India, Dec. 22 -- India's Real Estate Investment Trust (REIT) sector has reached a gross asset value of about Rs.2.3 lakh crore, crossing Hong Kong's REIT market in market capitalisation, a report by Anarock said. The equity market capitalisation of the country's listed REITs now stands at around Rs.1.66 lakh crore, it said.

The surge has occurred in just six years since India's first REIT listing, even as only about a third of the country's REIT-ready real estate stock has been monetised so far, indicating significant headroom for future growth.

"Since the first listing in 2019, the sector has expanded rapidly with Embassy, Mindspace, Brookfield India, Nexus, and now Knowledge Realty Trust, India's largest office REIT by GAV and NOI. T...