The Uttar Pradesh Real Estate Regulatory Authority has approved 11 real-estate projects in five districts. The total investment in these projects is estimated to be around Rs 2,086.06 crore and it will add up to 1,873 residential-commercial units.
The projects proposed by different developers have been approved in Gautam Buddh Nagar, Lucknow, Ghaziabad, Barabanki, and Moradabad districts during the 215th meeting of the real estate regulator. Maximum investment is in Gautam Buddh Nagar, while maximum projects approved are in Lucknow.
UP RERA approves 11 projects across five districts
The approved projects consist of residential and commercial projects with the proposed investment being distributed unevenly across the five districts.
Gautam Buddh Nagar is having two residential projects approved with an investment of Rs 1,800.36 crore which constitutes the major share of total investment estimated for all approved projects. In Lucknow district, there are five approved projects out of which two residential and three commercial projects have been planned to be established with an investment of Rs 169.53 crore.
The Ghaziabad district has two approved residential projects worth Rs 106.84 crore while the Barabanki district has one approved residential project with an estimated investment of Rs 5.78 crore. Moradabad has one commercial project involving around Rs 3.55 crore.
Together, the projects will add 1,873 residential and commercial units across the five districts. The approvals followed a review of the project proposals by the authority.
Gautam Buddh Nagar gets Rs 1,800 crore residential investment
Gautam Buddh Nagar stands out in the latest approvals because of the size of investment involved. The two residential projects cleared in the district account for Rs 1,800.36 crore, with 1,398 residential units proposed.
The district therefore accounts for about 86% of the total estimated investment covered by the 11 approvals. The concentration is notable because Gautam Buddh Nagar has only two of the 11 projects, but those projects make up the bulk of the investment.
However, the figures represent estimated investment and proposed units associated with the newly approved projects, rather than completed development.
Lucknow leads in number of approved projects
While Gautam Buddh Nagar tops the list in terms of investment, Lucknow has the maximum number of projects approved.
Five projects have been approved in the district including two residential and three commercial projects. These involve an investment of Rs 169.53 crore and 198 units. The difference between the two districts highlights the varying scale of projects in the latest approval round. Lucknow has more projects, but the combined investment is much lower than the two large residential projects approved in Gautam Buddh Nagar.
Ghaziabad, Barabanki and Moradabad add 277 units
The remaining three districts account for six projects and 277 units.
Ghaziabad has two residential projects with an estimated investment of Rs 106.84 crore. The projects are expected to comprise 211 residential units.
In Barabanki, one residential project has been approved with an estimated investment of Rs 5.78 crore and 53 residential units. Moradabad has received approval for one commercial project involving around Rs 3.55 crore and 13 units.
UP RERA said the approved projects will be developed in accordance with the provisions of the RERA Act, with the authority monitoring their progress and compliance. The proposed investment is also expected to support activity in construction-related sectors, including materials, transportation, engineering and labour, as the projects move forward.
The latest approvals expand the registered project pipeline across several major urban markets in Uttar Pradesh, with the bulk of the proposed investment concentrated in Gautam Buddh Nagar and a larger number of smaller projects spread across Lucknow, Ghaziabad, Barabanki and Moradabad.
