Maharashtra tops with project and agent registrations till July
July 22, 2020
Mumbai: Three years since its implementation, state RERA authorities across the country have disposed of 48,556 cases till July, according to ministry of housing and urban affairs data. Nearly 57% cases (approximately 27,581) were resolved in the last one year alone.
Maharashtra is the frontrunner with maximum project and agent registrations. As of July 4, Maharashtra saw registration of 25,604 projects and 23,999 agents.
Uttar Pradesh takes lead with 18,509 cases disposed of, against only 5,989 a year back. Haryana was a distant second with 9,919 cases disposed of, as against 3,123 in the corresponding period of 2019. MahaRERA has so far disposed of 7,883 cases.
ANAROCK Property Consultants Chairman Anuj Puri said, "One of RERA's primary functions is addressing real estate consumers' grievances. In the three years since RERA implementation, authorities of various states and union territories resolved over 48,556 consumer complaints. Project and agent registrations also increased perceptibly in a year (nearly 24% and 20% respectively)."
"The 24% growth in project registrations under RERA in a year pertains to 43,208 projects by the end of July 2019 to 53,364 projects as of date. States with most project registrations include Maharashtra, Gujarat, Karnataka, MP, UP, Telangana and Tamil Nadu. Cumulatively, these seven states account for a 85% share, with 45,278 registered projects. Maharashtra tops the list with 25,604 project registrations," said ANAROCK's report recently.
UP has the least annual growth of 5% in project registrations. In July 2019, 2,676 projects were registered, while currently it is 2,818. "Evidently, developers in the state were more focused on project completion than on new launches," it said. Among top states, Telangana saw highest yearly growth of 79% in project registrations.
Source: The Times of India, Mumbai
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