In a remarkable turnaround from the challenges posed by the Covid-19 pandemic in 2022, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced an unprecedented accomplishment in the completion of housing projects. A record-breaking 3,927 housing projects were successfully completed in 2023, marking a substantial improvement from the previous year’s count of 1,749 completed projects.
The Konkan region, encompassing Mumbai and its surrounding areas, led the State with the highest number of completed projects at 1,552. Following closely was the Pune Division, which includes Satara, Kolhapur, Solapur, and Sangli, with an impressive count of 1,372 completed projects. The Nashik Division, covering Nashik, Ahmednagar, Dhule, Jalgaon, and Nandurbar, witnessed the completion of 500 projects. The Nagpur Division, comprising Nagpur, Chandrapur, Bhandara, Gadchiroli, Gondia, and Wardha, contributed 318 completed projects. Sambhaji Nagar, including Sambhajinagar, Jalna, Beed, Nanded, Latur, Hingoli, Parbhani, reported the completion of 123 projects. Additionally, the Amravati Division, covering Amravati, Akola, Buldana, Yavatmal, and Washim, recorded 56 completed projects. Furthermore, 6 projects were successfully completed in the Daman Division.
In contrast, the real estate sector faced a setback in 2022, with only 1,749 projects completed. This included 780 projects in the Konkan division, followed by 583 projects in Pune, 210 in Nashik, 74 in Nagpur, 73 in Sambhaji Nagar, 26 in Amravati, and 3 projects in Dadra Nagar Haveli.
Since its establishment in 2017, MahaRERA has played a pivotal role in overseeing the completion of housing projects in the State. The year-wise breakdown of completed projects since 2017 reflects the resilience and recovery of the real estate sector:
YEAR: PROJECTS
2017: 404
2018: 1,595
2019: 2,232
2020: 2,573
2021: 2,326
2022: 1,749
2023: 3,927
