India may require nearly 30,000 acres of additional campus land and around 2.7 billion square feet of academic infrastructure by 2035 to accommodate growing student demand, according to a report released Thursday. The projected expansion is being described as one of the largest institutional real estate opportunities globally over the coming decade.
The analysis by ANAROCK Capital estimates that achieving the National Education Policy (NEP) 2020 target of a 50 per cent gross enrolment ratio (GER) in higher education by 2035 will require approximately 25 million additional seats. This expansion is expected to generate about $100 billion in construction-led investment for academic facilities alone, excluding costs related to land acquisition and student housing infrastructure.
According to the report, demographic trends, rising enrolments, globalisation of education, and regulatory reforms are key drivers behind the anticipated growth in academic infrastructure demand. It characterised the projected scale of development as potentially the largest higher-education infrastructure expansion market globally.
Data cited in the report indicates that higher education enrolments in India increased from 27 million in 2010–11 to 45 million in 2022–23. Over the same period, the number of universities rose from 760 in 2015 to 1,338 in 2025, while total higher education institutions increased from 51,534 to 70,018.
Shobhit Agarwal, CEO of ANAROCK Capital, said provisions in the Union Budget 2026 to support the establishment of five university townships reflect recognition of the existing gap in academic infrastructure capacity.
Regulatory changes have also enabled foreign higher education institutions ranked within the global top 500 to establish campuses in India without affiliating with domestic universities, according to Aashiesh Agarwaal, Senior Vice President of Investment Advisory at ANAROCK Capital.
The report notes that three global university campuses have already begun operations in India, while thirteen additional institutions have announced plans to establish campuses. These include Lancaster University and the University of Liverpool from the United Kingdom, the Illinois Institute of Technology from the United States, and Italy’s Instituto Europeo di Design.
Several states have initiated policy measures to attract investment in higher education infrastructure. Uttar Pradesh has introduced stamp duty exemptions and capital subsidies for higher education institutions. Gujarat’s GIFT City has developed a framework for international campuses with shared academic infrastructure, while Maharashtra has proposed a 250-acre “Educity” near Navi Mumbai International Airport with commitments from five foreign higher education institutions.
The report indicates that continued demographic momentum, policy support, and international academic participation are likely to shape India’s higher education infrastructure expansion over the next decade.
