On its seventh anniversary, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has achieved a significant milestone by registering over 50,000 housing projects, making Maharashtra the only state in India to reach this achievement. The state now accounts for more than 35% of all residential projects registered under RERA across the country.
According to data from the Ministry of Housing and Urban Affairs, India has a total of 144,617 housing projects registered with RERA bodies. Maharashtra leads the pack with 50,162 projects, followed by Tamil Nadu with 27,609 and Gujarat with 15,322.
MahaRERA’s Chairman, Manoj Saunik, highlighted the shift in Maharashtra’s real estate landscape. He noted, “Historically, the market was concentrated in the Mumbai Metropolitan Region (MMR) and Pune. Today, we are witnessing an expansion across the state, reflecting significant socio-economic development.”
The registered projects in Maharashtra are spread across various regions, with Pune leading the way with 12,788 projects. Thane follows with 6,746, and Mumbai suburbs have 5,907. Raigad has 5,360 projects, while the Konkan region, which includes MMR, boasts the highest concentration with 23,770 projects. Other regions such as North Maharashtra, Nagpur, Chhatrapati Sambhajinagar, and Amravati also contribute to the total.
MahaRERA was established in May 2017 under the Real Estate (Regulation and Development) Act, 2016, becoming the first regulatory authority of its kind in India. It has played a crucial role in enhancing transparency, accountability, and efficiency within Maharashtra’s real estate sector.
Meanwhile, the Capital Region Development Authority (CRDA) in Andhra Pradesh has approved tenders worth Rs 17.32 billion to develop key infrastructure in Amaravati’s core capital area, marking continued progress in the region’s development.
Source: Constructionworld.in
