Mumbai Tops Real Estate Equity Investment In India With $6.9 Billion Inflows, Reveals CBRE-CII Report

Mumbai has emerged as the top destination for real estate equity investments in India, attracting $6.9 billion between calendar years 2022 and 2024, according to a new joint report by CBRE South Asia Pvt. Ltd. and the Confederation of Indian Industry (CII). Titled ‘Bricks & Billions – Mapping the Financing Landscape of Real Estate’.

The report highlights Mumbai’s dominant position, accounting for approximately 26% of India’s total real estate equity investments during the period. Together, Mumbai, Delhi-NCR, and Bengaluru drew $16.5 billion in equity inflows, representing a significant 62% share. This concentration reflects the strong presence of investment-grade assets, advanced urban infrastructure, skilled talent, and a maturing regulatory ecosystem in India’s gateway cities.

Nationwide, real estate equity investments totaled $26.7 billion between 2022 and 2024. Land and development sites received the lion’s share at 44%, followed by built-up office spaces at 32%.

Tier-II cities attracted nearly $3 billion in equity investments—close to 10% of the national total. Investment was primarily directed toward land/development sites (47%), with the industrial and logistics (I&L) sector following at 25%. Factors such as industrial growth, infrastructure expansion, and rising consumption have made these cities increasingly attractive to investors.

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa at CBRE, noted:  “India’s real estate is entering a new growth phase backed by strong capital inflows and growing investor confidence in sectors like residential and built-up office spaces.”

Key Trends Shaping the Market are Public Equity Momentum, Lower Financing Costs, Developer Activity on the Rise Land acquisition among others.