Overview
- REITs account for 19% of India’s listed real estate value compared with a 57% global average, underscoring under-penetration.
- Vestian projects market capitalisation rising from about $18 billion in 2025 to $25 billion by 2030.
- India has five listed REITs, with four focused on offices and one on retail, and listed office portfolios exceed 135 million sq ft out of roughly 500 million sq ft considered REIT-worthy.
- Bagmane Prime Office REIT has filed draft papers to raise up to ₹4,000 crore, which would become the sixth listed REIT if the IPO succeeds.
- Retail exposure remains limited with Nexus Select Trust as the sole retail REIT and about 10.6 million sq ft under REITs out of roughly 89 million sq ft of Grade A stock, while data centres, logistics, industrial parks and warehousing are flagged as next growth engines and residential remains constrained by low yields and policy gaps.