Since the operationalisation of the Real Estate Regulatory Authority (RERA) in 2017, 1.19 lakh projects, comprising 97.14 lakh units, have been registered with top 10 State RERAs between 2017-2024, said a report by NSE-listed data analytics firm PropEquity.
The average number of units per project in top 10 states stands at 81 units, the report said.
Advertisement
The top ten states with the highest number of projects registered with their respective RERAs are Maharashtra, Tamil Nadu, Gujarat, Telangana, Madhya Pradesh, Andhra Pradesh, Karnataka, Uttar Pradesh, West Bengal, and Rajasthan.
Maharashtra with 48,047 registered projects accounts for 40% of the total registered projects in top 10 states. Tamil Nadu with 19987 projects accounts for 17% share while Gujarat with 16,265 projects accounts for 14% share.
The PropEquity report further stated that at 184 units, the average number of units per project is the highest in Uttar Pradesh, followed by Rajasthan at 156 units and Gujarat at 116 units.
Among cities, the top 10 with the highest number of registered projects are Pune with 12,346 projects, Thane with 8,858 projects, Hyderabad with 7,180 projects, Mumbai with 6,923 projects, Chennai with 6,426 projects, Navi Mumbai with 5,468 projects, Ahmedabad with 5,367 projects, Nashik with 3,759 projects, Vadodara with 2,903 projects, and Kolkata with 2,680 projects.
The number of projects registered with RERA grew by 145% to 25,281 projects between CY2020 and 2022. It, however, fell by 21% between 2022 and 2024.
Notably, the year 2020 witnessed the least number of project registrations, due to COVID pandemic.
