India’s real estate market openness is among the best in the world: JLL
According to JLL’s 2022 Global Real Estate Openness Index (GRETI), India’s real estate market disclosure is one of the top ten most advanced international markets.
India improved its aggregate transparency score (from 2.82 to 2.73) between 2020 and 2022, outperforming several of the top ten transparent markets, including the United Kingdom, Australia, Canada, Ireland, Sweden, New Zealand, Belgium, and Japan.
According to JLL, expansionism investment and the growing number of real estate investment trusts (REITs) are assisting to widen market data and bring more professionalisation to the sector, complementing evolution over the course of the Model Tenancy Act and digitization of land registries and market data, including through the Dharani and Maha RERA platforms.
“India’s drive toward greater openness will pique investment interest and boost occupier trust.” As a consequence of the nation’s constant attempts to make correct information available, implement legal safeguards for property ownership, and improve the regulatory framework to enable transactions, we will see greater capital allocation into the country. Regulatory improvements in the Indian real estate sectors, such as RERA and digitalization of all transactions, have resulted in more clean and accessible data availability, allowing the nation to achieve meaningful strides in the index,” said Radha Dhir, CEO and Country Head, India, JLL.
“Sustainability will be a primary emphasis for the world in the future.” We have seen India make significant progress in sustainability in recent years, but there is a need for a more concentrated and consistent cognitive process and implementation desire to bring sustainability into the forefront,” she added.
In the future
Transparency and sustainability are increasingly merging to produce new, informative, and game-changing real estate trends. Unified sustainability evaluation measures will make global asset benchmarking easier. Having comprehensive data monitoring obligatory will be critical to decarbonizing the urban landscape and mitigating climate risk across countries.
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