Over the years, the Indian real estate market has played a pivotal role in bolstering the nation’s economy. This industry encompasses a broad spectrum of activities, including the development of infrastructure, retail and industrial spaces, as well as residential and commercial properties. As a major engine driving India’s economic progress, the real estate sector significantly influences the overall GDP. This contribution is underscored by a recent report from CREDAI, the leading body for builders in India. According to the latest findings from the Confederation of Real Estate Developers’ Association (CREDAI), the market size of real estate is anticipated to reach a staggering $1.3 trillion, representing approximately 13.8% of GDP by FY 2034. Furthermore, projections indicate that by FY 2047, this figure could balloon to $5.17 trillion, accounting for around 17.5% of GDP. The report also foresees a substantial increase in housing demand, estimating it at Rs 7 crore by 2030. "With the increasing demand for real estate, the sector holds the potential to be the primary economic pillar of this country,” remarked Manoj Gaur, President of CREDAI-NCR and CMD of Gaurs Group. Delhi-NCR, renowned as one of the country’s largest real estate hubs, has experienced a noteworthy 3% rise in housing sales, cementing its significance in this positive trend. The overall growth of the economy, complemented by various macroeconomic indicators such as employment rates, government and banking revenues, and escalating per capita income, is deeply influenced by the dynamics of the Indian real estate market. The current value of the real estate market is pegged at 24 lakh crore, with residential properties constituting 80% of this valuation, whereas commercial properties account for the remaining 20%. The residential segment is gaining aspirational growth among Indian homebuyers amidst a surge in housing demands. "The residential real estate is the key driver of the construction sector in India,” stated Ankush Kaul, Chief Business Officer of Ambience Group, reflecting on the sector's immense contribution. The residential market is vital for stimulating the economy and plays a crucial role in generating local infrastructure improvements, such as schools, roads, and utilities. A standout example of this phenomenon is Millennium City in Gurgaon, which exemplifies how enhanced infrastructure can invigorate the local economy and uplift lifestyles. "We envision that the rising housing demands will benefit homebuyers and investors, thus impacting the country’s overall economic growth,” he added. According to Sanchit Bhutani, Managing Director of Group 108, "Commercial real estate encompasses large-scale infrastructure developments, including office buildings, malls, hotels, and industrial parks, generating jobs in construction, architecture, property management, and various other sectors.” Cities that boast high-quality commercial real estate often attract both domestic and international firms, fostering business growth and enhancing productivity. Among these flourishing cities, Noida is making a name for itself as a vibrant hub rich in commercial opportunities. Local enterprises in this area contribute significantly to the GDP and overall national revenue as they thrive and expand. Moreover, the CREDAI report indicates that 61% of residential supply is priced above Rs. 45 lakh, with an estimated 87.4% of housing demand expected to be met by homes valued over Rs 45 lakh by 2030. "India’s GDP owes much of its growth to both residential and commercial real estate sectors, which invigorate economic activity, foster job creation, enable wealth generation, and bolster the nation’s financial markets and infrastructure,” said Trisol RED MD Pawan Sharma, highlighting the sector's integral role in propelling India towards Viksit Bharat. Nayan Raheja of Raheja Developers noted, "India’s urbanization rate has been steadily increasing and is projected to reach 40% by 2030.” He emphasized that as urbanization progresses, there will be a corresponding rise in demand for housing, commercial and retail spaces, and improved infrastructure. The premium residential and commercial real estate sectors in India are poised to attract both domestic and foreign investments. This investment influx is expected to bolster productivity and spur company growth, ultimately resulting in significant economic expansion as businesses flourish, as stated by Vidush Arya, Head of Strategy at Orris Group. "The residential real estate sector significantly boosts India’s economic growth and catalyzes the infrastructural development in the nearby areas,” added Amit Modi, Director of County Group. Cities like Noida are increasingly appealing to both investors and homebuyers, driven by the availability of high-end residential properties equipped with modern amenities. This trend not only enhances the quality of life for residents but also bolsters the local economy, leading to the expectation that the increased demand for housing will positively influence the nation’s economic growth in the long term.