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Knight Frank–CII Sees India REIT Market Near Doubling to ₹19.7 Trillion by 2030

A Knight Frank–CII study attributes the outlook to high occupancy, supportive taxes, diversification into warehousing, data centres, retail REITs.

Overview

  • The market is projected to grow from ₹10.4 trillion in 2025 to ₹19.7 trillion by 2030, with office, retail and warehousing as the core components.
  • REIT‑able office assets are estimated to expand from ₹8.2 trillion to ₹16 trillion by 2030, while retail is seen rising from ₹1.5 trillion to ₹2.4 trillion and warehousing from ₹0.7 trillion to ₹1.3 trillion.
  • Office REITs currently cover 15.3% of stock across the top eight cities, as India’s office market crosses 1 billion sq ft in 2025 and is valued at ₹16.4 trillion.
  • Data centres are flagged as a high‑growth segment with total capacity exceeding 10 GW, including 1.4 GW operational and 8.8 GW under development.
  • India has five listed REITs spanning about 177 million sq ft and roughly ₹2.3 lakh crore in assets with over 290,000 unitholders, and listed vehicles have delivered average dividend yields near 5.5% as private equity inflows since 2011 strengthened transparency.