In India, the real estate sector used to be marred with problems such as confusion of ownership, high corruption rates, poor completion of projects and untransparency in quotations. Nevertheless, the country has so far developed over the past years in enhancing transparency in the property market. Based on the world-leading indices of property transparency, India has currently become one of the nations that are rapidly advancing in this area.
But what does it really mean for a property market to be “transparent”? And how has India achieved this transformation?
We will immerse ourselves in the story of how transparency was achieved in the Indian real estate market, citing the most outstanding changes, technology improvements, and institutional work that took the position of India in the global ranking to a new level.
Understanding Transparency in Real Estate
Transparency in a property market refers to the extent to which accurate and timely information about property transactions, legal frameworks, ownership, taxation, and regulations is available to all stakeholders—buyers, sellers, investors, and regulators. A transparent market allows:
- Informed decision-making
- Lower risks for investors
- Greater accountability for developers
- Stronger consumer protection
Key Drivers Behind India’s Transparent Property Market
1. Implementation of RERA (Real Estate Regulation and Development Act), 2016
RERA has been the most significant step toward making the Indian real estate sector more consumer-friendly and transparent.
- Mandatory project registration: Builders must register projects before marketing.
- Disclosure norms: Developers must share project timelines, land titles, and financials.
- Grievance redressal: Buyers can file complaints directly with the state RERA authorities.
RERA’s pan-India rollout has improved buyer confidence and made developers more accountable.
2. Digitization of Land Records and Property Titles
Number of states have made robust efforts under a scheme of Digital India Land Records Modernization Programme (DILRMP) to go digital in regards to land records digitization. The highlights are:
- Online property title searches
- Digitally signed land records
- Integration of land registries with revenue departments
This has helped reduce land disputes and fraud, especially in semi-urban and rural areas.
3. Goods and Services Tax (GST) Integration
Incorporation of GST in real estate has also led to uniformity of tax structure among different states in real estate transactions and also ease of absorbing unseen taxation which has enabled the increased predictability of property ownership costs.
- Input tax credit benefits (limited to under-construction projects)
- One-tax regime replaced multiple levies like VAT, Service Tax, and Entry Tax
This standardization has led to greater clarity in pricing and improved compliance.
4. Benami Transactions (Prohibition) Amendment Act, 2016
This act restricts property transactions done in someone else’s name (benami), which were often used for tax evasion and money laundering. Strong enforcement has:
- Reduced black money in real estate
- Encouraged genuine transactions
- Increased legal accountability of property ownership
5. Launch of Real Estate Investment Trusts (REITs)
India’s introduction of REITs has brought institutional credibility to the real estate market. REITs require:
- Detailed financial disclosures
- Regular valuation updates
- Third-party audits
This has opened up the real estate investment space to retail and international investors, enhancing transparency through market-driven mechanisms.
Global Recognition: India’s Rise in Transparency Rankings
India is 60 with an increase of 31 since 2010, and based on the JLL Global Real Estate Transparency Index (GRETI), India is seen to be ranked highly among others. India has been classified as one of the leading improvers in the 2024 GRETI report in the semi-transparent column, and it has come nearer to the transparent bracket.
Key highlights from India’s improved global perception:
- Enhanced governance mechanisms
- Regulatory enforcement through RERA
- Availability of market data and analytics
- Growing adoption of ESG (Environmental, Social, and Governance) principles
Role of Technology and PropTech Startups
The emergence of technology-driven platforms has further boosted transparency in property dealings. These platforms provide:
- Virtual property tours
- Automated valuation tools
- Legal document verification
- Title diligence reports
Tech-led innovation is transforming how buyers, sellers, and agents interact in the real estate ecosystem.
Popular examples include:
- CERSAI: Government-backed registry for collateral and loan-linked property
- CRE Matrix & Square Yards: Data-backed platforms providing project and locality-level insights
- Online grievance portals of state RERA authorities
Transparency Benefits for Stakeholders
Buyers:
- Verified information on project timelines, approvals, and developer background
- Reduced legal risks and documentation errors
- Greater trust in the home-buying journey
Investors:
- Better ROI projections through accessible market data
- Protection from fly-by-night operators
- Entry into REITs and fractional ownership platforms with legal safeguards
Developers:
- Enhanced credibility in the eyes of both domestic and international stakeholders
- Smoother financing and approval processes
- Improved project visibility and marketing reach
Challenges Still to Overcome
While progress is commendable, certain challenges remain:
- Slow RERA implementation in some states
- Fragmented digital infrastructure across local municipal bodies
- Title insurance and single-window clearance are still evolving
- Lack of standardization in property valuation methods
To sustain and enhance transparency, continuous effort is needed at both central and state levels.
Future Outlook What Lies Ahead?
India is steadily moving towards becoming a fully transparent property market. The following trends will likely shape the next phase of progress:
- National digital property ID system for each parcel of land
- Blockchain in land records to prevent tampering and duplication
- AI-based property analytics for dynamic pricing and project evaluation
- Increased investor protections under SEBI and RBI frameworks for REITs and NBFCs
The Indian property market has become neither unregulated nor opaque as it was before. Leverage policy changes such as RERA, better tax clarity under GST, computerization of land records, and more disclosure of data through REITs and PropTech, and the sector today is much more transparent and acceptable to investors.
This revolution is not only useful to the homebuyers but also a giant stride towards making India a competitive real estate destination to invest in. With increasing number of stakeholders adopting a path of compliance, technology and moral conduct, the Indian property sector is headed in the right direction regarding global transparency.
If you’re planning to invest or buy property in India, now is one of the most secure and informed times to do so. The transparency revolution is here—be a part of it.
FAQ,s Frequently asked questions
1. What does it mean that India’s property market is now ‘transparent’?
Transparency in the property market means buyers and investors can access clear information about property titles, ownership, pricing, and regulatory compliance. It reduces fraud, ensures legal clarity, and builds trust between developers, investors, and homebuyers.
2. What initiatives have improved transparency in India’s real estate sector?
Key initiatives include the Real Estate (Regulation and Development) Act, 2016 (RERA), mandatory property registration, digitized land records, and increased disclosure norms for builders. These ensure projects are approved, timelines are clear, and legal documentation is accessible.
3. How does RERA contribute to a transparent property market?
RERA mandates developers to register projects, disclose project plans, timelines, approvals, and financial statements. Buyers can track progress online, file complaints for delays or misrepresentation, and get legal recourse, making the market more accountable.
4. How has digitization helped in property market transparency?
Digitization of land records, property registrations, and municipal approvals allows easy verification of ownership, property history, and compliance status. It reduces disputes, discourages fraudulent transactions, and accelerates the buying process.
5. What benefits do buyers and investors get from a transparent market?
A transparent market ensures legal safety, reduces risk of fraud, makes pricing fair, and builds investor confidence. Buyers can make informed decisions, and developers benefit from a trustworthy environment that attracts long-term investment.
