Gujarat's Real Estate Sector Sees Lowest Project Registrations in FY2026 Post-Covid
Ahmedabad: Gujarat's real estate sector witnessed a significant drop in new project registrations, falling to 1,610 in FY2026 — the lowest since the pandemic-hit FY2021, according to data from GujRERA. Industry experts attribute this decline to market saturation from recent supply and a more cautious approach by developers.
Industry experts say this downturn has occurred after nearly four years of strong post-pandemic demand. The slowdown in fresh launches reflects both market saturation from recent supply and a more cautious stance by developers. Ahmedabad accounted for 506 of these new registrations.
The state's real estate market had experienced robust post-pandemic demand, particularly in urban centers where homebuyers upgraded their lifestyles. Since FY2021, annual project registrations have consistently remained above 1,700. However, FY2026 saw a drop of around 211 projects compared to the previous year.
Tejas Joshi, president of CREDAI Gujarat, commented, 'Over the past four years, a high number of projects have been launched, many of which are still under construction, given that the average completion cycle is around three years. Developers are now exercising caution in launching new projects. However, with Ahmedabad set to host the Commonwealth Games 2030, we expect FY2027 to see an uptick in new launches.'
Across Gujarat, residential projects led new registrations with 663, followed by mixed-use developments at 518, commercial projects at 233, and plotted developments at 196. Ahmedabad emerged as the state's largest real estate hub with 506 projects, followed by Surat (328) and Vadodara (209). Gandhinagar recorded 169 projects, Rajkot (109), Bhavnagar (87), Jamnagar (25), and Junagadh (19), while other locations together accounted for 158 projects.
In the residential segment, Ahmedabad led with 223 projects, followed by Vadodara (123) and Surat (95). Gandhinagar recorded 73 residential projects, while Rajkot saw 42. Commercial project launches were strongest in Ahmedabad (68) and Surat (52), with Rajkot registering 27 and Jamnagar 17 projects.
Mixed-use developments gained traction in Ahmedabad (207) and Gandhinagar (79), with Vadodara and Surat contributing 61 and 57 projects respectively. Surat dominated plotted developments with 124 projects, far ahead of Bhavnagar (35) and Ahmedabad (8). The data indicates that Ahmedabad continues to be Gujarat's most diversified real estate market.
