Lucknow: The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 16 new real estate projects across nine districts of the state, involving an estimated investment of Rs 3,200.16 crore, with Lucknow accounting for the highest number of projects and investment, officials said on Monday. The approvals were granted during the 190th meeting of the authority held at the UP RERA headquarters here under the chairmanship of Sanjay Bhoosreddy.
According to the UP RERA statement, the approved projects will lead to the development of 3,845 residential, commercial and mixed-use units across the state. Of the total, Lucknow emerged as the major contributor with six projects involving an investment of Rs 2,154.69 crore. These include two residential, two mixed-use and two commercial projects, comprising 1,406 units.
Agra was granted approval for two projects with a combined investment of Rs 200.69 crore, including one residential and one mixed-use project, covering 668 units. Ghaziabad received approval for two commercial projects worth Rs 74.18 crore, involving 210 units, according to the statement. In other districts, Bareilly was approved for one residential project worth Rs 104 crore with 454 units, Prayagraj for one residential project worth Rs 6.05 crore with 74 units, and Aligarh for one residential project valued at Rs 77.47 crore with 142 units, it said.
Jhansi received approval for one residential project worth Rs 16.26 crore with 220 units, Mathura-Vrindavan for one residential project worth Rs 50.48 crore with 127 units, and Moradabad for one residential project involving an investment of Rs 516.34 crore and 544 units, it added. Officials said the mix of residential, commercial and mixed-use projects reflects an emphasis on planned and regionally balanced urban development.
The approvals in Lucknow and Ghaziabad, particularly in the commercial and mixed-use segments, indicate growing investment activity in urban business hubs. The authority said the total investment of over Rs 3,200 crore is expected to generate substantial direct and indirect employment and boost allied sectors such as construction materials, transport, finance and services. Bhoosreddy said the approvals reflected sustained growth in the state's real estate sector.
"The investment of Rs 3,200.16 crore will strengthen the construction ecosystem, create employment opportunities and ensure the availability of quality housing and commercial infrastructure," he said, adding that UP RERA remained committed to transparency, regulatory compliance and the protection of homebuyers' interests.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
