The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 17 real estate projects across eight districts, involving a proposed investment of ₹ 4,844.43 crore. The projects are expected to add 5,726 residential and commercial units across the state.
Lucknow emerged as the largest contributor in terms of both investment and the number of proposed units. Nine projects have been approved in the district, comprising six residential, one mixed-use and two commercial developments. The approvals are expected to accelerate construction activity across the state and generate direct and indirect employment opportunities. The approvals were granted during the Authority’s 217th, 218th and 219th meetings held at its headquarters under the chairmanship of UP RERA Chairman Sanjay Bhoosreddy. The proposals were examined and discussed before being cleared. Lucknow: Nine projects, including six residential, one mixed-use and two commercial developments, have been approved. He added that timely approvals and effective monitoring of project development were helping create a more conducive environment for both homebuyers and developers. The authority would continue to ensure the effective implementation of the RERA Act , protect consumer interests and promote balanced and planned growth of the sector across Uttar Pradesh.
Together, these projects involve an estimated investment of ₹ 2,203.27 crore and will add 3,031 units. They involve an estimated investment of ₹ 2,203.27 crore and will add 3,031 units. Ghaziabad: Two residential projects involving an investment of ₹ 943.28 crore have been approved. They will collectively comprise 1,016 units. Gautam Buddh Nagar: One mixed-use project involving an estimated investment of ₹ 940.43 crore has been approved. It will comprise 456 units. Kanpur: One residential project worth ₹ 524.66 crore has been approved, comprising 597 units. Meerut: One residential project involving an investment of ₹ 194.28 crore has been approved. It will add 313 units. Ayodhya: One residential project worth ₹ 26.61 crore has been approved, comprising 159 units. Firozabad: One residential project involving an estimated investment of ₹ 10.87 crore has been approved. It will add 48 units. It will comprise 12 residential units.
They are also likely to benefit allied sectors, including construction materials, transportation, engineering and other businesses, UP RERA said in a statement. The approved projects will be developed in accordance with the provisions of the RERA Act, with an emphasis on transparency, accountability and timely completion to safeguard homebuyers’ interests, according to UP RERA. UP RERA Chairman Sanjay Bhoosreddy said the authority was working to promote transparency, accountability and timely development in the state’s real estate sector.
