India's real estate industry achieved its highest capital mobilization in seven years, securing Rs. According to Equirus Capital, FY25 will see 23,080 crore (US$ 2.63 billion) across 12 transactions. Since FY18, the industry has drawn in a cumulative amount of Rs. 72,331 crore (US$ 8.24 billion), driven by Real Estate Investment Trusts (REITs) at Rs. 31,241 crore (US$ 3.56 billion), succeeded by large-cap builders at Rs. 20,437 crore (US$ 2.33 billion) in mid-cap companies at Rs. 12,496 crore (US$ 1.42 billion), with small-cap companies at Rs. 8,156 crore (US$ 928.2 million). Small-cap real estate stocks have led in performance since March 2021, while REITs, despite early underperformance, have generated 21.30% returns over the last year, becoming the top-performing real estate asset class during that time. Industry experts anticipate that the upcoming growth stage for India's REIT market will stem from retail properties, propelled by the consolidation of premium shopping centers, ongoing consumer expenditure, and increasing urban incomes. Anarock Research forecasts that the Indian retail REIT market will attain Rs. 60,000-80,000 crore (US$ 6.83-9.12 billion) by 2030, constituting 30-40% of the total REIT market projected at Rs. 2,00,000 crore (US$ 25 billion). Colliers’ report shows that India’s four publicly traded office REITs oversee 133 million sq. ft. of Grade-A office properties, with an additional 371 million sq. ft. available for listing. Recent progress features Embassy Developments’ Rs. A fund infusion of 1,160 crore (US$ 132 million) along with Blackstone and Sattva Group’s application for a Rs. 6,200 crore (US$ 707 million) Initial Public Offering (IPO) for Knowledge Realty Trust, set to be India’s biggest REIT offering.