India's Real Estate Market Enters Transparent Zone, Ranks 31st Globally
India's top real estate markets have entered the 'transparent' zone for the first time, driven by institutionalisation of commercial assets and improvement in data access.
Real EstateTransparencyIndiaJllGlobal Real Estate Transparency IndexReal Estate MumbaiAug 27, 2024
The improvement in transparency is attributed to the institutionalisation of commercial assets and better access to diverse real estate data sets. India is the top global improver in the 2024 index, making significant strides in transaction processes and market fundamentals.
The country's progress towards transparency is notable, with tier-I markets moving to the transparent tier for the first time. This is driven by institutionalisation, data accessibility improvements, initiative-taking financial regulation, climate risk disclosure guidelines, streamlined building regulations, and digitisation of land records.
India ranks among the top ten global destinations for transaction processes and 12th for market fundamentals. The report highlights that India's ascent to the transparent tier is poised to attract capital inflows and boost the country's standing among global investors.
However, there is room for improvement, particularly in establishing efficient dispute-resolution mechanisms. Despite a robust regulatory evolution, the report suggests that enhancing transparency further requires collective action to democratise data access, bolster institutional participation in public markets, and commit to sustainability goals.
JLL's Global Real Estate Transparency Index 2024 shows that India is leading the global front in enhancing transparency, with expanded data coverage and improved data quality across various property sectors. The country is expected to continue its upward trajectory in terms of transparency, driven by ongoing regulatory reforms and increasing institutional participation.
Frequently Asked Questions
What is the Global Real Estate Transparency Index?
The Global Real Estate Transparency Index is a report by JLL that measures the transparency of real estate markets across the globe.
What is the ranking of India in the Global Real Estate Transparency Index 2024?
India ranks 31st among 89 countries in the Global Real Estate Transparency Index 2024.
What are the factors driving India's improvement in transparency?
The improvement in transparency is attributed to the institutionalisation of commercial assets and better access to diverse real estate data sets.
What is the expected impact of India's ascent to the transparent tier?
India's ascent to the transparent tier is poised to attract capital inflows and boost the country's standing among global investors.
What are the areas for improvement in terms of transparency in India's real estate market?
There is room for improvement, particularly in establishing efficient dispute-resolution mechanisms.
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