Uttar Pradesh is fast becoming a major real estate hub. In its latest meeting, UP RERA approved nine mega projects worth over ₹2,009 crore. 1,586 luxury flats, plots and villas will be built in these projects. All the projects were approved in a long meeting chaired by Chairman Sanjay Bhusreddy at the RERA headquarters on Thursday.
The biggest project has been approved for Noida. Being in NCR, this area is becoming increasingly attractive for investors and is becoming a major hub for real estate development. Lucknow, Barabanki, Prayagraj, Chandauli and Aligarh districts have also been included in this. The 189th board meeting was held at the headquarters under the chairmanship of RERA Chairman Sanjay Bhusreddy. Senior officials and special experts attended the meeting.
Approval to these six districts was given after a detailed review of several projects including flats, plots and villas built in the real estate market. RERA Chairman Sanjay Bhoosreddy said that real estate investment in Uttar Pradesh is the result of the state government’s transparent policy, administrative system, better law and order and fast connectivity. In Noida, the upcoming Jewar Airport and Yamuna Expressway are the top choices of investors. These efforts of the government have made Uttar Pradesh one of the fastest growing real estate markets in the country.
Economy will get a new boost
Sanjay Bhoosreddy said that the investment of ₹2009 crore in these projects will contribute significantly to the GDP growth of the state. This is also expected to provide employment opportunities. Supporting industries like cement, steel, paint, tile, furniture, electrical equipment, transportation, insurance and financial services will also get a positive boost.
Real estate experts believe that real estate investment of more than ₹1 lakh crore is expected in Uttar Pradesh by 2026. After Noida, Lucknow and Agra, tier-2 cities like Barabanki, Chandauli and Aligarh are also in the eye of investors. UP’s real estate story is no longer based on dreams, it is being built with bricks of reality.