MahaRERA Crosses 50,000 Project Milestone, Setting National Benchmark in Real Estate Regulation

A Journey of Transformation: MahaRERA’s Eight-Year Milestone

Eight years ago the Maharashtra Real Estate Regulatory Authority better known as MahaRERA set out on a mission to bring transparency accountability and efficiency to the state’s real estate sector under the Real Estate Regulation and Development Act 2016 Today MahaRERA stands tall as the only real estate regulator in India to have registered over 50000 projects a feat that not only marks a significant achievement for Maharashtra but also sets a national benchmark for regulatory excellence

Maharashtra’s Dominance in India’s Real Estate Landscape

Of the 144617 housing projects approved by RERA bodies across India almost 35 percent a staggering 50,162 projects are registered in Maharashtra This impressive figure far outpaces Tamil Nadu which holds second place with 27,609 projects and Gujarat with 15,322 The Mumbai Metropolitan Region MMR and Pune alone account for nearly half of Maharashtra’s registrations underscoring their status as the state’s real estate powerhouses

Regional Growth and Expanding Horizons

MahaRERA’s impact is visible across the state The Konkan region including MMR leads with 23,770 registered projects followed by the Pune region with 15,932 Other regions such as North Maharashtra Nagpur Chhatrapati Sambhajinagar and Amravati also show robust growth reflecting the regulator’s reach beyond traditional urban centers Notably MahaRERA’s jurisdiction extends to the union territories of Daman and Dadra Nagar Haveli where over 230 projects have been registered in the past eight years

The Vision and Impact of MahaRERA

Established in May 2017 MahaRERA’s vision has always been to foster trust professionalism and consumer protection in the real estate sector Chairman ,b>Manoj Saunik highlights this achievement as a testament to Maharashtra’s economic and social progress noting that the demand for housing is now expanding beyond Mumbai and Pune into every corner of the state

This is a moment of achievement for the industry friendly and ever progressing Maharashtra Until a few years ago the real estate sector was largely limited to the Mumbai Metropolitan Region or Pune region but now it is expanding all across the state says Saunik

Project Completion and Homebuyer Protection

While MahaRERA has registered over 50,000 projects only a little over 17,000 have been officially declared as completed The authority acknowledges that actual completions may be higher as many developers have not updated their project status on the MahaRERA portal Nevertheless MahaRERA’s regulatory framework ensures that homebuyers are legally empowered and that grievances remain minimal

Handling Complaints and Dispute Resolution

Over the past eight years MahaRERA has received more than 28,000 complaints Of these orders have been passed in 21,000 cases and 1235 disputes have been settled through conciliation This proactive approach to dispute resolution underscores MahaRERA’s commitment to protecting the interests of homebuyers and maintaining industry integrity

Looking Ahead MahaRERA’s Enduring Legacy

As Maharashtra continues to urbanize and new projects emerge across the state MahaRERA’s role as a regulator and protector of consumer interests grows ever more crucial The authority’s success story is not just about numbers it’s about building trust fostering growth and setting standards for the rest of India to follow