UP RERA approves 15 new projects worth 2,434 cr across eight districts

Lucknow, Oct 31 (PTI) The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 15 new projects across eight districts of the state involving a total investment of Rs 2,434 crore, the regulatory body said on Friday.

The approvals were granted during the 187th meeting of UP RERA chaired by Sanjay Bhoosreddy. The projects together will see the development of 3,043 flats, 98 plots and 50 shops, it said in a statement.

According to the authority, the newly approved projects are spread across Lucknow, Shahjahanpur, Mathura, Moradabad, Ghaziabad, Hapur, Noida and Jhansi. Of these, Shahjahanpur received the highest number of clearances with three projects, followed by Lucknow, which also secured three approvals. Two projects each were sanctioned in Mathura, Moradabad, and Ghaziabad, while Hapur, Noida, and Jhansi got one project each.

Most of the approved projects are residential, while the commercial ones are concentrated in Moradabad, Ghaziabad, and Hapur, reflecting what the authority described as a "balanced spread of real estate growth across Uttar Pradesh"..

Bhoosreddy said the approvals mark another step towards strengthening transparency, accountability and systematic expansion of the real estate sector in the state.

"The 15 projects approved in the 187th meeting reflect the state's growing real estate potential. The Rs 2,434 crore investment will not only boost construction activity but also significantly contribute to Uttar Pradesh's economy and employment generation," Bhoosreddy said.

The authority said the investments are expected to generate thousands of direct and indirect employment opportunities while stimulating demand in related industries such as steel, cement, tiles, paint, furniture, transport and financial services.

With Shahjahanpur emerging as a new real estate hub, and industrially significant cities like Moradabad and Ghaziabad witnessing commercial expansion, UP RERA said the latest approvals underline that development in the state is now expanding well beyond major metropolitan areas. PTI KIS MR