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
Chennai: The top 10 states have registered 1.19 lakh projects with over 97 lakh units have been registered under Real Estate Regulatory Authority (RERA) since 2017.
Since the operationalisation of RERA, 1.19 lakh projects, comprising 97.14 lakh units, have been registered with top 10 states between 2017 and 2024, according to PropEquity. Across 20 states around 1.43 lakh projects have been registered.
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 per cent share while Gujarat with 16,265 projects accounts for 14 per cent share.
Amongst cities, the top 10 with highest number of registered projects are Pune with 12,346 projects, Thane with 8858 projects, Hyderabad with 7180 projects, Mumbai with 6923 projects, Chennai with 6426 projects, and Navi Mumbai with 5468 projects.
The number of projects registered with RERA grew by 145 per cent between CY 2020-2022. It, however, fell by 21 per cent between 2022- 2024.
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. The average number of units per project in top 10 states stands at 81 units.
The real estate market across 9 top Tier 1 cities is valued at over Rs 5.5 lakh crore. RERA has led to a rise in investment by individual investors, and both domestic and foreign institutional investors thereby espousing the real estate sector’s growth story, said Samir Jasuja, Founder and CEO, PropEquity said.
