Maharashtra has emerged as the frontrunner in real estate project registrations under the Real Estate Regulatory Authority (RERA), accounting for 40% of the total projects registered across the top 10 states in the past eight years, according to a report by data analytics firm PropEquity, as published by Financial Express.
Since RERA’s implementation in 2017, 1.19 lakh projects comprising 97.14 lakh units have been registered across the top 10 states. Maharashtra leads with 48,047 registered projects, followed by Tamil Nadu with 19,987 projects, contributing 17% of the total. Gujarat ranks third with 16,265 projects, making up 14% of the share.
The top 10 states with the highest number of registered projects include Maharashtra, Tamil Nadu, Gujarat, Telangana, Madhya Pradesh, Andhra Pradesh, Karnataka, Uttar Pradesh, West Bengal, and Rajasthan.
RERA Project Registrations by State
| State | Total Projects | Total Units | % Share (Projects) | % Share (Units) | Average Units Per Project |
|---|---|---|---|---|---|
| Maharashtra | 48,047 | 3,733,518 | 40% | 38% | 78 |
| Tamil Nadu | 19,987 | 1,035,946 | 17% | 11% | 52 |
| Gujarat | 16,265 | 1,882,778 | 14% | 19% | 116 |
| Telangana | 9,245 | 831,161 | 8% | 9% | 90 |
| Madhya Pradesh | 5,387 | 363,542 | 5% | 4% | 67 |
| Andhra Pradesh | 5,098 | 127,008 | 4% | 1% | 25 |
| Karnataka | 4,860 | 339,787 | 4% | 4% | 70 |
| Uttar Pradesh | 3,668 | 674,871 | 3% | 7% | 184 |
| West Bengal | 3,497 | 206,105 | 3% | 2% | 59 |
| Rajasthan | 3,334 | 519,844 | 3% | 5% | 156 |
| Total | 1,19,388 | 9,714,560 | 81 |
Samir Jasuja, founder and CEO of PropEquity, highlighted RERA’s role in enhancing compliance among developers, leading to increased transparency in the sector. He noted that the improved regulatory framework has driven investments from individual buyers as well as domestic and foreign institutional investors, contributing to India’s real estate growth.
“The real estate market across nine major Tier 1 cities is now valued at over Rs 5.5 lakh crore. Since RERA’s implementation, annual absorption has consistently outpaced new project launches, except during the COVID-19 pandemic in 2020. This indicates a more mature and stable real estate sector,” Jasuja said.
He emphasized the need for the government to align strong regulatory measures with favorable tax policies for developers and homebuyers to achieve a $1 trillion real estate economy.
Among cities, Pune has the highest number of registered projects at 12,346, followed by Thane (8,858), Hyderabad (7,180), Mumbai (6,923), and Chennai (6,426). Other leading cities include Navi Mumbai (5,468), Ahmedabad (5,367), Nashik (3,759), Vadodara (2,903), and Kolkata (2,680).
PropEquity, which tracks RERA data across 20 states, reported that a total of 1.43 lakh projects comprising 1.11 crore units have been registered between January 2017 and January 2025. The number of projects registered under RERA surged by 145% to 25,281 between 2020 and 2022. However, registrations declined by 21% between 2022 and 2024.
The lowest number of project registrations was recorded in 2020, reflecting the impact of the pandemic on the real estate sector.
As regulatory measures continue to shape the sector, stakeholders are calling for policy refinements to further enhance transparency, compliance, and investment in India’s growing real estate market.
Additionally, the report mentioned that RERA has significantly contributed to the real estate sector’s growth story by instilling confidence among investors. The absorption of real estate units post-RERA, except in the COVID-19-affected year of 2020, has consistently surpassed new launches, demonstrating the maturity the regulation has brought to the industry.