INDIAN REAL ESTATE MARKET ONE OF THE MOST TRANSPARENT GLOBALLY

Here’s some real estate news to make your day better!

Did you know that the Indian real estate market has become one of the most transparent in the world! This is to the point where it is now among the top 10 most transparent markets in the world. India has a higher overall transparency score than the top 10 markets worldwide, including Australia, the UK, Canada, Japan, and more, with a range of 2.82 to 2.73.

India improved its transparency score between 2020 and 2022 (from 2.82 to 2.73) more than some of the markets with the highest levels of transparency, according to JLL’s 2022 Global Real Estate Transparency Index (GRETI) report. A major part of this is because of digitisation and the availability of data for transaction processes.

RERA and the digitisation of real estate

Regulatory compliance with RERA and digital transactions has improved India’s ranking on the Global Transparency Index. India improved more than several of the top 10 transparent markets between 2020 and 2022, including the UK, Australia, Canada, and Ireland.

India’s drive for transparency has been mostly driven by digitization, which has improved the availability of data, as well as general market dynamics, a growing REIT market, and new sustainability legislation.

 

The desire to diversify real estate holdings

Diversification continues to be the key focus for many investors in the Asia Pacific area. As an active alternative to real estate investments, institutional capital managed by asset managers such as sovereign wealth funds and pension funds can be used. Nearly two-thirds of the markets are subject to laws, thus there is an increased demand for openness in the specialised real estate market.

 

Through the participation of tech platforms and legislative reforms, India has experienced rapid development in the availability of data frequency throughout major cities and asset classes, which has to be duplicated in other regions of the country and alternative industries with the work in progress.

 

Sustainability of Real estate

The last few of years have seen little significant change in India’s sustainability practises, but investors and occupiers are pushing this transformation. Numerous initiatives are in progress, either at the national or municipal level. These include the National Guidelines on Responsible Business Conduct, which will go into effect in 2021, and local plans like Mumbai’s Climate Action Plan (MCAP), which will be announced in 2022 and which would mandate a building energy performance benchmarking system and mandatory reporting for the largest 1,000 enterprises by market size.

 

What the future holds?

Transparency and sustainability are combining to produce game-changing changes in the nation’s real estate market. The creation of benchmark assets will be simple, with regular and uniform sustainability measures. Mandatory data reporting emerges as a critical component of global environmental decarbonization and risk mitigation for the climate.

To improve the transparency bar and live up to high expectations, a path from regulations to practice in the areas of finance, land, taxation, and money laundering will be essential.

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