According to a report released on Friday, India's real estate sector recorded 42 transactions worth $2.9 billion in the third quarter of 2025, the highest quarterly volume to date. Transactions included nine public market deals, five of which were IPOs and four QIPs.

Key Highlights

• India’s real estate sector logged 42 deals worth US $2.9 billion in Q3 2025 — a record.
• Private-equity activity surged 71% in volume with US $859 million raised, driven by commercial and prop-tech assets.

The release also stated that there has been a significant increase in marquee M&A and private equity investments. Excluding public market transactions, 33 private deals totaled $1.8 billion, indicating renewed investor interest in the commercial and retail real estate sectors, according to the statement.

M&A activity totaled 21 deals worth $843 million, with 20 domestic transactions accounting for $838 million.

"The surge in marquee transactions, rising investor appetite for income-yielding, institutional-grade assets, and sustained capital market engagement reflect growing institutional depth and strong confidence in the sector's resilience and growth potential," stated Shabala Shinde, Partner and Real Estate Leader at Grant Thornton Bharat.

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"With supportive policy measures and improved access to funding, India's real estate market is evolving into a more professional, transparent, and governance-driven ecosystem," according to Shinde.

Private equity (PE) experienced a strong rebound, with 12 deals totaling $859 million, representing a 71% increase in volume and a 48% increase in value over the previous quarter.

Three transactions exceeding $100 million accounted for 81% of the total PE deal value. According to the advisory firm, commercial assets and real estate technology attracted the most investment, while other sectors remained relatively stable.

This quarter, equity markets saw renewed activity, with five IPOs raising a total of $805 million and four QIPs worth $344 million, indicating a recovery after a slow period.

Real estate operators and the commercial development sector continued to dominate, accounting for 70% of deal volume and 91% of deal value, with four of the top ten deals coming from these sectors.