For a long time, commercial real estate has been the domain of large institutional investors and high-net-worth individuals. However, the launch of Small and Medium Real Estate Investment Trusts (SM REITs) is redefining this notion, offering a pathway for smaller investors to participate in the lucrative world of commercial real estate.
So, what exactly are SM REITs, and why are they capturing the attention of cautious investors?
Small and Medium Real Estate Investment Trusts (SM REITs) are emerging as a sophisticated investment option, offering a strategic pathway into commercial real estate without the need for direct ownership. Structured as pooled investment vehicles, SM REITs allow investors to participate in high-quality commercial properties, from office buildings to logistics hubs and warehouses, generally valued in the ₹50–500 crore range. Unlike traditional REITs, which often target large institutional investors, SM REITs are specifically tailored to meet the needs of smaller investors. By lowering the capital entry barrier, SM REITs enable a more diversified, accessible approach to commercial real estate, allowing investors to gain exposure to income-generating assets with strong growth potential in India’s thriving property market.
With a minimum investment of ₹10 lakh, investors can own a portion of prime, income-generating real estate. Now, even smaller investors can secure a foothold in the commercial real estate sector, participating in properties that are not only income-generating but also possess capital appreciation potential.
SM REITs open doors to various segments within commercial real estate, including office spaces, warehouses, and logistics centers. For cautious investors, this diversification spreads risk across different asset types, offering exposure to multiple income-generating sources without the administrative complexities of direct property ownership. Diversifying through SM REITs enables investors to mitigate risks associated with single-sector investments and capitalize on the robust growth projected across India’s commercial real estate landscape.
One of the significant advantages of SM REITs over traditional real estate ownership is liquidity. Unlike direct property investments, which are often illiquid and challenging to divest quickly, SM REITs are publicly traded on stock exchanges, allowing investors to buy or sell units as per market demand. This liquidity offers a substantial advantage to those who may need to exit their investments or rebalance their portfolios without the constraints associated with physical property.
The Securities and Exchange Board of India (SEBI) regulates SM REITs, providing a level of transparency and security that private real estate investments often lack. This regulatory oversight ensures adherence to high standards of governance and operational transparency. Additionally, SM REITs are mandated to invest at least 95% of assets in completed, rent-yielding properties priced above Rs 25 crore and less than Rs 500 crore with units to be issued to a minimum of 200 investors, ensuring asset quality and investor safety.
For risk-averse investors, this aspect of income stability, combined with regulatory safeguards, enhances the appeal of SM REITs as a reliable investment.
India’s SM REIT market is still in its early stages, but the growth potential is compelling. The launch of the first SM REIT IPO in August 2024 was a pivotal moment, representing the beginning of broader acceptance and development within this segment. Industry analysts anticipate a rapid expansion in this space.
Research projects that the market will grow to over 300 million sq. ft. of completed with an addition of 50+ million sq.ft expected to be added by 2026. These numbers pertain to mid-sized (0.1 – 1 million sq.ft), investment–grade office developments in India’s top 7 cities as of Q2 2024.
For those who have traditionally avoided real estate due to high capital requirements or lack of liquidity, SM REITs offer a compelling alternative. With their mix of real estate stability and stock market liquidity, SM REITs bridge the gap between direct property investment and the flexibility of publicly traded assets, positioning them as a valuable addition to modern investment portfolios.
The emergence of SM REITs is transforming India’s commercial real estate market, offering retail investors an unprecedented opportunity to diversify their portfolios with high-quality real estate assets. With regulatory backing, attractive entry points, and market flexibility, SM REITs are well-suited to meet the needs of evolving investors in India.
As SM REITs become a pivotal part of a balanced investment strategy, SQUAREA offers the expertise to guide you in this promising sector. Connect with us today to explore tailored solutions that align with your investment goals.
India’s luxury residential market is undergoing a quiet transformation. Beyond aesthetics and prime addresses, homebuyers today are placing increasing value on identity, trust, and differentiated experiences. This shift is opening up space for branded residences, homes developed in collaboration with global names in hospitality, fashion, and design.
Branded residences are beginning to resonate with a growing base of affluent buyers who seek more than conventional luxury. As expectations evolve and emerging markets gain prominence, these projects are steadily making their way into mainstream investment conversations.
The question now is whether India’s evolving market conditions can support a larger branded residential footprint? The answer lies in the numbers, the evolving buyer mindset, and the cities reshaping the future of premium living.
To understand the rise of branded residences, we must first look at the overall trajectory of the luxury residential market. According to Mordor Intelligence, India’s luxury residential real estate market is expected to grow from USD 44.11 billion in 2025 to USD 118.30 billion by 2030, at a CAGR of 21.81% during this period.
This growth isn’t just about market size, it reflects a steady shift in buyer confidence. India’s expanding economy, rising incomes, and greater financial awareness are contributing to stronger demand in the premium housing segment. Luxury today is no longer limited to inherited wealth. Luxury buyers include first-generation entrepreneurs, professionals, and investors who are more attuned to global design, service, and lifestyle benchmarks. As this base grows, so does interest in luxury real estate and branded residences.
The appetite for homeownership, particularly in the upper-mid and luxury categories, has seen a remarkable shift. In 2024, India witnessed record-high residential sales of 302,867 units, an 11% year-on-year increase. Average annual sales during 2022–2024 surpassed pre-pandemic (2010–2019) averages by 63%, underscoring a permanent behavioural change in the housing market (JLL).
Bengaluru, Mumbai, and Pune led the market, accounting for 62% of annual sales across the top seven cities. This performance highlights not just volume, but rising confidence in premium segments, even amid sustained price appreciation.
As more buyers prioritise design, privacy, and service-backed living, the jump to branded residences becomes a natural progression. The growing comfort with premium pricing is further opening the door for branded residences.
This surge in luxury demand isn’t just about size or square footage. Today’s affluent homebuyer seeks experiences that blend design, service, and investment value. Branded residences deliver on all three fronts, offering globally curated aesthetics, hospitality-grade amenities, and the trust that comes with established names.
For developers, these partnerships elevate brand equity and differentiation. For buyers, they provide:
As demand shifts toward long-term liveability and legacy asset creation, branded residences are emerging as a new language of premium real estate. This shift is being strongly reinforced by one of the most significant drivers of change in Indian real estate, the expansion of individual wealth.
The demand for branded residences is closely tied to the rise of India’s affluent population. According to the Knight Frank Wealth Report 2024, the number of ultra-high-net-worth individuals (UHNIs), those with a net worth of USD 30 million or more, is projected to grow by 50%, reaching nearly 20,000 individuals by 2028 (Knight Frank). For this segment, real estate is not merely a purchase, it’s a portfolio decision. A branded residence appeals because it combines three key dimensions that they increasingly prioritise:
This shift is further reinforced by projections from NAREDCO and Housing.com, which estimate that India’s branded residences segment will touch USD 5 billion by 2025 (NAREDCO). The segment’s expansion has been driven not just by rising disposable incomes but by the growing aspirational appeal of globally branded homes, offering a combination of design, trust, and legacy that traditional luxury formats often lack. Notably, this demand is no longer limited to metro cities alone, with emerging markets steadily becoming hotspots for brand-aligned living.
While Mumbai and Delhi continue to dominate luxury headlines, it is India’s emerging markets that are fuelling the next wave of growth. Cities like Pune, Hyderabad, and Ahmedabad are now delivering luxury at global standards, with the infrastructure, talent density, and buyer profiles to support it.
Pune, in particular, has become a hub for branded homes. Projects such as Trump Towers Pune, YOO Pune, YOO Villas, and FashionTV-branded residences have already proven the city’s readiness for design-led global partnerships. With improved connectivity, rising launch volumes, and a more discerning luxury buyer base, cities like Pune are offering the perfect intersection of aspiration and affordability.
India’s luxury real estate story is entering a new phase, defined by maturity, investor confidence, and global alignment. And as India continues to grow in affluence and urban sophistication, branded residences are set to become a defining feature of the next wave of luxury living.
At SQUAREA, we specialise in helping investors and end-users access India’s most iconic branded residences. Whether you’re seeking a globally designed home, a strategic long-term asset, or a lifestyle that reflects your achievements, our team is here to guide you with detailed market insights. You can connect with us at hello@squarea.io or call +91 90 9641 9641 to explore exclusive opportunities in India’s evolving luxury real estate landscape.
The luxury real estate market is evolving, and at its forefront is the rise of branded residences. These sought-after properties are developed in collaboration with global names in hospitality, fashion, and design. Making these homes go beyond architecture and amenities, they offer a lifestyle, a legacy, and a distinct identity.
Initially a niche concept, branded residences have now moved into the mainstream. According to Savills, the number of such developments has increased by over 150%, with approximately 700 completed projects worldwide and an additional 600 in the pipeline expected by 2030.
This momentum isn’t limited to traditional luxury markets. Buyers in emerging economies are also drawn to the assurance of quality and global recognition. And with Knight Frank forecasting 12% annual growth through 2026, it’s clear that branded residences are gaining lasting traction. As the category matures, it’s important to understand what truly sets branded residences apart from conventional luxury homes.
While the brand name lends immediate appeal, what truly justifies the premium that investors pay for these residences is the end-to-end value delivered throughout the ownership lifecycle. Differentiating factors like these add to the long-term value of branded residences:
These elements collectively contribute to the allure of branded residences, making them a preferred choice for discerning end-use buyers and investors.
From an investment standpoint, branded residences often outperform their non-branded counterparts. On average, branded residences command a 30% premium over similar non-branded properties (Savills). In emerging markets, this premium can be even higher. For instance, in certain regions, branded residences have achieved premiums of up to 54% compared to non-branded developments (Savills).
Beyond initial pricing, branded residences tend to offer:
These factors make branded residences a compelling option for investors seeking both capital appreciation and steady income streams. As global investors recognise these advantages, India’s luxury buyers are also moving in a similar direction.
India’s growing base of high-net-worth individuals, rising disposable incomes, and a younger, globally aware population are reshaping the demand for luxury real estate. Branded residences are increasingly favoured by this new-age buyer, not just for their exclusivity but for the trust and lifestyle assurance that global brands bring. This paradigm shift has resulted in cities like Mumbai, Pune, Delhi NCR, and Bengaluru to witness a steady rise in such developments. Pune, in particular, is emerging as a hotspot for branded residences. Developments like YOO Pune by Philippe Starck, YOO Villas and Trump Towers Pune exemplify the city's potential to host world-class luxury projects. These residences offer opulent living spaces along with a lifestyle aligned with global standards.
Branded residences go beyond the name on the façade. They blend thoughtful design, five-star service, and long-term value into one cohesive offering, making them far more than luxury addresses. For today’s buyers they represent a rare combination of lifestyle enhancement and investment clarity. It’s this duality that sets them apart.
At SQUAREA, we believe that investing in a branded residence is not just about owning a prestigious home, it’s about making a strategic choice that aligns with your aspirations and lifestyle. Our team offers tailored insights and access to India’s most exclusive branded residences, helping you move beyond the brand name and into a truly meaningful investment. For personalised assistance, reach out to us at hello@squarea.io or call +91 90 9641 9641. Let's explore the possibilities together!
Once known primarily for its academic institutions and automotive base, Pune has steadily transformed into one of India’s most active and tightly held commercial real estate markets. This evolution has been shaped by the city’s expanding tech ecosystem, the rise of Global Capability Centres (GCCs), and growing interest from multinational occupiers across sectors like IT, BFSI, and consulting.
In terms of performance, Pune has consistently outpaced peer markets on office space absorption, rental stability, and institutional-grade development. And in 2025, with over 10 million sq. ft of new Grade-A supply in the pipeline, it is not just maintaining investor confidence, it is actively shaping the next phase of growth among India’s Tier 1 commercial corridors (Cushman Wakefield).
Where is this growth concentrated, and what are the key trends driving it? Here’s a closer look at Pune’s core investment zones and evolving market dynamics that provide the answers.
Commercial demand in Pune is concentrated across select micro-markets that offer the right combination of location advantage, infrastructure readiness, and premium-grade supply. These include both well-established and emerging micro-markets.
SBD East continues to dominate Pune’s commercial landscape, accounting for the highest net absorption in Q1 2025 at 1.12 million sq. ft. It also accounted for 45% of all leasing activity in Pune, supported by strong early bookings and large office deals from BFSI and flexible workspace companies. Despite robust new completions of around 1.65 million sq. ft, rentals held steady at an average of ₹98.84 per sq. ft/month, reflecting healthy demand. The area remains attractive due to its proximity to Pune Airport, established residential catchments, and connectivity to CBD zones. (Cushman Wakefield)
Where is this growth concentrated, and what are the key trends driving it? Here’s a closer look at Pune’s core investment zones and evolving market dynamics that provide the answers.
Commercial demand in Pune is concentrated across select micro-markets that offer the right combination of location advantage, infrastructure readiness, and premium-grade supply. These include both well-established and emerging micro-markets.
Home to Rajiv Gandhi Infotech Park and large Special Economic Zones (SEZs), PBD West remains Pune’s core tech employment belt. Known for scalability and affordability, it’s also a rising zone for coworking, GCCs, and high-spec business parks such as Blue Ridge SEZ.
Locations like Pimpri-Chinchwad, Hadapsar, Mundhwa, and Balewadi are gaining ground among startups and investors looking for smaller-format leased spaces. Developments like Kohinoor World Towers in Pimpri-Chinchwad, Amar Pristine 81 in Mundhwa, are attracting both occupiers and individual investors for their competitive pricing. These nodes combine modern infrastructure with competitive pricing and are increasingly being viewed as Pune’s next wave of commercial growth.
Together, Pune’s micro-markets offer a well-balanced ecosystem, ranging from high-yield institutional corridors in the east to tech-driven expansion zones in the west, and emerging nodes primed for future growth. This spatial differentiation is a key reason why Pune continues to outperform in both leasing velocity and absorption volumes. The strength of these zones is backed by data from 2024 and Q1 2025, Pune has recorded historic highs in new supply, absorption, and occupier activity across segments. These market metrics reinforce Pune’s stature as one of India’s most resilient and investment-worthy commercial hubs.
According to Knight Frank India, Pune witnessed a 19% growth in office leasing in 2024, with activity totalling 8 million sq. ft, reflecting broad-based tenant expansion across IT, BFSI, and coworking sectors (TOI). In Q1 2025, the momentum further accelerated. Pune added a record 3.2 million sq. ft of new Grade-A office supply, a 90% increase over the previous year. While this did push the vacancy rate to 11.23%, the city remains India’s second-tightest office market, behind Bengaluru (Cushman Wakefield). This strong absorption, diversified demand, and influx of global-grade assets paint a clear picture of where Pune is headed.
With 10 million sq. ft of new space expected in 2025 and 11 million in 2026, Pune is entering a growth phase led by institutional developers and occupier-led demand. Notably, Trump World Center, a 1.6 million sq. ft branded commercial project, is now under development, offering both strata and leased office space. This marks the entry of international branding into Pune’s commercial skyline and highlights growing investor sophistication (TOI).
What makes Pune stand out is its balance of fundamentals:
At SQUAREA, we help investors capitalise on Pune’s accelerating commercial real estate cycle. Whether you're looking to acquire income-generating leased assets, explore premium office investments, or enter future-ready growth corridors like SBD East or PBD West, our team offers unmatched access and strategic insights. You can reach out to us at hello@squarea.io or call us on +91 90 9641 9641.