Global Real Estate Transparency Index: India’s real estate market transparency is amongst the top ten globally

India’s real estate market transparency is amongst the top ten most improved markets globally, according to JLL’s 2022 Global Real Estate Transparency Index (GRETI) released today. India’s improvement in transparency score between 2020 and 2022 (from 2.82 to 2.73) is higher than some of the highly transparent markets, due to digitization and data availability for transaction processes in addition to overall market fundamentals.

According to JLL, India’s improvement in transparency is reinforced by increased institutional investment and the growing numbers of real estate investment trusts (REITs) helping to broaden market data and bring more professionalization to the sector to complement regulatory initiatives like the Model Tenancy Act, and digitization of land registries and market data, such as through the Dharani and Maha RERA platforms.

Regulatory changes: “The move towards greater transparency in India will intensify investor interest and bolster occupier confidence. As a result, we will see more capital deployment into the country as it demonstrates consistent efforts to make accurate data available, enforce legal protections for property ownership, and enhance the regulatory environment to facilitate the transactions. Regulatory changes in the Indian real estate sectors like RERA and digitisation in all transaction processes have led to a more sanitised and transparent data availability helping the country make tremendous progress in the index,” said Radha Dhir, CEO and Country Head, India, JLL.

“Sustainability continues to be the key focus for the world going ahead. We have seen India take great strides in sustainability in the past years, however, there is a need for a more concerted and congruent thought process and action plan to bring sustainability into the main,” she added.

Process improvement: Improvement in Transaction Process was the parameter on which India’s score improvement was the highest in GRETI 2022. Given the regulatory initiatives, and better and deeper data availability, access to asset information has improved to a great extent.