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UP RERA approves 17 real estate projects in 8 districts of UP

Lucknow, Nov 3 (UNI) The real estate sector in Uttar Pradesh is set to receive a major boost with the approval of 17 new real estate projects across eight districts of the state. The Uttar Pradesh Real Estate Regulatory Authority has approved these projects, which involve an estimated investment of Rs 4,844.43 crore and will lead to the development of 5,726 residential and commercial units.
These projects will expand residential and commercial facilities in different cities of the state. The construction activities are also expected to create new employment opportunities and support local economic growth.
The approvals were granted during the 217th, 218th and 219th Authority Meetings held at the UP RERA headquarters. The meetings were chaired by UP RERA Chairman Sanjay Bhoosreddy. After detailed discussions and examination of the proposals related to various projects, the Authority approved them.
UP RERA stated that the approved projects will be developed in accordance with the provisions of the RERA Act, with a focus on transparency and timely completion. This will help protect the interests of homebuyers and further strengthen their trust in the real estate sector.
Lucknow has emerged as the leading district in terms of the number of proposed units as well as investment. A total of nine projects have been approved in the district, including six residential, one mixed-use and two commercial projects. These projects involve an estimated investment of around Rs 2,203.27 crore and will result in the development of 3,031 units.
One residential project has been approved in Moradabad. The project involves an estimated investment of Rs 1.03 crore and will provide 12 residential units.
Two residential projects have been approved in Ghaziabad with an estimated investment of Rs 943.28 crore. A total of 1,016 units are proposed to be developed under these projects.
One mixed-use project has been approved in Gautam Buddh Nagar. The project involves an estimated investment of around Rs 940.43 crore and will include a total of 456 units.
One residential project in Meerut has been approved with an estimated investment of ₹194.28 crore. A total of 313 residential units will be developed under this project.
One residential project worth an estimated ₹10.87 crore has been approved in Firozabad. The project will result in the development of 48 residential units.
One residential project involving an estimated investment of Rs 524.66 crore has been approved in Kanpur. A total of 597 residential units are proposed to be developed under this project. An estimated Rs 26.61 crore has been approved in Ayodhya. The project will lead to the development of 159 residential units, further expanding the city's residential infrastructure.

The proposed investment of Rs 4,844.43 crore in these 17 projects will increase construction activities across the state. It is also expected to benefit related sectors such as construction materials, transportation, engineering and other businesses. The development of these projects will generate direct and indirect employment opportunities, boost local economic activities and contribute to the overall growth of the state's economy.

Chairman Bhoosreddy said that the Authority is continuously working to promote transparency, accountability and timely development in the real estate sector of Uttar Pradesh.
He said that timely approval of project proposals and effective monitoring of their development are helping create a better environment for both homebuyers and promoters.
He further stated that UP RERA will continue to ensure effective implementation of the provisions of the RERA Act. The Authority remains committed to protecting consumer interests and promoting balanced, planned and reliable growth of the real estate sector across the state.
UNI MBD RSA
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