India Aims 50 More Airports In 5 Years : K Rammohan Naidu

New Delhi :  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 the "scaffolding" for the real estate sector, the minister also said that he is working actively 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 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 organised by real estate industry body Naredco in the national capital.

Highlighting the growth potential of the country's real estate sector, he said 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 emphasised the importance of focusing on quality of living along with the standards of living in real estate development.

The focus on standards of living will create assets and with the focus on quality of living "we will be creating well being", the minister said amid issues of air pollution.

He also stressed on the need to focus on rental housing and develop projects that can be rented out to youngsters.