NEW DELHI: The Civil Aviation Ministry is conducting a study to explore relaxation of height restrictions for real estate projects as the Center seeks to enable faster vertical development in cities amid land constraints, Civil Aviation Minister Kinjarapu Ram Mohan Naidu said on Friday.According to him, “India’s real estate market is expected to reach $1 trillion by 2030, driven by structural reforms, greater transparency and rising investor confidence. The market has the potential to expand to $5-7 trillion by 2047.”
He was speaking at the National Urban and Real Estate Development Conclave-2026 in New Delhi on Friday.
Naidu indicated that horizontal expansion of housing and construction will face constraints in the coming years due to lack of space, making vertical growth a key requirement for which the government will have to make changes.The minister added that a comprehensive review is being conducted by an external agency and its recommendations could guide future changes to the regulatory framework. However, he did not discuss possible changes.
Naidu also said the government expects a sharp increase in airport infrastructure, with nearly 50 more airports likely to be added in the next five years and the total possibly reaching 200 airports in the next two decades. He said such an expansion would have multiplier effects on real estate, construction and housing.
The minister also emphasized 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 at the Ministry of Housing and Urban Affairs, pointed out that the affordable housing segment sector must be proactive as this area is still full of challenges.
Parveen Jain, president, NAREDCO, said the real estate and construction industry needs policies that support the sector.
Niranjan Hiranandani, Chairman of NAREDCO, said: “Urban India today is home to 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 yet profound: will we allow urbanization to happen to us – or will we shape it responsibly and strategically?”
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