India Excerpts and Perspectives: Global Real Estate Transparency Index
India is among the top ten most improved countries in GRETI 2022
- Samantak Das
- Rohan Sharma
India is among the top ten most improved countries in the 2022 edition of JLL and LaSalle’s Global Real Estate Transparency Index (GRETI). The 12th edition of GRETI covers 156 cities across 94 countries and territories globally, based on a comprehensive survey of the availability and quality of performance benchmarks and market data, governance structures, regulatory and legal environments, transaction processes and sustainability instruments.
The 2022 Index captures the granular differences in transparency including the number and quality of data providers in each market and the frequency of updates in data along with the availability of information on rent collection rates and asset utilization levels. Greater data availability for alternative sectors as well as disaggregated data items across the core property types have been added and so have questions on the quality and transparency of the procurement and tendering process. Questions pertaining to adoption rates of proptech platforms and digital tools across property lifecycle have been added as well. This has resulted in an expanded set of individual factors, which have increased by 21% to 254 factors.
India now stands at the cusp of entering the ‘Transparent’ category. India’s improvement in its composite transparency score between 2020 and 2022 was higher than some of the top ten transparent markets like the UK, Australia, Canada, Ireland, Sweden, New Zealand, Belgium and Japan. In the Market Fundamentals parameter, India ranks among the top 20 countries globally and has improved its position and composite score in 2022 through enhanced data provision by JLL as well as other data providers across core asset classes. On the Transaction Process parameter, India’s score improvement was remarkable in GRETI 2022 given the regulatory initiatives and better & deeper data availability. Access to asset information has also improved to a great extent. India has made rapid strides in the availability of high-frequency data across its big cities and core asset classes through the intervention of tech platforms and regulatory reforms.
