New Delhi: Indian real estate has attracted $62.8 billion (approximately Rs 4.81 lakh crore) of institutional investment since 2006, driven by series of reforms in the sector, according to property consultant JLL India. "The series of reforms that started in 2014 led to increased capital flows over the years. Out of the total Institutional investment of $62.8 billion from 2006 to March 2022, 58 per cent was received from 2015 onwards," the consultant said. The key reforms like the introduction of REITs in 2014, the Real Estate (Regulation and Development) Act (RERA) in 2016, the Benami Transactions (Prohibition) Act, GST, and the progressive relaxation of FDI norms over the years led to improved transparency, accountability, professional management, and development of markets for smoother entry and exit of capital.
The positive impact of the reforms resulted in investments to the tune of $36.7 billion flowing into Indian real estate from 2015 to Q1 of 2022 calendar year, it said. "Deal flow currently looks very healthy, with $943 million transacted in Q1 and with several large deals in the pipeline we expect 2022 investment volumes to be at par with 2018 and 2019 (pre covid) levels," said Lata Pillai, MD and Head, Capital Markets, India, JLL.