Mumbai has emerged as the top destination for real estate equity investment in India, attracting $6.9 billion between 2022 and 2024, according to a joint report by the Confederation of Indian Industry (CII) and CBRE. This accounts for approximately 26% of the total $26.7 billion equity investments across six major Indian cities during the same period.
The report highlights that Mumbai, along with Delhi-NCR and Bengaluru, collectively secured $16.5 billion, representing 62% of the total real estate equity investments in India. This dominance is attributed to factors such as a concentration of investment-grade projects, robust urban infrastructure, a skilled workforce, and strong demand across various asset classes. ​
In terms of asset classes, land and development sites attracted the largest share of equity investments, accounting for 44%, followed by built-up office assets at 32%. Institutional investors contributed to 33% of the investments, while developers accounted for 46%. The report also notes a growing emphasis on Environmental, Social, and Governance (ESG) factors, with one in five investors prioritizing green buildings in their investment decisions. ​
Looking ahead, the outlook for 2025 remains positive, with expectations of continued investment in residential and office assets, as well as emerging sectors such as logistics and warehousing. The evolving regulatory landscape and increasing institutional participation are expected to further bolster investor confidence in India’s real estate sector. ​
