Overview
- JLL projects a potential five‑fold expansion of the REIT ecosystem over the next four years from a current GAV of about ₹2.1 trillion.
- The office segment is expected to contribute roughly 65% of the projected expansion, with opportunities concentrated in the top seven cities.
- India’s listed REITs have scaled to five vehicles managing 174 million sq ft, as market capitalisation rose from ₹26,400 crore in FY20 to ₹1.6 trillion by September 2025 after crossing ₹1 trillion in FY25.
- Operating fundamentals remain firm with office occupancy around 91% and distribution yields holding near 6–7% through FY25 into the first half of FY26.
- SEBI’s September 2025 move to classify REITs as equity enables index inclusion and wider mutual fund participation, while listed REITs hold about ₹23,000 crore in untapped borrowing capacity for acquisitions.