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.
Related News Articles
PVR INOX to Optimize Portfolio by Shutting Down 70 Underperforming Screens
The company plans to explore monetisation of non-core real estate assets in prime areas, including Mumbai, Pune, and Vadodara, and add 120 new screens in FY25.
China’s Real Estate Stimulus Boosts Indian Steel Industry
Mumbai: Indian steel producers are seeing a positive impact from China’s real estate stimulus package, as Chinese steel prices have risen above domestic levels for the first time in months.
Pune Struggles with Post-Diwali Waste, Civic Concerns Rise
Pune, a city known for its cultural heritage and bustling urban life, is grappling with the aftermath of Diwali. The festival of lights, while bringing joy and festivities, has left the city with a significant waste management challenge. Civic authorities
Supply of Affordable Homes Drops by 30% in 2024: PropEquity Report
In a significant shift in the real estate market, the supply of homes priced up to Rs 1 crore has seen a substantial decline of 30% in 2024, according to a recent report by PropEquity. The report highlights the growing gap between demand and supply, raisi
Nexus Select Acquires Vega City Mall in Bengaluru for 913 Crores
Nexus Select, a prominent player in the Indian real estate market, has made a significant acquisition by purchasing Vega City Mall in Bengaluru for a whopping 913 crores. This strategic move underscores the company's commitment to expanding its portfolio
Property Values Surge by 128% in Top Seven Cities from 2021 to 2024: Anarock Data
Property values in the top seven cities in India witnessed a significant 128% increase between 2021 and 2024, according to data from Anarock, a leading real estate consultancy. This surge is outpacing rental yields, indicating strong long-term investment