Gujarat Registers Construction Projects Worth Rs 3.17L Cr In 4 Years

Gujarat has registered construction projects worth a total market value of Rs 3.17 lakh crore in the last four years, translating into 6,305 projects in residential, commercial and plotted development categories. 

Data compiled by the Confederation of Real Estate Developers' Associations of India (Credai) also states that of the construction commitments of 91 crore sq feet over the last four years, 2021-22 saw the maximum, with 26 crore sq feet of development projects getting RERA registered.

Top five districts - Ahmedabad, Gandhinagar, Rajkot, Surat and Vadodara - have 82% share in total projects in RERA and a 93% share in the market value of projects. Ahmedabad is the biggest contributor to the total Gujarat volume with a share of 29% in the number of projects and 42% in project value in the last four financial years.

The residential segment has seen the highest RERA registrations. Realty experts also attribute the rise in project cost and market value to increased construction cost over the last three years.