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Perspective:
Perspective
16 Sep 2025
15 minute read

Building beyond basics: Innovations transforming India’s living spaces

September 2025

This report focuses on the residential sector of the building materials industry, specifically the period after construction and before residents occupy the buildings. India’s construction industry is driving a surge in demand for related sectors such as furniture, electricals, paints, plumbing and flooring.

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Industry outlook

India’s home and household sector is entering a new phasewhere consumers shift from price-led to value-driven decisions.

Growth Drivers:

The Indian residential construction sector, estimated at about US$252 billion in FY2025 and expected to reach US$350 billion in FY2030, is a strong propeller for the home and household market.

The smart home market in India is expected to post a CAGR of approximately 30 percent between 2025 and 2030, fuelling growth for smart and connected electrical devices.

Urbanisation in India is expected to hit 40 percent by 2030, with the urban population almost doubling to 951 million by 2050.

Economic forecasts suggest that the number of super-rich households in India will increase fivefold from current levels to reach 9.1 million by 2030-31.

Key insight

Building material (residential sector) India market (US$ billion) shows a projected growth of 9.6% CAGR.

 

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Anand Ramanathan

Anand Ramanathan

Partner, Consumer Industry Leader, Deloitte South Asia
Praveen Govindu

Praveen Govindu

Partner, Deloitte India

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