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The listing of retail-led real estate assets through Real Estate Investment Trusts (REITs) has brought greater transparency to transaction and management structures. Developers are now recognizing the need to upgrade retail properties, focusing on factors like tenant mix and mall management to maximize asset monetization. Data from JLL India shows that over half of the retail assets in India with the potential to be listed as REITs are located in Mumbai and the NCR-Delhi region.

Indian REITs Association: Brookfield India Real Estate Trust (BIRET), Embassy REIT, Mindspace Business Parks REIT, and Nexus Select Trust are the founding members of the IRA.

​With Rs 1,19,313 crores in gross Assets Under Management (AUM), a market capitalization of over Rs75,000 crores, and a portfolio covering 113.5 million square feet of Grade A office and retail spaces nationwide, REITs in India have demonstrated noteworthy growth since the first REIT listed in 2019.

The Securities & Exchange Board of India's plan to roll out norms for follow-on offers by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) is expected to provide an additional avenue for fundraising and liquidity to these business trusts.

In India, REITs have proven popular with both institutional and retail investors. A total of four REITs were listed in the India market as of May 2023, comprising three office REITs and one retail REIT. The three office products have been in existence for more than two years, while the retail product was a new listing in May 2023, mentioned the report.