UP RERA Approves 21 New Projects Worth ₹7,035 Crore, Boosting Housing and Commercial Sectors

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 21 new projects worth Rs 7,035 crore, paving the way for 10,866 housing and commercial units across the state. These projects are expected to generate employment and meet housing needs across diverse income groups.

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UP RERA Approves 21 New Projects Worth ₹7,035 Crore, Boosting Housing and Commercial Sectors
Real Estate News:The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 21 new projects worth Rs 7,035 crore, paving the way for 10,866 housing and commercial units across the state.

The clearances were given on Saturday in the 184th meeting of the Authority, chaired by Sanjay Bhoosreddy, UP RERA said in a statement.

The approval of 21 projects, adding nearly 11,000 new units, highlights the momentum of real estate growth in Uttar Pradesh. With investments of about Rs 7,035 crore, these developments will meet housing needs across diverse income groups and also create significant economic opportunities for the state, Bhoosreddy said.

The projects, spread across Gautam Buddh Nagar, Ghaziabad, Lucknow, Mathura, Agra, Bareilly, Varanasi, and Barabanki, include residential apartments, villas, plots, and commercial spaces. These developments are expected to generate employment in construction and allied sectors while expanding housing availability, with a share reserved for the Economically Weaker Section (EWS).

An official told PTI that of the total projects approved Saturday, the maximum eight are in Noida and Greater Noida, while three are in Ghaziabad and two each in Lucknow and Varanasi. One project each has been approved in Mathura, Rampur, Agra, Bareilly, Barabanki, and Gorakhpur, the official added.

This approval is a significant step forward for the real estate sector in Uttar Pradesh, demonstrating the state's commitment to infrastructure development and economic growth. The projects are expected to not only boost the housing market but also create numerous job opportunities, contributing to the overall development of the region.

Frequently Asked Questions

What is UP RERA?

UP RERA stands for Uttar Pradesh Real Estate Regulatory Authority. It is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016, to regulate and promote the real estate sector in Uttar Pradesh, ensuring transparency and accountability.

How much investment is involved in the approved projects?

The 21 approved projects involve an investment of about Rs 7,035 crore.

How many units are being added through these projects?

The approved projects will add nearly 10,866 new housing and commercial units across the state.

Which cities in Uttar Pradesh are these projects located in?

The projects are spread across Gautam Buddh Nagar, Ghaziabad, Lucknow, Mathura, Agra, Bareilly, Varanasi, and Barabanki.

What are the expected benefits of these projects?

These projects are expected to generate employment in construction and allied sectors, expand housing availability, and meet the needs of diverse income groups, including the Economically Weaker Section (EWS).

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