Maharashtra has firmly cemented its position as the frontrunner in India’s real estate sector, achieving a remarkable feat by becoming the first and only state to surpass the 50,000 mark in projects registered under the Real Estate (Regulation and Development) Act, 2016 (RERA). This significant milestone underscores the state’s robust real estate activity and the effectiveness of its regulatory framework.
Unmatched Leadership in RERA Registrations
According to data released by the Ministry of Housing and Urban Affairs, Maharashtra boasts an impressive 50,162 RERA-registered projects. This figure accounts for a substantial 35% of the total 144,617 projects approved by RERA authorities across the entire nation, as highlighted by MahaRERA media advisor Ram Dontonde.
Following Maharashtra’s commanding lead, Tamil Nadu holds the second position with 27,609 registered projects, while Gujarat ranks third with 15,322. Notably, these three states are the only ones in India to have crossed the five-figure mark in RERA registrations, further emphasizing Maharashtra’s dominant presence.
Pioneering Regulation Driving Transparency and Growth
MahaRERA’s establishment in 2017, following the enactment of the Real Estate (Regulation and Development) Act, 2016, marked a pivotal moment for the state’s real estate landscape. Being among the first states to implement a functional real estate regulator, Maharashtra has significantly enhanced transparency, bolstered consumer protection, and fostered greater accountability within the sector over the past eight years.
Regional Hotspots Fueling Maharashtra’s Real Estate Boom
An analysis of region-wise data reveals the Konkan region, encompassing the Mumbai Metropolitan Region (MMR), as the leader with a substantial 23,770 registered projects. The Pune region follows closely with 15,932 projects, with Pune district alone accounting for 12,788. Other prominent regions contributing to this impressive tally include Thane (6,746), Mumbai suburbs (5,907), Raigad (5,360), and Palghar (2,899).
While these urbanized regions lead the way, other parts of Maharashtra are also witnessing real estate development. North Maharashtra accounts for 4,621 projects, Nagpur has 2,764, Chhatrapati Sambhajinagar (formerly Aurangabad) has 1,886, and Amravati has 957. In contrast, districts with slower urbanization, such as Gadchiroli (10), Gondia (3), and Hingoli (7), show comparatively lower numbers of registered projects.
A Testament to Maharashtra’s Progressive Real Estate Ecosystem
MahaRERA chairman Manoj Saunik hailed this achievement as a landmark in the evolution of Maharashtra’s real estate sector. “This is a moment of achievement for the ever-progressing and industry-friendly Maharashtra. The real estate sector has now spread across the state, reflecting growing housing demand and economic development,” he stated.
Furthermore, Saunik emphasized the effectiveness of MahaRERA’s framework in minimizing grievances from homebuyers. “We aim to empower buyers while maintaining builder accountability. Our grievance redressal system is proactive, resulting in near-negligible complaints,” he added.
Maharashtra’s remarkable achievement of crossing 50,000 RERA-registered projects not only underscores its leadership in the Indian real estate market but also highlights the positive impact of a robust regulatory environment in fostering growth, transparency, and consumer confidence. This milestone serves as a testament to the state’s progressive approach and its commitment to nurturing a thriving and accountable real estate ecosystem.
