No RERA impact? India moves up a spot to 35th on real estate transparency index
6 years, 8 months ago

No RERA impact? India moves up a spot to 35th on real estate transparency index

Live Mint  

Mumbai: India has moved up just one spot in the global real estate transparency index from 36 in 2016 to 35 in 2018, despite the implementation of the Real Estate Act or RERA, according to a report by real estate advisory firm Jones Lang LaSalle Inc.. RERA was implemented in May 2016 to bring accountability and transparency into the sector. The report, however, said that India is one of the 10 countries that have registered maximum improvement in transparency in real estate over the last two years. Since 2014, India has moved up by five spots from 40th in the global real estate transparency index. “Improved market fundamentals, policy reforms and liberalization of foreign direct investment into realty sector and retail and strengthening of information in public domain were main influencers, along with digitization of property records and assigning industry status to affordable housing,” Ramesh Nair, chief executive and country head, JLL India, said in the report.

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