Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has consented to 16 fresh real estate projects spread across nine the districts of the state, with a total investment of ₹3,200.16 crore. This is a clear indication of the upward trend of the state's real estate sector and the attention paid to the balanced growth of urban areas. The information was shared by the Authority in its 190th meeting held at the UP RERA headquarters and led by Sanjay Bhoosreddy, Chairperson, U.P. RERA. The meeting was also attended by the top officials.
These projects will bring about the construction of 3,845 residential, commercial, and mixed-use units. With six projects valued at ₹2,154.69 crore, Lucknow was the district that got the most number of approvals. In these projects which will contribute 1406 units to the housing and commercial stock of the city, there are two residential, two commercial, and two mixed-use projects. Agra is home to a single residential project and a mixed-use project worth ₹200.69 crore, resulting in a total of 668 units.
Ghaziabad was given the green light for two commercial projects amounting to ₹74.18 crores, comprising 210 units. Other districts have also experienced considerable approvals: Bareilly has a residential project of ₹104 crore with 454 units; Prayagraj got a residential project of ₹6.05 crore for 74 units; Aligarh has a residential project of ₹77.47 crores with 142 units; Jhansi got a residential project of ₹16.26 crore comprising 220 units; Mathura – Vrindavan has a residential project of ₹50.48 crore with 127 units; and Moradabad has a residential project of ₹516.34 crore with 544 units.
The combination of residential, commercial, and mixed-use projects demonstrates UP RERA’s commitment to balanced development at the regional level. A residential project is the most prominent one that got the green light, but the on the other hand, the commercial and mixed-use projects, especially in Lucknow and Ghaziabad, are a testament to the increasing need for business infrastructure and investment-ready spaces. The authority indicated that the projects would fuel the state's economic growth through the creation of direct and indirect jobs and the growth of various sectors such as construction materials, transport, finance, and services.
While talking about the prpjects, Sanjay Bhoosreddy, Chairperson of UP RERA said, ““The investment of ₹3,200.16 crore will strengthen the construction ecosystem, create employment opportunities, and ensure the availability of quality housing and commercial infrastructure. These approvals reflect our commitment to transparency, regulatory compliance, and the protection of homebuyers’ interests while supporting planned urban growth across the state.”
As per UP RERA, the sanctioning process goes hand in hand with the authority’s objective of fostering urban growth that is not only sustainable but also well-organized. By permitting residential as well as commercial projects, the authority is looking forward to meeting the housing needs as well as facilitating business and commercial growth. It is primarily in Lucknow and Ghaziabad that these projects will be instrumental in luring investors as well as creating jobs which in turn will invigorate the whole real estate ecosystem in the state.
Moreover, the projects can likewise churn the availability of prime infrastructures. Since the largest share of approvals comprises residential projects, homebuyers will be presented with more choices of affordable as well as mid-segment housing. On the other hand, commercial and mixed-use developments will be able to attract contemporary office spaces, retail outlets, and the like that are integrated facilities catering to the latest needs of both businesses and residents.
Regional diversity is an absolute priority for UP RERA, which zoners in on the growth potential not only in the metros but also in emerging towns and cities. This approach aids in producing balanced urbanisation, creating job opportunities, and ushering in the development of transport, logistics, and co- functionalities in small districts.
The regulatory body reiterated that it is determined to keep an eye on project execution, ensure punctual delivery, and protect homebuyers’ rights. UP RERA is cautioning developers against possible penalties resulting from procrastination or non-compliance, which is putting the regulator in the position of a promoter of stakeholder accountability and protector of their interests.
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