Uttar Pradesh Property Market Surges: UP-RERA Projects to Top 400 by 2026
The real estate market in Uttar Pradesh (UP) is experiencing a significant surge, with the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) expecting to sanction over 400 new projects by 2026. This projection is a notable increase from the 308 projects sanctioned in 2025, highlighting the robust growth of the property market across the state.
Addressing a real estate summit organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), UP-RERA Chairman Sanjay R Bhoosreddy emphasized that the property market in UP is no longer confined to major cities like Lucknow, Noida, Greater Noida, and Ghaziabad. Real estate activities have picked up in other cities such as Kanpur, Gorakhpur, Varanasi, Ayodhya, Jhansi, Hapur, Bareilly, Meerut, Muzaffarnagar, and Gonda.
UP-RERA sanctioned 197 projects in 2023, which increased to 259 in 2024 and further to 308 in 2025. As of the current year, 108 projects have already been sanctioned. Bhoosreddy stated that more than 400 projects are likely to be sanctioned by the end of 2026. Under the RERA Act, real estate developers must obtain a RERA registration number before launching their projects for sale.
Bhoosreddy noted that the RERA law has brought a level playing field between real estate developers and consumers, ensuring transparency and accountability. The real estate prices in western UP have seen a sharp rise due to infrastructure development, including the construction of the Jewar airport.
The real estate sector is performing well in areas where the state government has developed expressways, further boosting property values and attracting investors. Anand Kumar, Chairman of the Real Estate Regulatory Authority (RERA) for the National Capital Territory (NCT) of Delhi, urged all stakeholders to prioritize honesty and efficiency, moving beyond individual interests to make the sector more transparent and reliable.
Kumar also stressed the need for greater awareness of the RERA Act among both buyers and sellers. Sandip Somany, Past President of FICCI and CMD of Somany Impresa Group, highlighted 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 India's real estate sector has become one of the most significant growth stories globally. To sustain this position, the sector must adopt digital discipline across the entire project lifecycle, not just as a front-end tool.
Vipul Roongta, MD and CEO of HDFC Capital Advisors Ltd, noted that the residential segment constitutes two-thirds of India's real estate market. With a 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, added that the growth of any major economy can be supported by a robust mortgage and residential industry.
