UP RERA clears Rs 864 crore investment in housing and commercial projects

NoidaThe Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved six new real estate projects with a proposed investment of Rs 863.94 crore across five districts — Bareilly, Kanpur Nagar, Noida, Lucknow, and Varanasi.

According to the authority, these projects will collectively develop around 1,470 residential and commercial units, reflecting steady growth and investor confidence in the state’s property market.

Bareilly received approval for two projects, while Kanpur Nagar, Noida, Lucknow, and Varanasi were each cleared for one. The highest investment is in Noida at Rs 444 crore, followed by Kanpur Nagar at Rs 173.64 crore, Lucknow at Rs 136.94 crore, Bareilly at Rs 60.42 crore for its two projects, and Varanasi at Rs 48.94 crore.

Most of the approved projects are residential, while those in Noida and Lucknow are commercial. “The distribution of projects reflects balanced real estate growth across the state and growing investor interest in different regions,” UP RERA said in a statement.

The authority said the projects will strengthen housing and commercial infrastructure while generating employment and stimulating local economies. Construction activity is expected to create direct and indirect jobs for labourers and professionals and boost allied industries such as cement, steel, tiles, electrical goods, paints, furniture, transport, and financial services.

UP RERA attributed the rise in investor confidence to its transparent systems and timely project evaluations, which have expanded real estate activity into smaller and medium-sized cities.

“This investment of about Rs 864 crore will not only boost the construction industry but also contribute to the state’s economy and employment generation. UP RERA is committed to ensuring that every project is completed in compliance with regulations and in the best interest of homebuyers,” said UP RERA Chairman Sanjay Bhoosreddy.

The decision was taken at the 188th meeting of the authority chaired by Bhoosreddy on Tuesday, with senior officials and subject experts in attendance.