New Delhi, June 19: India’s Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) have rapidly expanded over the past six years. According to a recent report, the market share of office REITs and industrial and warehousing InvITs is projected to reach 30% and 10%, respectively, by 2030.
The report from Colliers highlights that the growth trend in the office market is supported by the emergence of high-quality green-certified properties, strong tenant demand, and sustained investor interest.
As of March 2026, the current portfolio of listed REITs and InvITs has exceeded 195 million square feet, with an additional 37 million square feet in the pipeline. The operational portfolio of Indian REITs and InvITs is dominated by the office segment, which accounts for approximately 84% of the total, while retail and industrial warehousing segments are also gaining traction.
The report indicates that REITs and InvITs are significantly accelerating the institutionalization and democratization of India’s real estate sector. This is driven by increasing investor participation, strong operational performance of underlying assets, asset acquisitions, and supportive policies.
Currently, the Indian market features five office-focused REITs, along with one retail REIT and one industrial and warehousing-focused InvIT, showcasing the scalability of the REIT/InvIT structure in India.
Badal Yagnik, CEO and Managing Director of Colliers India, stated, “Approximately one-fifth of the ‘Grade A’ office stock in India’s top seven markets is currently under REITs. This indicates a growing inclination towards institutionalization and increasing investor confidence in income-generating assets.”
He added that out of the existing ‘Grade A’ office stock, an additional 370 million square feet has the potential to be listed as REITs in the future, presenting a promising growth outlook for the office segment.
Operational assets under office REITs in India have more than doubled in the past five years, rising from about 72 million square feet in 2021 to approximately 164 million square feet by the end of March 2026.
In the Tier-1 office market, Bengaluru holds the highest share of REITs, with nearly 30% of the city’s existing ‘Grade A’ office stock already listed under REITs. Following Bengaluru are Hyderabad, Mumbai, and Pune, where the REIT share ranges from 15% to 20%. More than two-thirds of the current office stock under REITs is concentrated in the secondary business districts (SBDs) of major cities.
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