India’s real estate sector is at a pivotal stage of transformation, with growing economic ambitions, rising expectations of homebuyers and the rapid adoption of artificial intelligence (AI) reshaping the industry, Confederation of Real Estate Developers’ Associations of India (CREDAI) leaders said at a press conference ahead of NATCON 2026 in Kolkata.
The three-day convention, focused on AI and innovation, is being held from October 2 to 4 at ITC Royal Bengal, marks the first time in more than a decade that CREDAI’s flagship annual event is being hosted in India rather than overseas. The convention was originally scheduled to take place in Amsterdam before being moved to India. More than 1,000 delegates from the real estate industry and allied sectors are expected to attend.
CREDAI chairman Boman Irani said the decision to host the convention in Kolkata reflected the city’s heritage, potential and the opportunities emerging in eastern India. The event, he said, would provide a platform to showcase the possibilities before the developer community and encourage greater engagement with the state’s growth story.
The real estate sector, he said, had a significant role in India’s economic expansion, with its growth closely linked to infrastructure development, employment generation and urbanisation. He described the current phase as one of rapid evolution, in which the industry had an opportunity to contribute to the country’s long-term economic ambitions.
{{/usCountry}}The real estate sector, he said, had a significant role in India’s economic expansion, with its growth closely linked to infrastructure development, employment generation and urbanisation. He described the current phase as one of rapid evolution, in which the industry had an opportunity to contribute to the country’s long-term economic ambitions.
{{/usCountry}}Irani also stressed the importance of viewing challenges as opportunities. “Every adversity is an opportunity, and we should never let it go,” he said, underlining the need for the industry to adapt to changing circumstances and build partnerships that support growth.
CREDAI president-elect G Ram Reddy said the industry needed to look beyond immediate market cycles and consider how the real estate sector would contribute to India’s development over the coming decades. He pointed to the country’s economic ambitions for 2030 and the growing demands of urbanisation as reasons for developers to prepare for a significantly changing landscape.
The introduction of the Real Estate (Regulation and Development) Act (RERA) and the Goods and Services Tax (GST), Reddy said, had changed the operating environment for developers. Greater transparency, accountability and customer confidence had become central to the sector’s future.
He also highlighted the emergence of new growth engines, including global capability centres (GCCs), which are attracting businesses to cities such as Hyderabad, Mumbai and Pune. The expansion of such offices is generating demand for commercial real estate and supporting the development of urban infrastructure.
CREDAI president Shekhar Patel said artificial intelligence was emerging as a major opportunity for India and the real estate sector. He said AI could improve efficiency, reduce delays and help developers address challenges relating to construction quality, approvals and documentation.
“Technology takes growth exponentially,” Patel said, stressing that the industry needed to embrace technological solutions rather than treat them as an optional addition to existing processes.
He said CREDAI was focusing on AI adoption and innovation, with 12 AI companies already launched, particularly to address real estate-related requirements. He added that AI would change the nature of work and create new opportunities, even as it automated several existing processes.
The organisation’s focus on technology is also reflected in the AI and Innovation Hub at NATCON 2026, which brings attention to proptech, construction technology, smart buildings and digital solutions.
The leaders said the industry would need to combine technological innovation with responsible development, improved customer service and stronger collaboration with policymakers. As India approaches the centenary of Independence in 2047, the real estate sector will have to consider how it can contribute to sustainable cities, economic growth and better urban living.
The discussions also touched on global geopolitical uncertainties, including the West Asia crisis and developments in Europe. The CREDAI leadership emphasised the importance of strengthening domestic economic activity and making use of India’s growth opportunities.
With Kolkata hosting the convention, the event is expected to bring national attention to eastern India’s real estate market and create opportunities for dialogue between developers, investors, policymakers and other stakeholders.
The central message from the press conference was that the future of Indian real estate will depend not only on the pace of construction but also on trust, technology, innovation and the industry's ability to respond to the changing needs of a rapidly urbanising country.