520 lakh sq ft SM REIT-ready office space provides monetization opportunity of ₹67,000 to 71,000 crore: ICRA Hindustan Times
Around 520 lakh square feet of office space is eligible for small and medium REITs (SM-REIT) listing, creating a monetization opportunity of ₹67,000 to ₹71,000 crore. (Picture for representational purposes only). As of December 2023, the total Grade A office supply stood at 9800 lakh sq ft and Grade B office at 1150 lakh sq ft across the top seven cities. At a cap rate of 8-8.5%, SM REIT-ready office space provides monetization opportunities of Rs. 67,000 to ₹71,000 crore across top seven cities. Small and medium REIT-ready office spaces are estimated at around 520 lakh sq ft to 530 lakh sq ft, indicating a healthy potential for SM REIT listings in the commercial office space, the analysis said
