Mumbai, June 19
Real estate investment trusts (REITs) in top seven Indian cities currently have only 23 per cent of total REIT-worthy office stock (worth 520 million square feet) listed in their portfolios, showcasing tremendous scope in the future, according to a report released on Thursday.
In terms of appreciation, India’s office REITs have shown strong one-year performance (as of June 16, 2025), driven by robust leasing activity and steady rental escalations.
India was a late entrant into the REIT sector. However, since REITs launched in 2019, their market capitalisation has surpassed that of some major economies with matured REIT markets., according to latest Anarock Research data.
The three listed Indian REITs -- Embassy Office Parks, Mindspace Business Parks and Brookfield India -- have a combined portfolio of just 117.2 million sq ft, which is just 23 per cent of the overall REIT-able Indian office space market, said Anuj Puri, Chairman, Anarock Group.
This indicates significant headroom for future REIT listings and office market consolidation across the top 7 cities, he mentioned.
With about 313 million sq. ft., Bengaluru, Hyderabad and Chennai currently host the maximum available REIT-worthy office stock. However, just 18 per cent of this stock is listed in REIT portfolios,