India moves up to 34th position on Global Real Estate Transparency Index
India is among the countries that have seen the highest improvement due to governmental support and enhanced transparency
India’s real estate industry has established itself in the 34th position on the Global Real Estate Transparency Index following higher levels of transparency on regulatory reforms.
The improvement is led by the progress in the country’s REIT framework attracting greater interest from institutional investors, stated a report in Livemint. It said India has also edged into the top 20 for Sustainability Transparency through the active role of organizations like the Indian Green Building Council and Green Rating for Integrated Habitat Assessment.
Ramesh Nair, CEO and Country Head (India) JLL, said India has seen a steady improvement in the Global Transparency Index. “In fact, along with Indonesia, Philippines and Vietnam, we are among the handful of countries that have seen the highest improvement owing to positive governmental support and an enhanced ecosystem of transparency,” he said, according to the Livemint report.
However, there is pressure from investors, businesses and consumers to further improve real estate transparency to compete with other asset classes and meet heightened expectations about the industry’s role in providing a sustainable and resilient built environment in the age of COVID-19.
The Chief Economist and Head of Research & REIS - JLL India, Samantak Das said investment into commercial real estate has inevitably paused due to the pandemic, but the overarching trend toward rising allocations to this asset class will continue.
The national REIT framework has been a major contributor to transparency in India. With ongoing progress and governance, the country will continue to attract more interest from institutional investors.
Read the full report in the Livemint