India ranked 35th in 2018 Global Real Estate Transparency Index
India has been ranked 35th in the 2018 Global Real Estate Transparency Index (GRETI), according to a report by real estate advisory firm Jones Lang LaSalle Inc. (JLL). The ranking is expected to improve further in the GRETI 2020 survey, on the back of several government initiatives such as Real Estate (Regulation and Development) Act (RERA), GST and Benami Transactions Act. In it, India’s real estate market is currently placed in the ‘semi-transparent’ zone. According to the survey, UK is at the top position followed by Australia and the US. France, Canada, Netherlands, New Zealand, Germany, Ireland and Sweden are in top 10 in the list of 100 countries. Sri Lanka is at the 66th position and Pakistan at 75th among south Asian countries. Venezuela is the least transparent market with 100th rank. The index measures transparency based on factors such as data availability, authenticity and accuracy; governance of public agencies as well as stakeholders of the realty sector; transaction processes and costs associated with those; and the regulatory and legal environment.
Topics: Benami Transactions (Prohibition) Act • Culture • Dubai Real Estate Regulatory Agency • JLL • Public sphere • Real Estate (Regulation and Development) Act • Real estate in India • Real property • Rera • Transparency