Synopsis
A recent report reveals that since the initiation of RERA in 2017, over 1.19 lakh projects have been registered across the top 10 states. Maharashtra leads with 48,047 projects, while significant contributions come from Tamil Nadu and Gujarat. The report highlights the impact of RERA on compliance and investment in the real estate sector.Key Takeaways
- 1.19 lakh projects registered across top 10 RERAs.
- Maharashtra leads with 48,047 projects.
- Uttar Pradesh has the highest average housing units per project.
- RERA has improved transparency in the real estate sector.
- Investments have surged due to increased compliance.
New Delhi, Feb 28 (NationPress) Since the establishment of the Real Estate Regulatory Authority (RERA) in 2017, a total of 1.19 lakh projects encompassing 97.14 lakh units have been recorded across the leading 10 state RERAs, according to a report released on Friday.
The report from data analytics company PropEquity indicates that Maharashtra tops the list with 48,047 registered projects, representing 40 percent of the cumulative registrations in these states.
Tamil Nadu comes next with 19,987 projects, contributing 17 percent to the total, while Gujarat holds the third position with 16,265 projects, accounting for 14 percent.
Other states with notable registrations include Telangana, Madhya Pradesh, Andhra Pradesh, Karnataka, Uttar Pradesh, West Bengal, and Rajasthan.
In terms of the average number of housing units per project, Uttar Pradesh leads with 184 units per project, followed by Rajasthan at 156 units and Gujarat at 116 units.
The average number of units per project across the top 10 states is 81, as per the report.
This underscores how RERA has significantly influenced the regulation and organization of the real estate sector over the last eight years.
According to Samir Jasuja, Founder and CEO of PropEquity, "The implementation of RERA has led to substantial compliance improvements among real estate developers, fostering greater transparency within the sector."
This transformation has spurred a surge in investments from individual as well as both domestic and international institutional investors, thereby contributing to the growth narrative of not just India but also the real estate sector as a whole.
Among urban areas, Pune stands out with 12,346 projects recorded under RERA.
Thane follows with 8,858 projects, while Hyderabad ranks third with 7,180 projects.
The report offers a comprehensive overview of RERA registrations across 20 states since its inception.
Data indicates that 1.43 lakh projects have been recorded, encompassing a total of 1.11 crore units from January 2017 to January 2025.
Interestingly, project registrations under RERA experienced a remarkable increase of 145 percent between 2020 and 2022, reaching 25,281 projects, the report noted.
