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.
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