The Uttar Pradesh Real Estate Regulatory Authority has approved 12 new real estate projects in six districts of the state. These projects involve a total estimated investment of ₹1,663.85 crore. A total of 3,090 residential and commercial units will be developed through these projects. The approved projects include residential, commercial and mixed-use projects.

The projects were approved in the 214th Authority Meeting of UP RERA. The meeting was chaired by UP RERA Chairman Shri Sanjay Bhoosreddy. The projects were discussed in the presence of senior officials. Along with approving the projects, the Authority has stressed that real estate projects should be developed according to the prescribed rules and timelines and that the interests of homebuyers should be protected.

The approved projects will expand residential and commercial facilities in different cities of the state. These projects will also increase construction activities and create more work opportunities in other sectors connected with the real estate industry.

Approval of Projects in Six Districts

Lucknow was ahead in terms of investment and the number of units to be developed. A total of four projects have been approved in Lucknow. These include two residential projects, one commercial project and one mixed-use project. The projects involve a total estimated investment of ₹609.35 crore and will include the development of 1,972 residential and commercial units.

In Ghaziabad, three residential projects have been approved. These projects involve a total estimated investment of ₹605.06 crore. A total of 574 residential units will be developed through these projects.

In Hapur, two residential projects have been approved. These projects involve a total estimated investment of ₹123.45 crore and will include the construction of 192 residential units.

In Ayodhya, one residential project with an estimated investment of ₹72.61 crore has been approved. A total of 85 residential units will be developed under this project.

In Prayagraj, one residential project has been approved. The project involves an estimated investment of ₹51.66 crore and will include the development of 109 residential units.

In Kanpur, one residential project has also been approved. The project involves an estimated investment of ₹201.72 crore and will include the development of 158 residential units.

Construction Activities and Employment to Get a Boost

A total investment of ₹1,663.85 crore has been proposed for these projects. Construction of these projects will increase activities in the real estate sector. Along with construction work, employment opportunities are also expected to increase in construction materials, engineering, transport and other related sectors.

Once these projects are completed, residential and commercial facilities in the concerned districts will expand. This will also help meet the growing housing needs of the cities.

Focus on Transparent and Planned Development

UP RERA gives priority to transparency, accountability and compliance with rules in the real estate sector. Along with approving projects, the Authority also ensures that promoters follow the provisions of the RERA Act and develop projects according to the prescribed process and timelines.

Through the approval of new projects, the Authority aims to promote planned development of the real estate sector in the state and protect the interests of homebuyers.

On the approval of the projects, UP RERA Chairman Sanjay Bhoosreddy said that the Authority is continuously working for the planned and transparent development of the real estate sector in the state. He said that along with timely approval of projects, monitoring them and ensuring compliance with rules are also among the Authority’s priorities.

He said that the new projects will expand residential and commercial facilities in the state and boost construction activities. UP RERA will continue to work according to the provisions of the RERA Act and remains committed to protecting the interests of homebuyers and maintaining a trustworthy environment in the real estate sector.