Infrastructure Projects Fueling Uttar Pradesh's Real Estate Market

Uttar Pradesh’s real estate regulatory authority, UP-RERA, is poised to sanction 400 new projects in 2026, a notable increase from the 308 projects sanctioned in the previous year. According to Sanjay R Bhoosreddy, the Chairman of UP-RERA, this growth is largely attributed to the state’s improved infrastructure.

Addressing a real estate summit organized by industry body FICCI, Bhoosreddy emphasized that the property market in Uttar Pradesh is no longer confined to major cities like Lucknow, Noida, Greater Noida, and Ghaziabad. Real estate activities have significantly picked up in other cities such as Kanpur, Gorakhpur, Varanasi, Ayodhya, Jhansi, Hapur, Bareilly, Meerut, Muzaffarnagar, and Gonda.

Bhoosreddy provided a breakdown of the project sanctions over the past few years: 197 projects in 2023, 259 in 2024, and 308 in 2025. As of the current year, 108 projects have already been sanctioned, with projections indicating that the total will surpass 400 by the end of 2026. Under the RERA Act, real estate developers are required to obtain a RERA registration number before launching their projects for sale.

The RERA law has been instrumental in creating a level playing field for both real estate developers and consumers. Bhoosreddy noted that the real estate prices in western Uttar Pradesh have seen a sharp rise due to infrastructure developments, including the construction of the Jewar airport. He also highlighted that the real estate sector is thriving in areas where the state government has developed expressways.

Anand Kumar, Chairman of RERA for the NCT of Delhi, called for all stakeholders to prioritize honesty and move beyond individual interests to enhance the efficiency and transparency of the sector. He stressed the importance of greater awareness of the RERA Act among both buyers and sellers.

Sandip Somany, Past President of FICCI and CMD of Somany Impresa Group, stated that India’s real estate sector is entering a new phase of growth, driven by rising investor confidence and steady demand. Raj Menda, Chairman of the FICCI Committee on Urban Development and Real Estate and Chairman of the Supervisory Board at RMZ, emphasized that sustaining the sector's growth requires the integration of digital discipline across the entire project lifecycle, not just as a front-end tool.

Vipul Roongta, MD and CEO of HDFC Capital Advisors Ltd, pointed out that two-thirds of India’s real estate market is residential. Given the country's young and aspirational population, the demand for residential units is expected to grow. Roongta, who is also Co-Chairman of the FICCI Committee on Urban Development and Real Estate, stated that the growth of any major economy is often supported by a robust mortgage and residential industry.

The concerted efforts of regulatory authorities, industry leaders, and the government are paving the way for a more transparent and efficient real estate market in Uttar Pradesh. As infrastructure continues to develop, the state is well-positioned to attract more investments and meet the growing housing demands of its residents.