1.19 Lakh Projects 97 Lakh Units Registered with RERAs PropEquity
New Delhi, March 1st, 2025: Since the operationalisation of Real Estate Regulatory Authority (RERA), 1.19 lakh projects, comprising 97.14 lakh units, have been registered with top 10 State RERAs between 2017-2024, said a report by NSE-listed data analytics firm PropEquity.
The top ten States with the highest number of projects registered with their respective RERAs are Maharashtra, Tamil Nadu, Gujarat, Telangana, Madhya Pradesh, Andhra Pradesh, Karnataka, Uttar Pradesh, West Bengal and Rajasthan.
Maharashtra with 48,047 registered projects accounts for 40% of the total registered projects in top 10 states. Tamil Nadu with 19987 projects accounts for 17% share while Gujarat with 16,265 projects accounts for 14% share.
Samir Jasuja, Founder and CEO, PropEquity said: “Due to RERA, there has been a vast improvement in compliance by real estate developers as a result of which the sector has seen huge transparency. This has led to a rise in investment by individual investors, and both domestic and foreign institutional investors thereby further espousing not just India’s but also real estate sector’s growth story.”
“The real estate market across 9 top Tier 1 cities are today valued at over Rs 5.5 lakh crore. Unlike the pre-RERA years, absorption every year, post RERA implementation, has been more than launches (except covid year CY 2020), which shows the maturity that this regulation has ushered amongst developers thereby laying a strong foundation for a $1 trillion real estate economy.”
“The government must look to align strong regulations and compliance with favourable tax policies for both developers and homebuyers in order to achieve this vision.”
The PropEquity report further stated that at 184 units, the average number of units per project is the highest in Uttar Pradesh, followed by Rajasthan at 156 units and Gujarat at 116 units.
The average number of units per projects in top 10 states stands at 81 units.
| Projects Registered with Top 10 State RERA | |||||
| States | Total Projects | Total Units | % share (projects) | % share (units) | Average number of unit per project |
| Maharashtra | 48047 | 3733518 | 40% | 38% | 78 |
| Tamil Nadu | 19987 | 1035946 | 17% | 11% | 52 |
| Gujarat | 16265 | 1882778 | 14% | 19% | 116 |
| Telangana | 9245 | 831161 | 8% | 9% | 90 |
| Madhya Pradesh | 5387 | 363542 | 5% | 4% | 67 |
| Andhra Pradesh | 5098 | 127008 | 4% | 1% | 25 |
| Karnataka | 4860 | 339787 | 4% | 3% | 70 |
| Uttar Pradesh | 3668 | 674871 | 3% | 7% | 184 |
| West Bengal | 3497 | 206105 | 3% | 2% | 59 |
| Rajasthan | 3334 | 519844 | 3% | 5% | 156 |
| Total | 119388 | 9714560 | 81 | ||
Amongst cities, the top 10 with highest number of registered projects are Pune with 12,346 projects, Thane with 8858 projects, Hyderabad with 7180 projects, Mumbai with 6923 projects, Chennai with 6426 projects, Navi Mumbai with 5468 projects, Ahmedabad with 5367 projects, Nashik with 3759 projects, Vadodara with 2903 projects and Kolkata with 2680 projects.
PropEquity has been tracking data from RERA across 20 States since inception which shows that 1.43 lakh projects have been registered comprising 1.11 crore units between January 2017- January 2025.
The number of projects registered with RERA grew by 145% to 25,281 projects between CY2020-2022. It, however, fell by 21% between 2022-2024.
The year 2020 witnessed the least number of project registrations.
Housing Sales in Top Tier-2 Cities Up 4%, Sales Value 20% Higher in 2024 PropEquity
New Delhi, February 12, 2025: Housing sales in India’s top 15 tier 2 cities rose by 4% to 1,78,771 units with sales value rising by 20% to Rs 1,52,552 crore in 2024, according to NSE-listed real estate data analytics firm PropEquity.
The housing sales stood at 1,71,903 units while sales value stood at Rs 1,27,505 crore in 2023.
Housing sales rose the most in Coimbatore at 36% and fell the most in Visakhapatnam at 21% in 2024 while Bhubaneswar recorded the highest growth in sales value at 47% while Nashik recorded 2% decline in sales value.
Samir Jasuja, Founder & CEO, PropEquity said, “The Budget announcements will give a boost to housing demand in tier 2 cities and create opportunities for employment. These include proposals for development of airports, promotion of GCCs, tourism, relaxation on second homes, and more importantly tax exemption on income up to Rs 12 lakhs. The continued focus on infrastructure development like metro rail, highways and expressways will augment the growth in all segments of the real estate sector.”
“Sales value have risen by 20% even as sales have increased by only 4% in 2024 points to a rapid increase in price of homes in these cities owing to factors like rise in cost of raw materials, speculative investments etc. which may impact the real estate market.”
| City Name | Units absorbed | Sales Value (Rs crore) | ||||
| 2023 | 2024 | Change | 2023 | 2024 | Change | |
| Ahmedabad | 54076 | 56274 | 4% | 42063 | 49421 | 17% |
| Surat | 20676 | 23718 | 15% | 15549 | 18808 | 21% |
| Vadodara | 19641 | 19030 | -3% | 10262 | 11290 | 10% |
| Gandhi Nagar | 13315 | 14364 | 8% | 11467 | 14153 | 23% |
| Nashik | 15010 | 13492 | -10% | 6498 | 6380 | -2% |
| Jaipur | 10187 | 10695 | 5% | 6019 | 8388 | 39% |
| Nagpur | 7883 | 8090 | 3% | 4237 | 5162 | 22% |
| Bhubaneswar | 5566 | 6822 | 23% | 5927 | 8738 | 47% |
| Mohali | 4462 | 4398 | -1% | 5282 | 6238 | 18% |
| Visakhapatnam | 5361 | 4258 | -21% | 4858 | 4798 | -1% |
| Lucknow | 3771 | 3796 | 1% | 4283 | 4500 | 5% |
| Coimbatore | 2732 | 3725 | 36% | 2610 | 3698 | 42% |
| Goa | 3430 | 3586 | 5% | 4339 | 5726 | 32% |
| Bhopal | 3238 | 3565 | 10% | 1703 | 2344 | 38% |
| Trivandrum | 2555 | 2958 | 16% | 2408 | 2908 | 21% |
| Total | 171903 | 178771 | 4% | 127505 | 152552 | 20% |
Region-wise housing sales trend
1. Western India – 7 cities:
According to the report, the seven cities in western India saw sales of 1,38,554 units in 2024 as compared to 1,34,031 units in 2023, up 3.4%. The sales value grew by 18% to Rs 1,10,939 crore in 2024.
Housing sales was led by Surat with 15% rise, followed by Gandhi Nagar 8%, Goa 5%, Ahmedabad 4%, Nagpur 3%. Housing sales fell in Nashik by 10% and Vadodara by 3%.
Only Nashik witnessed a decline in sales value at 2%.
2. Southern India – 3 cities:
The three cities in southern India saw sales of 10941 units in 2024 as compared to 10648 units in 2023, up 2.75%. The sales value grew by 15% to Rs 11,404 crore.
Housing sales was led by Coimbatore with 36% rise followed by Trivandrum 16%. Sales declined in Visakhapatnam by 21%.
Only Visakhapatnam witnessed a decline in sales value at 1%.
3. Northern India – 3 cities:
Sales in the three cities of Northern India stood at 18889 units in 2024 as compared to 18420 units in 2023, up 2.5%. Sales value grew by 23% to Rs 19,127 crore in 2024.
Housing sales rose by 5% in Jaipur and 1% in Lucknow while it fell by 1% in Mohali.
Sales value grew by 39% in Jaipur, 5% in Lucknow and 18% in Mohali.
4. Eastern and Central India – 2 cities:
Housing sales in the two eastern and central Indian cities stood at 10387 units in 2024 as compared to 8804 units in 2023, up 18%. Sales value grew by 45% to Rs 11,082 crore in 2024.
Housing sales rose 23% in Bhubaneswar and 10% in Bhopal.
Sales value grew by 38% in Bhopal and 47% in Bhubaneswar.