UP RERA Approves 13 Realty Projects Worth 2,380 Crore

UP RERA approves 13 residential and commercial projects worth ₹2,380 crore across six districts, adding 4,724 units, with Barabanki leading investment and Lucknow recording the highest housing supply.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) clears 13 residential and commercial real estate projects in six districts, facilitating investments of ₹2,380 crore and creation of 4,724 residential and commercial units. These clearances reflect the ongoing growth of the real estate industry in the state and help in creating additional real estate supplies.

Barabanki comes out as the biggest investment hub for the districts that have been sanctioned recently. There are two housing schemes in Barabanki, which together will make an investment worth ₹751.42 crore, resulting in the creation of 591 units. The magnitude of the investment makes Barabanki stand out from the rest of the districts because of the total project value.

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Highest increase in the housing stock is observed in the district of Lucknow. The agency has granted permission for construction of one residential project worth ₹385.76 crore that would add up 1,392 units. Thus, Lucknow becomes the best-performing district with respect to the number of units under project clearances.

Real estate transactions have also taken place in Varanasi, and three residential projects have been sanctioned. The total investment in these three projects amounts to ₹750.24 crore, and these projects will comprise a total of 1,189 units.

Three projects in Ghaziabad have been sanctioned, with two being commercial projects and one being a residential project. These projects have involved investments worth ₹286.27 crore, and 864 units of the projects have been sanctioned. Two projects in Gautam Budh Nagar, where Noida is located, have also been sanctioned, which include one residential and one commercial project worth about ₹186 crore.

Approval is granted to two residential projects for Agra amounting to an investment of ₹20.35 crore. These projects will add 124 units to the list of residential projects sanctioned in the state.

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The approvals are given in the 212nd and 213rd meetings of UP RERA under the Chairmanship of UP RERA Chairman Sanjay Bhoosreddy. According to the authority, the timely development of projects registered with UP RERA is a crucial priority.

In addition, the new approvals will help in construction activities and will create demand in the allied sectors such as construction materials, engineering and transport services. The presence of the projects in different markets of urban and emerging locations ensures that the recent approvals increase the pipeline of property developments in Uttar Pradesh.