Proprietary Market Intelligence · March 2026
India Gully Institutional Advisory Intelligence
Proprietary Market Intelligence
2026 Benchmarks — Real Estate and Hospitality
Curated market intelligence across 8 cities, hotel segments, macro indicators, and transaction activity — drawn from India Gully's active advisory mandates and industry sources as of March 2026.
Macro-Economic and Capital Markets Indicators
Sources: IMF, RBI, DPIIT, STR, JLL, CBRE, India Gully Research
↑
India GDP Growth (FY26)
6.8%
IMF estimate
↑
Domestic Air Pax (FY26)
165 Mn
+14% YoY
↑
Foreign Tourist Arrivals
9.2 Mn
+22% YoY (UNWTO provisional)
↑
Pan-India Hotel Occ (Q3 FY26)
71.4%
+2.8pp YoY
↑
Pan-India RevPAR (Q3 FY26)
₹4,820
+9.1% YoY
↓
Grade-A Office Vacancy
15.8%
Top-6 markets, Q4 2025
↑
Office Net Absorption (FY26)
47 Mn sq. ft.
+8% vs FY25
↓
Retail Mall Vacancy
8.2%
Top-8 markets, H2 2025
↑
Branded Hotel Supply Pipeline
1,35,000
Keys under development (FY26-28)
↑
Hotel Transaction Volume
INR 4,800 Cr
H1 FY26 (deal completions)
↓
RBI Repo Rate
6.25%
Feb 2026 cut (-25bps)
→
INR / USD
₹83.4
as of Mar 2026
Strategic Corridor Rate Intelligence (₹ per sq. ft. unless noted)
| City | Office (Grade-A) | Hotel (Room Rate) | Retail (Mall) | Occupancy Stabilization | ADR | RevPAR | Cap Rate | Market Vector |
|---|---|---|---|---|---|---|---|---|
| Delhi NCR | ₹8,500-10,500 | ₹6,200-9,500 | ₹12,000-28,000 | 72% | ₹7,200 | ₹5,184 | 7.5-9.0% | ↑ |
| Mumbai (BKC) | ₹22,000-28,000 | ₹10,500-18,000 | ₹35,000-55,000 | 78% | ₹12,500 | ₹9,750 | 7.0-8.5% | ↑ |
| Bengaluru | ₹8,000-12,000 | ₹5,500-9,000 | ₹10,000-22,000 | 74% | ₹6,800 | ₹5,032 | 7.5-9.0% | ↑ |
| Hyderabad | ₹6,500-9,500 | ₹4,800-7,500 | ₹8,000-18,000 | 71% | ₹5,900 | ₹4,189 | 8.0-10.0% | → |
| Pune | ₹5,500-8,000 | ₹3,800-6,500 | ₹7,500-16,000 | 68% | ₹4,700 | ₹3,196 | 8.5-10.5% | ↑ |
| Chennai | ₹5,000-7,500 | ₹4,200-7,000 | ₹8,000-16,000 | 70% | ₹5,200 | ₹3,640 | 8.5-10.5% | → |
| Chandigarh | ₹3,500-5,500 | ₹3,200-5,500 | ₹6,000-12,000 | 69% | ₹4,800 | ₹3,312 | 9.0-11.5% | ↑ |
| Jaipur | ₹3,000-4,500 | ₹3,800-6,500 | ₹5,500-11,000 | 67% | ₹5,500 | ₹3,685 | 9.5-12.0% | ↑ |
* Office rates: per sq. ft. capital value. Hotel rates: Average Room Rate. Retail: Ground-floor prime rate. Data as of Q3-Q4 FY26. Sources: JLL, CBRE, ANAROCK, STR, India Gully Research.
Hotel Asset Class Benchmarks — India FY26
| Segment | ADR Range | Occupancy Stabilization | Cap Rate | EBITDA Multiple | New Supply and Absorption Rate (FY26) |
|---|---|---|---|---|---|
| Luxury (5-star) | ₹14,000-28,000 | 74-82% | 8.0-10.0% | 12-16× | +2,400 keys (FY26) |
| Upper-Upscale | ₹7,000-14,000 | 72-79% | 8.5-10.5% | 9-12× | +4,800 keys (FY26) |
| Upscale (Branded) | ₹4,500-7,000 | 70-77% | 9.0-11.0% | 7-10× | +6,200 keys (FY26) |
| Mid-Scale | ₹2,800-4,500 | 68-75% | 10.0-12.0% | 6-8× | +8,500 keys (FY26) |
| Economy | ₹1,800-2,800 | 66-74% | 11.0-13.5% | 5-7× | +5,200 keys (FY26) |
| Heritage/Boutique | ₹5,500-15,000 | 65-75% | 9.5-11.5% | 8-12× | +900 keys (FY26) |
Transaction Volume and Absorption Activity — FY26
Q1 FY26
INR 3,200 Cr
Total transaction volume
Commercial: 28 deals
Hospitality: 12 deals
Retail: 8 deals
Q2 FY26
INR 4,100 Cr
Total transaction volume
Commercial: 32 deals
Hospitality: 15 deals
Retail: 10 deals
Q3 FY26
INR 4,800 Cr
Total transaction volume
Commercial: 35 deals
Hospitality: 18 deals
Retail: 11 deals
Q4 FY26 (est)
INR 5,400 Cr (est)
Total transaction volume
Commercial: 38 deals
Hospitality: 20 deals
Retail: 13 deals
Proprietary Advisory Intelligence — Live Mandate Pipeline
Live Mandate Pipeline and
Execution Intelligence
Every data point on this page is continuously validated against India Gully's active advisory mandate pipeline. Our institutional advisors are executing live transactions across all 8 strategic corridors covered — delivering ground-truth intelligence beyond published indices.
INR 2,100 Cr+
Active mandate pipeline
8
Live transaction mandates
6
Advisory verticals
15+
Hotel projects advised
Pan-India
Advisory footprint
Immediate Diagnostic Review Window
Mandate review SLA
Data Sources & Disclaimer: Market data compiled from JLL, CBRE, ANAROCK, STR (Smith Travel Research),
Reserve Bank of India, Ministry of Tourism (India), IMF World Economic Outlook (Oct 2025), and India Gully's proprietary advisory research.
All figures are indicative and subject to variation by specific asset, location, and transaction structure.
This dashboard is for institutional informational purposes only and does not constitute investment advice, a certified market report, or a formal valuation opinion.
For transaction-specific advisory, contact India Gully's team.