India's Real Estate Sector Rises to Transparent Tier in Global Rankings
India's real estate sector has made a significant leap forward in the Global Real Estate Transparency Index (GRETI), reaching the transparent tier for the first time.
Real EstateIndiaGretiTransparencyJllReal Estate NewsAug 29, 2024
The index, published by JLL, a real estate services company, 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.
According to the index, India has made a remarkable leap forward in this year's index, reaching the transparent tier for the first time. The index highlighted that 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). In the last index in 2022, India was ranked 36th under the semi-transparent tier in 2022.
The index stated that 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 improved ranking in the GRETI?
The index highlighted that this progress is a result of institutionalisation in the commercial market and improved access to diverse real estate datasets.
What are the benefits of India's improved ranking in the GRETI?
The index stated that 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 for improvement for India to move up the Transparency ratings to the next tier?
The index added that 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 are essential for India to move up the Transparency ratings to the next tier.
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