New Delhi, April 24: The number of real estate deals in India increased by 14% year-on-year in the first quarter of the financial year 2026, reaching 32 deals compared to 28 during the same period last year, according to a report released on Friday.
In the previous quarter, the number of deals stood at 26.
The Grant Thornton India report indicated that the absence of large transactions led to a slight dip in deal value, which was recorded at $763 million for the March quarter.
The report highlighted that the increase in the number of deals alongside a decrease in value suggests that investors are increasingly attracted to smaller and medium-sized transactions.
The mergers and acquisitions segment led the deal count with 19 transactions; however, the lack of large deals caused its value to drop sharply to $305 million.
Shabala Shinde, Partner and Head of Real Estate at Grant Thornton India, stated, “This quarter has shown a clear trend towards medium-sized and income-generating properties, with domestic activity dominating and private equity capital remaining a significant source.”
Shinde further noted that investment trends indicated a strong inclination towards commercial properties, particularly office and retail platforms, supported by clear yields and stable cash flows. Meanwhile, REIT-led transactions have further strengthened institutional confidence in high-quality, income-generating assets.
Overall, the deal environment remained resilient, although investors are adopting a more selective approach, prioritizing property-level performance and execution certainty amid ongoing macroeconomic and geopolitical uncertainties.
Private equity and venture capital activity recorded 13 deals valued at $458 million, marking the highest quarterly volume in the past year. However, the absence of any large deals in the previous quarter resulted in a sequential decline of 71% in values.