UP RERA Approves 21 Real Estate Projects Worth Rs 7,035 Crore

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 21 new real estate projects worth Rs 7,035 crore, adding 10,866 housing and commercial units across the state.

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UP RERA Approves 21 Real Estate Projects Worth Rs 7,035 Crore
Real Estate News:The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has given the green light to 21 new real estate projects worth Rs 7,035 crore, paving the way for the addition of 10,866 housing and commercial units across Uttar Pradesh. The clearances were granted during the 184th meeting of the Authority, chaired by Sanjay Bhoosreddy, as stated in an official release from UP RERA.

The approval of these 21 projects, which will add nearly 11,000 new units, underscores the robust growth of the real estate sector in Uttar Pradesh. With an investment of about Rs 7,035 crore, these developments are expected to cater to the housing needs of various income groups and also create significant economic opportunities for the state. Bhoosreddy highlighted the importance of these projects in driving the real estate market forward and generating employment in the construction and related sectors.

The approved projects are spread across several key cities in Uttar Pradesh, including Gautam Buddh Nagar, Ghaziabad, Lucknow, Mathura, Agra, Bareilly, Varanasi, and Barabanki. The developments encompass a range of property types, such as residential apartments, villas, plots, and commercial spaces. An official from UP RERA informed that the maximum number of projects, eight in total, are located in Noida and Greater Noida. Three projects are in Ghaziabad, and two each in Lucknow and Varanasi. Additionally, one project each has been approved in Mathura, Rampur, Agra, Bareilly, Barabanki, and Gorakhpur.

These new real estate projects are expected to have a significant impact on the local economy by generating employment in the construction and allied sectors. They will also expand the availability of housing, with a portion reserved for the Economically Weaker Section (EWS). This move by UP RERA is a positive step towards meeting the growing demand for affordable housing and commercial spaces in Uttar Pradesh, contributing to the state's overall development and prosperity.

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 protect the interests of homebuyers and promote a transparent and healthy real estate market in Uttar Pradesh.

How many new projects were approved?

UP RERA approved 21 new real estate projects.

What is the total investment value of these projects?

The total investment value of the approved projects is Rs 7,035 crore.

Which cities in Uttar Pradesh will see these new developments?

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

What types of properties are included in these projects?

The projects include a variety of property types such as residential apartments, villas, plots, and commercial spaces.

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