Ready-to-move, co-living and smart spaces: How next-gen buyers are redefining real estate in India

India has set an ambitious goal to become a fully developed economy by 2047 under Viksit Bharat @2047. The country plans to achieve this target through an economy of approximately Rs 3,171 trillion. The joint report by KPMG and NAREDCO titled “The Role of Real Estate in Viksit Bharat @2047” states that real estate is central to achieving this vision, as it converts economic ambition into real, lived capacity through homes, jobs, productive workplaces, and digital infrastructure—improving quality of life while raising productivity and competitiveness.

The report states that India currently has a real estate market valuation of approximately Rs 26.4 trillion in 2025, which is expected to increase to about Rs 88 trillion by 2030. The market has the potential to reach a value between Rs 440 trillion and Rs 617 trillion by 2047. Real estate GDP contributions are projected to rise from 7 to 8 per cent in 2025 to 12 to 14 per cent by 2030, and 14 to 20 per cent by 2047, emphasising the sector’s role as a growth and productivity enabler.

Add Zee Business as a Preferred Source

Employment and economic ripple effects of real estate

The report stated that currently, real estate supports roughly 70 million jobs across construction, sales, design, and related industries. By 2030, this number could approach 100 million. Every new project also drives demand for cement, steel, bricks, paint, glass, fittings, logistics, and services, spreading income across the economy.

How are next-gen buyers reshaping the demand?

The report highlights a significant shift in buyer profiles. Younger, first-time buyers are entering the market earlier and with new expectations. They prefer ready-to-move homes over under-construction projects, practical and smaller but smarter layouts, amenity-rich communities with gyms, parks, coworking spaces, and peripheral locations over central, expensive areas. Affordability and space are now prioritised over prestige addresses.

• Ready-to-move homes over under-construction projects
• Amenity-rich communities, including gyms, parks, coworking spaces, and cafes
• Practical layouts that are smaller but smarter
• Peripheral locations over central, expensive areas
• Affordability and space over prestige addresses

New housing formats: Senior living and co-living

The report highlights emerging housing formats to meet changing demographic needs:

Senior living: Retirement communities with medical facilities, activities, and social infrastructure; growing as life expectancy increases

Co-living: Shared apartments for young professionals offering privacy in private rooms with shared kitchens, gyms, and social spaces. The arrangement delivers lower costs per person (per-capita costs) and attracts workers who frequently change their job locations.

Shifts in developer strategies and buyer preferences

The real estate market is witnessing significant shifts in developer strategies, buyer preferences, and product offerings:

• Developers are increasingly offering price cuts, flexible payment plans, and ready-to-move homes, emphasising volume for value.
• Buyers are becoming more selective, driving demand toward stronger, branded developers with proven delivery track records.
• Real estate products are being upgraded, with a greater focus on better layouts, improved amenities, and green features that enhance everyday living, rather than simply increasing the number of units.

Urban migration and infrastructure growth

India’s urban population is expected to grow from 543 million in 2025 to roughly 675.5 million by 2035 and 900 million by 2047. The report notes that more than 50 per cent of the infrastructure required for 2050 is yet to be built, implying capital requirements exceeding Rs 218 trillion. As connectivity improves through large infrastructure projects, growth is expected to move outward from crowded mega-cities into peripheral and tier-II/III cities, spreading jobs, housing, and investment more evenly.

Women’s rising role in homeownership

An important demographic shift is the increasing participation of women in property ownership. In 2024, 120,000 transactions were registered solely in women’s names. In major cities, women account for around 22 per cent of transactions. This growth is supported by stamp duty concessions of 1–3 per cent in several states and small home-loan rate benefits offered by lenders. Rising financial independence and changing family structures are also driving women to buy homes in their own names.

Women’s homeownership has ripple effects: it provides collateral for business loans, strengthens economic independence, and increases bargaining power in family decision-making.

Inclusivity and formal workforce development

The report shows that real estate work opportunities help create inclusive employment opportunities. Women are increasing their participation in both construction work and real estate services. The NAREDCO MAHI initiative provides a women’s platform which enables networking, together with mentorship and leadership development. The NAREDCO NextGen youth organisation develops abilities which will prepare future leaders. The sector benefits from formal skill-training programs, which deliver worker certification to enhance quality.

The KPMG–NAREDCO report underscores that the real estate functions as an essential element which enables India to achieve Viksit Bharat @2047. The next generation of buyers, together with women homeowners and new housing designs, are transforming market demand, which compels developers to enhance their products while creating sustainable and inclusive urban development across India.