According to the report, transparency trend around the world in real estate continues to improve. The report further says, “Nearly one-half (27 out of 56) of the markets surveyed in 2006 demonstrated an improvement in their composite transparency scores between 2006 and 2008.”

Anuj Puri, chairman and country head India, Jones Lang LaSalle Meghraj says, “This can be a good news for corporations and investors who are looking for total occupancy and but are analysing the transaction costs in the emerging markets before striking the deal. The details of the transactions can be obtained even in markets with low transparency rates.”

He adds, “But high transparency does not prevent market volatility. The most transparent commercial real estate investment markets-listed real estate securities-are also most volatile.”

The report further says, “Delhi retains its position as India’s most transparent market. Some other transparent markets are in Tier 3 cities, such as Chandigarh and Kochi, which equally have the similar growth potential as Mumbai and Bangalore. In India, the variance in transparency levels between Tier 1, Tier 2, and Tier 3 cities is lower than those in the PRC and Russia.”

Commenting on the Indian scenario, Puri of JLLM says, “Growth in the Indian real estate is organic and it is not as organised as in the Western countries. And Asia Pacific region is still emerging like a corridor. Anything which is developed is saturated. It has less improvement potential.”