Maharashtra on Third rank in Real Estate Transparency

The real estate market in the country’s financial capital may be overheated, but the state as a whole has been ranked third in terms of transparency in the realty sector.

The Real Estate Transparency Survey 2011 ranks Maharashtra behind Andhra Pradesh and Tamil Nadu on various factors determining transparency. The state is followed by Gujarat, NCR-Delhi and Karnataka on the transparency index of 20 leading Indian states. The study has been done by the Confederation of Real Estate Developers Association of India (CREDAI) and property consultants Jones Lang LaSalle.

Of the five factors that have been taken into consideration while arriving at the ratings, Maharashtra ranks first as far as availability of market information and reforms in urban local bodies is concerned. The report explains that there is easy flow of information about the sector through real estate portals, financial statements of listed developers and real estate indices, while several urban reforms have been car