A recent report by JLL’s Global Real Estate Transparency Index (GRETI) 2024 has lauded India’s significant strides in enhancing transparency within its real estate market. The country’s impressive leap from the 35th position in 2018 to the 23rd rank in 2024 underscores its commitment to bolstering market integrity and attracting global investors.
Several key factors have contributed to India’s improved transparency ranking. The government’s unwavering focus on implementing regulatory reforms, such as the Real Estate Regulatory Authority (RERA), has played a pivotal role in instilling greater confidence among investors and homebuyers. RERA’s mandate to regulate real estate transactions and protect consumer interests has significantly reduced ambiguity and fostered a more level playing field.
Moreover, advancements in technology have also played a crucial role in enhancing transparency. Online platforms and digital tools have empowered consumers with access to comprehensive property information, enabling them to make informed decisions. Additionally, the increasing adoption of proptech solutions has streamlined various aspects of real estate transactions, from property searches to documentation and payment processes.
The GRETI report’s recognition of India’s progress is a testament to the nation’s unwavering commitment to creating a more transparent and efficient real estate market. This positive development is expected to attract further foreign investment, stimulate economic growth, and drive sustainable development across the country.
