India, Oct. 28 -- Private equity (PE) investment in Indian real estate declined 31% year-on-year (YoY) to $ 1.66 bn in the first nine months of 2026 from $ 2.41 bn during the same period last year. This is the lowest level in the last six years, even as the number of transactions increased from 24 to 31, according to a report released by Knight Frank India.

On a comparable nine-month basis, PE investment in 9M 2026 was at its lowest level in six years. Unlike earlier years, when one strong quarter lifted the total, investment in 2026 was more evenly distributed across the three quarters. The decline was primarily driven by the absence of large-ticket deals, the report said.

According to the report, the divergence reflects a shift in the...