Nagpur has emerged as the city with the most RERA-compliant homes listed for sale in the current market, according to the latest research by eXp. In contrast, Delhi ranks lowest in terms of RERA compliance. The research analysed property listings across 15 major cities, revealing the proportion of homes marked as RERA compliant.
The Indian real estate market has changed dramatically since the introduction of the Real Estate (Regulation and Development) Act (RERA) in 2016, as it has provided a much-needed regulatory framework to help protect homebuyers and allow them to make more informed choices when purchasing. Its introduction has helped improve financial transparency, clear information disclosure, grievance redressal, and the timely delivery of housing stock to the market, amongst other things.
However, India shows that the number of homes listed for sale that are considered RERA-compliant differs dramatically across India's major cities, as per the report.
Nagpur is home to the highest proportion, where 38 per cent of all homes currently listed for sale are considered RERA compliant. Also, Surat ranks highly in this respect, with 36 per cent of all properties meeting RERA compliance, whilst Indore completes the top three at 29 per cent.
Across Pune (26 per cent), Hyderabad (24 per cent), Ahmedabad (22 per cent) and Navi Mumbai (22 per cent), more than one in five homes listed for sale also boast RERA compliance.
However, at the opposite end of the spectrum, just 0.6 per cent of homes listed for sale across Delhi are considered RERA compliant.
