India office REIT operational area grows 74% year-on-year

According to a report by Assocham and Knight Frank India, India’s office Real Estate Investment Trust (REIT) operational area grew 74% year-on-year in the first half of 2026, reaching 167 million square feet.

This operational office REIT portfolio now accounts for 16% of India’s total office stock, with an additional 19% of existing operational REIT stock currently under construction.

Institutional ownership penetration varies significantly by city. Bengaluru leads the market, with REIT-backed office stock covering 27% of its inventory. Hyderabad follows with 20% coverage, while Mumbai, the National Capital Region (NCR), and Pune each report coverage levels between 11% and 14%. Chennai and Kolkata show 10% coverage, whereas Ahmedabad remains at 1%.