India office REIT portfolios grow 74% in H1 2026

That matters economically because listed REITs channel long-duration capital into office, retail and logistics assets while widening access to real estate for domestic and global investors. The report said operational office REIT assets now account for 16% of India’s 1.05 billion square feet office stock, while the under-construction REIT pipeline equals another 19% of the current operational REIT base, suggesting the institutional share of the market is still climbing.

Bengaluru remains the biggest REIT-backed office market, with 67.6 million square feet of REIT stock, or 27% of its office inventory. Hyderabad follows at 26.2 million square feet, while Mumbai has 24.6 million square feet. Coverage in NCR and Pune stands at 11% each, while Chennai and Kolkata are at 10%; Ahmedabad remains barely tapped at 1%.

The expansion also points to a healthier exit market for owners of completed buildings. Knight Frank’s Shishir Baijal said listed REITs have strengthened the “exit and capital-recycling mechanism” for institutional investors, allowing stabilized assets to be pooled into listed vehicles and sold to a broader investor base.

The broader Indian REIT universe is still developing, but the trend is clear: office remains the anchor, retail REITs are smaller at 11 million square feet, and warehousing InvIT assets have reached 44.2 million square feet as roads and fibre continue to dominate the infrastructure base. The next catalyst for the sector will be whether more under-construction assets reach stabilization fast enough to sustain the pace of listed portfolio growth and keep capital flowing into new office and logistics projects.