NEW DELHI: The civil aviation ministry is conducting a study to explore relaxation of height restrictions for real estate projects, as the Centre looks to enable faster vertical development in cities amid land constraints, civil aviation minister Kinjarapu Ram Mohan Naidu said on Friday.
According to him “Indian real estate market is expected to reach USD 1 trillion by 2030 driven by structural reforms, enhanced transparency and rising investor confidence. It has the potential to expand to USD 5-7 trillion by 2047.”
He was speaking at the National Urban and Real Estate Development Conclave-2026 held in New Delhi on Friday.
Naidu indicated that horizontal expansion of housing and construction will face limitations in the coming years due to space constraints, making vertical growth a key requirement, for which the government will have to make amendments.
The minister added that a comprehensive study is being conducted by an external agency and its recommendations would guide future changes in the regulatory framework. He however, did not elaborate on possible changes.
Naidu also said the government expects a sharp increase in airport infrastructure, with nearly 50 more airports likely to be added over the next five years and the total potentially reaching 200 airports over the next 20 years. He said such expansion would have multiplier effects on real estate, construction and housing.
The minister also flagged the need to accelerate rental housing, saying housing preferences are evolving globally and India’s young population is increasingly open to rental formats.
Tokhan Sahu, minister of state for ministry of housing & urban affairs, pointed out that in the affordable housing segment, the industry should be proactive as this area remains filled with challenges.
Parveen Jain, president, NAREDCO said that the real estate and construction sector need policies that support the industry.
Niranjan Hiranandani, chairman, NAREDCO said, “urban India today houses nearly 37% of our population and contributes almost 65% of our GDP. By 2047, more than half of India will be urban. The question before us is simple but profound: will we allow urbanisation to happen to us – or will we shape it responsibly and strategically?”
