131% rise in registration of new projects mainly from rural Madhya Pradesh

558 applications have been received for registration in the financial year 2021-2022, the highest since the establishment of RERA years back.

The number of registration of new projects of real estate in Madhya Pradesh has gone up considerably and it indicates that the sector is reviving up after the corona crisis.

As per official statement the work of registration in Madhya Pradesh Real Estate Regulatory Authority (RERA) is being done expeditiously. 558 applications have been received for registration in the financial year 2021-2022 highest since the establishment of RERA years back.

This is about 131 percent more than last year. Despite Covid-19, the maximum numbers of 418 registration applications have been approved in the financial year 2021-22 as compared to the last 4 years.

The secretary of the authority, Neeraj Dubey has informed that in the financial year 2021-22, 482 registration applications have been sanctioned. Out of these, 418 have been approved and 64 applications have been rejected or withdrawn for not being found under the provisions of the Act.

In the financial year 2020-21, 218 project registration applications were approved. Applications were accepted in Jhabua, Rajgarh, Narsinghpur, Vidisha, Barwani, Raisen, Shahdol, Burhanpur and Seoni districts.