News: India property deal value slides to $763 million in January-March as big-ticket transactions dry up-24-04-2026
Deal value in India’s real estate sector fell 63% quarter-on-quarter to $763 million in January-March 2026, from $2,083 million in the previous quarter, according to a Grant Thornton Bharat report. The decline came mainly from the absence of large-ticket transactions, even though the number of deals, including IPO and QIP activity, rose to 32 from 26 in Q4 2025 and 28 a year earlier, up 14%. The report described it as one of the lowest quarterly values since Q4 2023.
It said the mix of higher volumes and lower values points to a shift towards small and mid-sized deals as investors turn cautious and selective amid global economic and geopolitical uncertainty. Chan Chakravarti, a global real estate investor and capital strategist, said the numbers show resilience in deal count but a move from large opportunistic bets to calibrated mid-market transactions.
Mergers and acquisitions accounted for 19 deals worth $305 million. The largest was RSVM Hospitality Pvt Ltd’s purchase of an 18.6-acre land parcel in Thane from the Neterwala Group for $55 million.
Private equity and venture capital investment stood at 13 deals worth $458 million, the highest quarterly deal count in a year, but value dropped 71% from the previous quarter, which had a mega deal. Average PE deal size fell from USD 80 million in Q4 2025 to USD 23.8 million.
Commercial development stayed the preferred segment, with 42% of M&A volumes and 78% of PE values, helped by stable rental yields in office and retail assets. Residential development saw deals rise from one to six, worth about $178 million. Consultancy and services recorded two deals totalling USD 8 million, mostly bolt-on acquisitions.
Shabala Shinde, Partner and Real Estate Industry Leader at Grant Thornton Bharat, called the quarter a stable but measured start, with domestic activity dominant, private equity a key source of capital and REIT-led deals reinforcing institutional confidence.
