A new generation of Indian family offices, managing the wealth of tech and startup billionaires, is shifting away from traditional real estate investments towards stocks, private equity, and alternative assets like REITs and InvITs. The decline in direct real estate interest stems from unattractive rental yields, regulatory challenges, and management complexities. Instead, many family offices are now diversifying their portfolios, with significant allocations to equities and private credit. The growing preference for simpler, more liquid investment options reflects a changing landscape where younger investors favor efficiency over the burdens of direct property ownership.