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India ranks at 34th in Global Real Estate Transparency Index 2020

The improvement in India’s ranking in the Global Real Estate Transparency Index is because of the progress in the country’s Real Estate Investment Trust (REIT) framework which attracted greater interest from the institutional sector.

Jul 8, 2020 14:00 IST
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India has ranked 34th globally in Jones Lang LaSalle’s biennial Global Real Estate Transparency Index (GRETI). The higher ranking is because India’s real estate industry has registered one of the largest improvements regionally and globally in the index.

As per Jones Lang LaSalle (JLL’s) official release, globally a higher level of transparency has been observed in the real estate market in India because of the enhanced market data, regulatory reforms, and sustainability initiatives.

The 2020 GRETI has been launched at a time of massive societal and economic disruption where the need for accurate and timely data, transparent processes, and high ethical standards are in a closure focus in the country.

What led to the improvement in the country’s ranking?

As per JLL, the improvement in India’s ranking in Global Real Estate Transparency Index is because of the progress in the country’s Real Estate Investment Trust (REIT) framework which attracted greater interest from the institutional sector.

India has also acquired a place into the top 20 for Sustainability Transparency because of the active role of organisations such as Green Rating for Integrated Habitat Assessment and Indian Green Building Council.

JLL on India’s ranking:

CEO and Country Head (India) JLL, Ramesh Nair stated that India has shown a steady improvement in the Global Transparency Index over the years. In fact, along with the Philippines, Indonesia, and Vietnam, India is among the handful of countries that have seen the highest improvement because of the positive government support and enhanced ecosystem of transparency.

He added that the national REIT framework has been a major contributor in offering transparency in India and with ongoing governance and progress, it will continue to attract more interest from institutional investors.

Over the decade, India has been showing promising developments and is now at the edge of being transparent within the GRETI 2020 rankings.

Simultaneously, India’s rank in the World Bank’s ‘Ease of doing business ranking’ has improved significantly from 142 in 2014 to 63 in 2019.

Also, India's ranking for ease in obtaining construction permits has also witnessed the highest jump from 182 to 27 in 2019.

Ranking of other countries:

Mature markets have maintained their top positions

•  Australia- 3

•  New Zealand- 6

Rankings of Five Asia Pacific Markets

•  China- 32

•  Thailand- 33

•  Indonesia- 40

•  Philippines- 44

•  Vietnam- 56

About JLL’s Global Real Estate Transparency Index:

Since 1999, JLL has been tracking real estate transparency. This new 11th edition of GRETI covers 162 city regions and 99 countries and territories.

The latest survey done by Jones Lang LaSalle (JLL) has been extended to quantify 210 separate elements of transparency. It includes additional coverage on health and wellness, sustainability and resilience, alternative sectors, and proptech.

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