India ranks 34th in JLL’s Global Realty Transparency Index

India’s Global Real Estate Transparency Index ranking has improved by one notch to 34 on the back of regulatory reforms, better market data and green initiatives, according to property consultant JLL. India was ranked 35th in the index during 2018 bi-annual survey, while the country was at 36th position in 2016 and 39th in 2014.

Global Real Estate Transparency Index

• GRETI ranks 100 markets based on combination of quantitative market data and survey results across on 186 individual measures divided into 14 topic areas grouped and weighted into six broad sub-indices:​​​​ performance measurement (weightage 28.5%), market fundamentals (16.5%), governance of listed vehicles (10%), regulatory and legal (25%), transaction process (15%) and sustainability (5%).
• The index scores markets on scale of 1 (being highest possible score) to 5 (lowest score).
• Depending on their overall performance, markets are assigned to one of five transparency tiers viz. highly transparent, transparent, semi-transparent, low transparency and opaque.

Key Highlights of 2018 GRETI

• Top 10 countries are: United Kingdom (1st), Australia (2nd), United States (3rd), France (4th), Canada (5th), Netherlands (6th), New Zealand (7th), Germany (8th), Ireland (9th) and Sweden (10th).

Top 5 worst performers

• Venezuela (100), Libya (99), Senegal (98), Mozambique (97) and Ivory Coast (96).

BRICS countries

• South Africa was ranked at 21st position, followed by China (33rd), Brazil (37th) and Russia (38th).

South Asia

• Sri Lanka (66th position), Pakistan (75th).

India related Facts

• In this edition of index, India has moved up one place due to improvement in market fundamentals, policy reforms, and liberalisation of FDI.
• Besides, digitisation of property records and industry status accorded to affordable housing also has helped India to improve its rankings.
• India has emerged as one of the top ten countries to register maximum improvement in transparency in real estate over the last two years.

UPSC