JLL GRETI 2024 report unfolds India is a transparent market for real estate

The increased institutionalization of the commercial real estate market and enhanced access to diverse real estate data are anticipated to attract capital inflows and elevate India’s position among global investors. According to the Transparency Index, markets with high transparency ratings receive 80% of global capital flows.

The institutionalization of the commercial market and enhanced access to diverse real estate data are expected to attract capital inflows and enhance India's appeal to global investors. According to the Transparency Index, markets with high transparency ratings capture 80% of global capital flows. 

India has advanced to 31st place in the transparent tier with a composite score of 2.44 in the GRETI 2024. The top positions in the High Tier are held by the United Kingdom (1.24) and France (1.26), while Singapore has entered the Highly Transparent group this year.

The top 13 countries are classified as highly transparent, those ranked 14th to 35th are considered transparent, and countries ranked 36th to 50th are categorized as semi-transparent.

The Index indicates that proactive financial regulation, new climate risk disclosure guidelines, streamlined building regulations, and digitized land records have all contributed to India achieving a transparent tier ranking for the first time, having been ranked 36th in the semi-transparent tier in 2022.

The data also shows that India is the only country in Asia that features in the top 10 of the ‘Transaction process’ parameter. Due to a large share single ownership assets in office leasing, organised transaction process, regulatory changes such as RERA has helped India to score high on this parameter.

Published every two years, JLL and LaSalle's Global Real Estate Transparency Index (GRETI) serves as a benchmark for property investors, developers, and corporate occupiers. The index assesses market transparency by evaluating the legal and regulatory environment, enforcement mechanisms, and data availability, offering a global comparison of operating conditions across various geographies. The 13th edition of the index features 256 individual indicators to measure market transparency across 89 countries and territories, as well as 151 cities worldwide.

Karan Singh Sodi, senior managing director – Mumbai MMR and Gujarat, and Head - Alternatives, India, JLL, said, “India's ascent to the transparent tier in JLL’s Global Real Estate Transparency Index underscores the industry's cohesive efforts and governmental backing. This achievement is poised to attract capital inflows and boost India's standing among global investors. Markets with high transparency ratings garner 80% of global capital flows.”

Despite significant regulatory improvements, the report suggests that further enhancing transparency will require collective efforts to democratize data access, increase institutional participation in public markets, and commit to sustainability goals.

Karan Singh Sodi further added, “These measures are critical as India anticipates near-record capital inflows into real estate, with $4.8 billion recorded in H1 2024.”