Mumbai: Maharashtra, Gujarat, Karnataka, Madhya Pradesh and Uttar Pradesh are the leading states when it comes to real estate project registration and Maharashtra tops the list, with nearly 22,455 registrations, setting the benchmark for implementation of the Real Estate Regulatory Authority Act (RERA), according to Arun Chitnis, head of Anarock Property Consultants.
As on October 5, a total of 45,307 projects were registered across the country, as compared to September 2018 when only 32,306 projects were registered, which translates to a 40 per cent nationwide growth in project registrations under RERA, according to the data compiled by the consultancy firm. Moreover, these five states account for 81 per cent of the overall share, with nearly 36,576 projects registered.
Chitnis said, "Since its inception MahaRERA has been consistent in bridging the trust gap between developers and homebuyers. With several steps taken to regulate the real estate sector, Maharashtra continues to do justice."
Apart from real estate projects, agent registrations have also increased in this one-year period. Data trends suggest 54 per cent growth in agent registrations under RERA across states and Union territories. In Maharashtra, 21,429 agents are registered under RERA.
Besides this, across states and Union territories, RERA has helped dispose of 27,970 cases in the country till date. The highest number of cases - 11,596 - were resolved in Uttar Pradesh, which accounts for a 41 per cent overall share. Maharashtra comes next, having disposed of 5,817 cases, while Haryana and Madhya Pradesh follow, with 2,480 cases and 2,465 cases respectively. In Gujarat, 1,259 cases have been resolved while in Karnataka and Odisha, 1,513 and 727 have been settled.