New Delhi, February 13 India aims to have 50 more airports in the next five years, which will also create significant opportunities for the country's real estate sector, Civil Aviation Minister K. Rammohan Naidu said on Friday.
Noting that airports are the "foundation" for the real estate sector, the minister also said that he is actively working to address issues related to height restrictions for buildings near airports without compromising on aviation safety.
India is one of the world's fastest-growing civil aviation markets, and currently, there are 165 operational airports in the country.
On 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 the real estate industry body, Naredco, in the national capital.
Highlighting the growth potential of the country's real estate sector, he said that the segment is projected to be worth USD 1 trillion by 2030 and further increase to be valued at USD 5-7 trillion by 2047.
He also emphasized the importance of focusing on the quality of living along with the standards of living in real estate development.
Focusing on the standards of living will create assets, and with a focus on the quality of living, "we will be creating well-being," the minister said, amidst concerns about air pollution.
He also stressed the need to focus on rental housing and develop projects that can be rented out to young people.