Blitz Bureau
New Delhi, Feb 28 (IANS) Since the implementation of the Real Estate Regulatory Authority (RERA) in 2017, a total of 1.19 lakh projects comprising 97.14 lakh units have been registered across the top 10 state RERAs, a report showed on Friday.
According to a report by data analytics firm PropEquity, Maharashtra leads the list with 48,047 registered projects, accounting for 40 per cent of the total registrations in the top 10 states.
Tamil Nadu follows with 19,987 projects, contributing a 17 per cent share, while Gujarat ranks third with 16,265 projects, making up 14 per cent of the total.
Other states with a significant number of registrations include Telangana, Madhya Pradesh, Andhra Pradesh, Karnataka, Uttar Pradesh, West Bengal, and Rajasthan.
When it comes to the number of housing units per project, Uttar Pradesh tops the list with an average of 184 units per project, followed by Rajasthan at 156 units and Gujarat at 116 units.
Across the top 10 states, the average number of units per project stands at 81, the report added.
It highlights how RERA has played a key role in regulating and streamlining the real estate sector over the past eight years.
“Due to RERA, there has been a vast improvement in compliance by real estate developers as a result of which the sector has seen huge transparency,” Samir Jasuja, Founder and CEO, PropEquity said.
He added that this led to a rise in investment by individual investors, and both domestic and foreign institutional investors thereby further espousing not just India’s but also real estate sector’s growth story.
Among cities, Pune has emerged as the leader in project registrations, with 12,346 projects recorded under RERA.
Thane follows with 8,858 projects, while Hyderabad ranks third with 7,180 projects.
Mumbai, Chennai, Navi Mumbai, Ahmedabad, Nashik, Vadodara, and Kolkata also feature in the top 10 cities with the highest number of registered projects.
The report also provides an overall picture of RERA registrations across 20 states since its inception.
As per the data, 1.43 lakh projects have been registered, covering a total of 1.11 crore units between January 2017 and January 2025.
Interestingly, the number of project registrations under RERA witnessed a sharp rise of 145 per cent between 2020 and 2022, reaching 25,281 projects, said the report.
–IANS