Where CRE statistics from official sources are available, they are not derived using a harmonised methodology. There is similarly patchy coverage in statistics for rent indices and rent yields, vacancy rates, transaction numbers and values, and to a lesser extent, construction starts and construction completions.
In a contemporaneous development, following liberalisation in the Indian Economy during the 1990s, there was an increasing clamour for reduced Government ownership and involvement in the financial institutions mainly from efficiency, accountability and moral hazard perspectives. I would return to some of the problems faced by the DFIs in India a little later in my address.