MahaRERA crosses 50,000 housing project registrations, tops national list

Maharashtra has emerged as a leader in real estate regulation in India, with over 50,000 registered housing projects under the Maharashtra Real Estate Regulatory Authority (MahaRERA), a milestone unmatched by any other state. This accounts for approximately 35% of all Real Estate Regulatory Authority (RERA)-registered projects nationwide. The state's real estate sector has seen significant expansion, with the highest concentration of registered projects in the Konkan region, including Mumbai, followed by Pune. This growth reflects the state's economic development and expanding real estate market. Tamil Nadu ranks second with 27,609 registered projects, and Gujarat follows with 15,322. These three states are the only ones in the country with over 10,000 registered housing developments. Chairman of MahaRERA, Mr. Manoj Saunik, highlighted that the consistent increase in housing demand across Maharashtra indicates the state's social and economic progress. MahaRERA was established in 2017, shortly after the Real Estate (Regulation and Development) Act 2016 came into effect, intending to minimise homebuyer grievances.
Within Maharashtra, the Konkan region, which includes the Mumbai Metropolitan Region, leads with 23,770 registered housing projects. Pune region follows with 15,932 projects, with Pune district alone accounting for 12,788 projects. Thane has 6,746 projects, Mumbai suburbs have 5,907, and Raigad has 5,360. Other regions include North Maharashtra with 4,621 projects, Nagpur region with 2,764, Chhatrapati Sambhajinagar region with 1,886, and Amravati region with 957. Smaller territories like Dadra Nagar Haveli and Daman have 180 and 52 projects, respectively. This regional breakdown underscores Maharashtra's widespread development and regulatory oversight of the real estate sector.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.