In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).

In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation and wealth generation, says Gulam Zia, Senior Executive Director - Research, Advisory, Infrastructure, and Valuation, Knight Frank India. “The Government’s focus on employment-generating Global Capability Centres (GCCs) will play a crucial role. These cities are benefiting from the growth of GCCs and data centres, both of which are major job creators. While the stock market has seen some subdued performance recently, job creation remains on track, supporting the sector’s growth.”