Qatar Investment Authority (QIA) is in talks to invest $200 million in a residential property in India, a source told Reuters. QIA is the sovereign wealth fund of the gas-rich Gulf emirate.

According to the report, QIA is holding conversations with Mumbai-based Kotak Realty Fund, which would manage the investments on behalf of the Middle Eastern fund. Kotak is the real estate private equity arm of Kotak Mahindra Bank Ltd. 

Kotak would also make a small investment and plans to focus on residential property developments in major cities across Asia's third-largest economy for QIA. The deal, however, has not been finalized, the Reuters source said.

Based on a data by the Sovereign Wealth Fund Institute, QIA is estimated to have over $115 billion in assets under management (AUM). 

QIA's AUM is expected to significantly increase as the state completes its expansion projects to become the world's largest liquified natural gas (LNG) exporter with 77 million tons output capacity, New York Times said in a separate report.