+
UP RERA aims to revive 10,000 stalled housing units
Real Estate

UP RERA aims to revive 10,000 stalled housing units

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) is undertaking an initiative to revive housing projects comprising 10,000 units in order to safeguard the interests of both homebuyers and lenders.

This effort by the authority encompasses the examination of 17 housing projects valued at approximately Rs 20 billion, all of which have encountered various obstacles such as fund misappropriation, loan defaults, promoter bankruptcies, and financial misconduct.

Sanjay Bhoosreddy, Chairman of UP RERA, expressed the regulator's intent, stating, "The regulator will engage with defaulting promoters, financial institutions, bankers, and agents to formulate a comprehensive plan for the resurrection of these projects." Notably, some of these projects are associated with prominent builders such as Ansals and Supertech.

Highlighting the concerning trend of real estate companies facing bankruptcy, Chief Minister Yogi Adityanath had urged officials to devise a strategy to address this issue in the previous year.

The onset of this distressing trend in the state can be traced back to the bankruptcy of leading realtor, the Amrapali Group. Subsequently, the National Company Law Tribunal (NCLT) initiated insolvency proceedings against two major players, namely Supertech and Logix City Developers.

Beyond Noida and Ghaziabad, Bhoosreddy noted that new housing projects were being proposed in smaller towns, including Jhansi, Bareilly, Moradabad, Agra, Mathura, and Vrindavan, indicating the growth of the organised real estate sector.

Among the nearly 2,056 projects currently in progress, more than half were concentrated in the eight districts of the National Capital Region (NCR) of UP, particularly Gautam Buddha Nagar, Ghaziabad, Meerut, and Hapur.

In non-NCR districts, Lucknow accounted for 400 projects, equivalent to 20 per cent of the total ongoing projects.

Since its establishment, UP RERA has issued 8,575 recovery certificates, amounting to over Rs 30 billion, against defaulting builders and developers. RERA was implemented nationwide in May 2017.

Bhoosreddy added, "To date, approximately 3,470 projects have been registered with the Authority. In 2023, nearly 125 new projects have been registered thus far, with 225 projects registered in the previous year."

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) is undertaking an initiative to revive housing projects comprising 10,000 units in order to safeguard the interests of both homebuyers and lenders.This effort by the authority encompasses the examination of 17 housing projects valued at approximately Rs 20 billion, all of which have encountered various obstacles such as fund misappropriation, loan defaults, promoter bankruptcies, and financial misconduct.Sanjay Bhoosreddy, Chairman of UP RERA, expressed the regulator's intent, stating, The regulator will engage with defaulting promoters, financial institutions, bankers, and agents to formulate a comprehensive plan for the resurrection of these projects. Notably, some of these projects are associated with prominent builders such as Ansals and Supertech.Highlighting the concerning trend of real estate companies facing bankruptcy, Chief Minister Yogi Adityanath had urged officials to devise a strategy to address this issue in the previous year.The onset of this distressing trend in the state can be traced back to the bankruptcy of leading realtor, the Amrapali Group. Subsequently, the National Company Law Tribunal (NCLT) initiated insolvency proceedings against two major players, namely Supertech and Logix City Developers.Beyond Noida and Ghaziabad, Bhoosreddy noted that new housing projects were being proposed in smaller towns, including Jhansi, Bareilly, Moradabad, Agra, Mathura, and Vrindavan, indicating the growth of the organised real estate sector.Among the nearly 2,056 projects currently in progress, more than half were concentrated in the eight districts of the National Capital Region (NCR) of UP, particularly Gautam Buddha Nagar, Ghaziabad, Meerut, and Hapur.In non-NCR districts, Lucknow accounted for 400 projects, equivalent to 20 per cent of the total ongoing projects.Since its establishment, UP RERA has issued 8,575 recovery certificates, amounting to over Rs 30 billion, against defaulting builders and developers. RERA was implemented nationwide in May 2017.Bhoosreddy added, To date, approximately 3,470 projects have been registered with the Authority. In 2023, nearly 125 new projects have been registered thus far, with 225 projects registered in the previous year.

Next Story
Infrastructure Urban

Jupiter Opens First EV Showroom in Hyderabad

Jupiter Electric Mobility Pvt Ltd (JEM), the electric commercial vehicle arm of Jupiter Wagons Ltd, has inaugurated its first showroom in New Bowenpally, Secunderabad, Hyderabad. The launch also marks the introduction of its 1.05-tonne four-wheeler electric light commercial vehicle (eLCV), JEM TEZ, to Telangana’s growing logistics and intra-city freight market. This expansion underscores JEM’s commitment to delivering purpose-built sustainable mobility solutions and accelerating the electrification of India’s logistics sector.The new showroom, operated by Arven Motors Pvt Ltd, offers cus..

Next Story
Infrastructure Energy

Premier Energies Launches 620W DCR Solar Modules in India

Premier Energies Limited, one of India’s largest integrated solar manufacturers, has launched its next-generation 620W DCR solar modules using G12R TOPCon technology, now among the most powerful large-format panels available in the country.The new modules, built with Tunnel Oxide Passivated Contact (TOPCon) architecture, deliver superior power density, improved temperature coefficients, and enhanced low-light performance. The rectangular G12R N-type cell design enables higher string power and balance-of-system optimisation, making the panels suitable for utility-scale projects as well as com..

Next Story
Infrastructure Energy

ONGC Starts Gas Sales from Rajasthan Chinnewala Tibba Block

Oil and Natural Gas Corporation Limited (ONGC) has commenced natural gas sales from the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, marking the successful monetisation of the Chinnewala Tibba field in the Rajasthan Kutch Onland Exploratory Asset (RKOEA). Gas sales officially began on 25 August 2025.This development highlights ONGC’s commitment to boosting domestic energy production and strengthening India’s energy security under the guidance of the Ministry of Petroleum and Natural Gas. Located in western Rajasthan, close to the Indo-Pakistan border, the Chinnewala Tibb..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?