India's Real Estate Sector Rises to Transparency Tier in Global Rankings
India's real estate sector has made a remarkable leap forward in the Global Real Estate Transparency Index (GRETI), reaching the transparent tier for the first time.
Real EstateIndiaTransparencyJllGretiReal Estate MumbaiAug 29, 2024
According to the index, India has made a remarkable leap forward in this year's index, reaching the transparent tier for the first time. This progress is a result of institutionalisation in the commercial market and improved access to diverse real estate datasets.
India's ranking in the index is above countries like Thailand, Malaysia, and Saudi Arabia. India has moved to 31st rank under the transparent tier with a composite score of 2.44 in GRETI 2024. The top slot under the High Tier has been taken by the United Kingdom (1.24) and France (1.26).
The improvement in the ranking of India's real estate to the transparent sector will help to attract capital inflows and boost India's standing among global investors. The index showed that globally, real estate markets with high transparency ratings garner 80 per cent of global capital flows.
Frequently Asked Questions
What is the Global Real Estate Transparency Index (GRETI)?
The Global Real Estate Transparency Index (GRETI) is a benchmark for real estate market transparency that evaluates the legal and regulatory environment, enforcement mechanisms, and data availability across a wide range of geographies.
What is India's ranking in the GRETI 2024?
India has moved to 31st rank under the transparent tier with a composite score of 2.44 in GRETI 2024.
What are the factors that contributed to India's improvement in the GRETI ranking?
The improvement in the ranking of India's real estate to the transparent sector is a result of institutionalisation in the commercial market and improved access to diverse real estate datasets.
What are the benefits of improving transparency in the real estate sector?
The improvement in the ranking of India's real estate to the transparent sector will help to attract capital inflows and boost India's standing among global investors.
What are the areas that require improvement for India to move up the Transparency ratings to the next tier?
The adoption of more detailed investment performance indices, enriched data coverage for alternative sectors, comprehensive information on real estate financing, accessibility of public beneficial ownership records, and intensifying commitment to ESG (Environmental, Social, and Governance) are essential for India to move up the Transparency ratings to the next tier.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora