MahaRERA update: Maharashtra regulator surpasses 50,000 project registrations in 8 years

The MahaRERA is the only real estate regulatory body in India that has registered over 50,000 real estate projects. Of the total, around 50% of the projects are registered in Mumbai Metropolitan Region and Pune alone, official data reveals.

Tamil Nadu stands second with 27,609 and Gujarat, third, with 15,322 residential projects.

Almost one third of the country’s housing projects (around 35%) are registered in Maharashtra, the regulator said.

According to Ministry of Housing and Urban Affairs data shared by MahaRERA, a total of 1,44,617 housing projects have been approved by all the RERA bodies in the nation.

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When was MahaRERA formed?

MahaRERA came into existence in May 2017 under the Real Estate Regulatory Act, 2016. The purpose of the RERA was to regulate the real estate sector including real estate developers and consultants.

According to the data, currently, a total of 50,162 housing projects are registered with MahaRERA.

Of the total 50,162 projects in Maharashtra, 12,788 housing projects are alone in Pune district, followed by 6,746 in Thane district, 5,907 in Mumbai suburbs and 5,360 in Raigad district, the data reveals.

Konkan region, which includes the Mumbai Metropolitan Region (MMR), has the highest number of residential projects at 23,770. This is followed by 15,932 in the Pune region, 4,621 in North Maharashtra, 2,764 in Nagpur area, 1,886 in Chhatrapati Sambhajinagar region and 957 in Amravati region, MahaRERA said in its statement.

The MahaRERA also has jurisdiction over two union territories including Daman and Dadra Nagar Haveli where over 230 projects have been registered in the last eight years.

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“This is a moment of achievement for the industry-friendly and ever-progressing Maharashtra. Until a few years ago, the real estate sector, which was largely limited to the Mumbai Metropolitan Region or Pune region, but now it is expanding all across the state,” said Manoj Saunik, Chairman of MahaRERA.

“The consistently increase in the demand for houses across Maharashtra is an indicator of state’s social and economic development. While legally empowering homebuyers, the MahaRERA also ensures that the grievances are equal to negligible. MahaRERA strives to ensure homebuyers do not have any grievances,” Saunik added.

Complaints and completion of real estate projects

While over 50,000 projects have been registered by MahaRERA over the last eight years, the completion stands at mere little over 17,000 projects.

The MahaRERA maintains that actual completion could be more considering the data available with them is basis completion declaration made by the developer.

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While many projects have been completed and possession has been given, however, the developer has not declared the same with MahaRERA, officials said.

Meanwhile, MahaRERA has got over 28,000 complaints in the past eight years of which orders have been passed for 21,000 complaints. The authority has also resolved conciliations for 1,235 cases, the data revealed.