New Delhi
India’s overall office stock is projected to surpass 2 billion square feet by 2047, driven by rising institutionalisation, growing demand, and strong economic prospects, according to a report released Thursday by Colliers and CREDAI.
Currently, India’s ‘Grade A’ office stock has grown more than three times since 2010 to exceed 800 million sq ft, fueled by demand from Global Capability Centres (GCCs) and domestic sectors such as technology, BFSI, engineering, and manufacturing. Industrial and warehousing stock has also expanded rapidly, crossing 250 million sq ft in 2025, supported by infrastructure growth, private investment, and evolving consumer needs.
The report highlights that demographic changes, higher incomes, and improved affordability are reshaping India’s housing market. Urban migration in the 2010s boosted demand in tier I cities, while reforms like the Real Estate Regulation Act (RERA) enhanced transparency. After a brief slump during the pandemic, housing sales rebounded, hitting record highs. By 2047, annual housing sales could double to 1 million units, supported by income growth and favorable policies.
Urbanisation will also intensify, with nearly 900 million people—53 percent of India’s population—expected to live in cities by 2050, compared to 37 percent today. This will require expansion into tier II and III cities and new growth corridors.
Colliers’ research head Vimal Nadar said India is reimagining urban living, noting infrastructure spending must keep pace with rapid urbanisation. The report estimates that real estate’s share of GDP, now 6–8 percent, could rise to 14–20 percent by 2047, making it a $10 trillion catalyst in an economy projected to reach $35–40 trillion.