8 tn by 2047. CREDAI's three-day conference is being held from October 2 to 4, with more than 1,000 builders participating. The organisation has over 13,000 developer members.
Published by HT Digital Content Services with permission from Construction World.