India's realty sector saw 11 capital market deals from April-December 2025

India’s real estate sector is back in the capital markets spotlight—and this time, the numbers suggest it’s more than a cyclical bounce. In just the first nine months of FY26, developers and property platforms raised ₹17,867 crore across 11 capital-market deals, already matching the deal count of the entire previous year, as per data analysed by Euirus Capital. 

 The number of deals in the first 9 months of FY26 is already equal to the deals witnessed in FY25, the amount raised and deals may surpass to become the highest in the past 6 years. 

The sector overall witnessed fund raising of Rs 72,331 crores since FY18, REITs got the largest share of fund raising at Rs 31,241 crore, followed by large cap real estate companies at Rs 20,437 crores, midcaps real estate companies at 12,496 crores,

 

 

The sector overall witnessed fund raising of Rs 72,331 crore since FY18, REITs got the largest share of fund raising at Rs 31,241 crore, followed by large cap real estate companies at Rs 20,437 crore, midcaps real estate companies at 12,496 crore, finally small-cap real estate companies at Rs 8156 crore lowest since FY18.

 

Housing affordability best in the past 30 years Pan-India

 

India’s real estate story remains strong at the back of strong economic growth and consumption. Recent trends indicate up-cycle to continue for real estate for the near-term foreseeable future on the basis of increased affordability & investment. The reason for the strong outlook is on the back of

 

Home Loan Rates & Rental Yields have been steady since FY21 COVID, offering buyers relief. The gap between home loan rates and rental yields are likely to come down to below 500 bps in FY26.

 

The housing affordability has improved significantly Pan-India over the last several years. The property price to annual income ratio that use to be 22 in 1995 has steadily fallen due to development in the urban areas of the country, it has fallen steadily in the past 30 years to come down to 3.3 in 2024.

 

Due to a combined factor of changing lifestyles, upgrades, low interest rates and improving income, the real estate was the preferred asset class in H12025.

 

The top seven cities recorded strong sales in calendar year 2024, supported by an active launch pipeline. This balance between launches and absorption has helped developers maintain pricing discipline while avoiding inventory overhangs—a key factor reassuring both equity investors and lenders.   

Pan-India Residential Real Estate Absorption has equalled or exceeded supply over the last few years (in 000’s units), this indicates higher sales or lower inventories. The top 7 cities witnessed an increased sales supported by several launches in th