India aims to have 50 more airports in the next five years, which will also create huge opportunities for the country’s real estate sector, Civil Aviation Minister K Rammohan Naidu said on Friday.
Noting that airports are a “scaffold” for the real estate sector, the minister also said he is actively working to resolve issues related to height restrictions for buildings near airports without compromising aviation safety.
India is one of the fastest growing civil aviation markets in the world and there are currently 165 operational airports in the country.
On an average, a new airport or a new terminal is built every 33 days, Naidu said.
He was speaking at the National Urban and Real Estate Development Conclave 2026 organized by real estate industry body Naredco in the national capital.
He highlighted the growth potential of the country’s real estate sector, saying that the segment is projected to be worth $1 trillion by 2030, with further growth valued at $5-7 trillion by 2047.
He also emphasized the importance of focusing on the quality of housing together with the standard of living in real estate development.
Focusing on living standards will create assets and with a focus on quality of life “we will create prosperity”, the minister said amid air pollution concerns.
He also emphasized the need to focus on rental housing and develop projects that can be rented to young people.