-Only 1,749 projects completed in 2022 due to Covid-19 impact
-Highest ever housing projects completed since MahaRERA’s establishment*
-Konkan division, which includes Mumbai region has the highest number of projects completed at 1,552, followed by Pune 1,372, Nashik at 500, Nagpur with 318, Sambhaji Nagar with 123, Amravati at 56 and Diu Daman with 6 projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has reported a significant progress in the completion of housing projects in 2023 after facing a setback in 2022 due to the Covid-19 pandemic. In 2023, a record-breaking 3,927 housing projects were successfully completed, showcasing a remarkable improvement from the previous year’s count of 1,749 completed projects.
For 3 years from 2019 to 2021, each year has seen over two thousand housing projects being completed across Maharashtra. There were a total of 2,232 projects completed in 2019; 2,573 in 2020 and 2,326 in 2021. In 2022, the real estate sector was hard hit by the impact of Covid-19 pandemic, due to which only 1,749 projects could be completed.
The Konkan region, which includes Mumbai, Mumbai Suburbs, Thane, Palghar, Raigad, Ratnagiri, Sindhudurg, etc. saw the highest number of project completions in the State at 1,552 projects.
This was followed closely by the Pune Division with 1,372 completed projects – these included projects in Satara, Kolhapur, Solapur and Sangli. Nashik Division that includes Nashik, Ahmednagar, Dhule, Jalgaon and Nandurbar saw 500 projects being completed. Nagpur Division comprising Nagpur, Chandrapur, Bhandara, Gadchiroli, Gondia and Wardha saw 318 completed projects. Sambhaji Nagar including – Sambhajinagar, Jalna, Beed, Nanded, Latur, Hingoli, Parbhani, saw 123 projects. Followed by Amravati Division including – Amravati, Akola, Buldana, Yavatmal and Washim with 56 completed projects. 6 projects were completed in Daman Division
In 2022, the real estate sector faced a setback due to the impact of Covid-19, resulting in only 1,749 completed projects. These 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 been instrumental in overseeing the completion of housing projects in the State. The year-wise breakdown of completed projects since 2017 is as follows:
Year wise Projects completion
2017: 404
2018: 1,595
2019: 2,232
2020: 2,573
2021: 2,326
2022: 1,749
2023: 3927
Also Read: Housing Sales Hit Fresh Peak in 2023, Top 7 Cities See 31% Yearly Growth
