RERA Registers Over 97 Lakh Real Estate Units in India's Top 10 States in 8 Years
India's top 10 states have seen a significant surge in the registration of real estate units under RERA, with over 97 lakh units registered in just 8 years. Pune and Thane lead the list of cities with the highest number of registered projects.
ReraReal EstateIndiaProperty RegistrationMarket RegulationReal Estate PuneFeb 28, 2025
According to a recent report by PropEquity, over 97 lakh real estate units have been registered under RERA in the top 10 states of India over the past 8 years.
This landmark achievement underscores the commitment to transparency, accountability, and consumer protection in the real estate market.
The top 10 states leading the charge are Maharashtra, Uttar Pradesh, Karnataka, Haryana, Rajasthan, Tamil Nadu, Gujarat, Andhra Pradesh, Telangana, and Madhya Pradesh.
These states collectively account for a substantial portion of the registered units, reflecting the robust growth and regulatory compliance in these regions.
Among cities, Pune stands out with 12,346 registered projects, followed closely by Thane with 8,858 projects.
Other notable cities include Mumbai, Bengaluru, and Ahmedabad, each contributing significantly to the overall growth of the real estate sector under the RERA framework.
The Real Estate (Regulation and Development) Act, 2016, was introduced to bring much-needed transparency and accountability to the real estate market.
It mandates the registration of real estate projects with the RERA authority, ensuring that developers adhere to strict guidelines and timelines.
This has not only protected the interests of homebuyers but also fostered a more stable and predictable market environment.
The impact of RERA is evident in the increasing number of completed projects and the reduction in project delays.
Developers are now required to deposit 70% of the project funds in a separate escrow account, ensuring that the funds are used exclusively for the project.
This has significantly reduced the risk of project abandonment and financial irregularities.
Moreover, the digital transformation of the real estate sector has been accelerated by RERA.
Online registration, project tracking, and grievance redressal mechanisms have made it easier for homebuyers to navigate the market and seek assistance when needed.
This has not only improved the buying experience but also enhanced the overall trust in the sector.
The success of RERA in these top 10 states serves as a model for other states and Union Territories, encouraging them to strengthen their regulatory frameworks and improve market conditions.
The Indian real estate sector is poised for further growth, driven by the positive outcomes of RERA and the increasing demand for housing and commercial properties.
In conclusion, the registration of over 97 lakh real estate units under RERA in India's top 10 states over the past 8 years is a testament to the effectiveness of the regulatory framework.
It has not only transformed the real estate market but also set a high standard for consumer protection and market stability.
As the sector continues to evolve, the benefits of RERA will be felt by developers, homebuyers, and the economy as a whole.
Frequently Asked Questions
What is RERA?
RERA stands for the Real Estate (Regulation and Development) Act, 2016. It is a regulatory framework introduced to bring transparency, accountability, and consumer protection to the real estate market in India.
Which states are the top 10 in terms of RERA registrations?
The top 10 states in terms of RERA registrations are Maharashtra, Uttar Pradesh, Karnataka, Haryana, Rajasthan, Tamil Nadu, Gujarat, Andhra Pradesh, Telangana, and Madhya Pradesh.
Which cities have the highest number of registered projects under RERA?
Pune leads with 12,346 registered projects, followed by Thane with 8,858 projects. Other notable cities include Mumbai, Bengaluru, and Ahmedabad.
How does RERA benefit homebuyers?
RERA benefits homebuyers by ensuring transparency, accountability, and protection of their interests. It mandates developers to deposit 70% of project funds in an escrow account and adhere to strict timelines, reducing the risk of project delays and financial irregularities.
What are the key features of RERA?
Key features of RERA include mandatory registration of real estate projects, the requirement for developers to deposit 70% of project funds in an escrow account, and the establishment of online registration, project tracking, and grievance redressal mechanisms.
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