UP RERA logs growth in registration of new real estate in 2022
Real Estate

UP RERA logs growth in registration of new real estate in 2022

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) reported a 23% increase in new project registrations in 2022 over the previous year.

According to the UP RERA, 215 projects were registered in Uttar Pradesh in 2022.

The UP RERA was established in 2017 to govern the rapidly increasing real estate sector, introduce transparency, safeguard homebuyers' interests, and ensure timely resolution of consumer and builder disputes.

"Around 258 and 216 projects were registered in 2018 and 2019, respectively, in comparison to 215 projects in 2022. Another 161 and 174 projects were registered in 2020 and 2021, respectively," the state's real estate regulator said in a statement.

The number of projects registered in 2022 increased by around 23% over 2021, according to the report.

According to UP RERA secretary Rajesh Kumar Tyagi, approximately 90 new residential, commercial, and mixed-use real estate projects were registered in the second half of 2022, whereas 125 new projects were registered in the first half.

"In 2020, due to the Covid-19 epidemic, there was a decrease in the registration of new projects and only 161 projects could be registered, in which there was a huge decline, almost 60 per cent, in new project registration in the NCR region," he said.

"In 2021, the health of the real estate sector improved and almost 174 projects were registered. That year, there was a jump of 64 per cent in the registrations of the NCR region, which was like a comeback for the sector. While there was no significant change in registration in non-NCR districts," Tyagi added.

According to the secretary, the registration of 215 projects in 2022 shows "the increasing demand" for homes in Uttar Pradesh, the rapid and positive growth of the real estate sector.

"This year, there was a hike in the registration of new projects from 10 to 30 per cent across categories in NCR and non-NCR districts," he noted.

Also Read
Jodhpur railway stn to be revamped at 4740million in 3 years
Odisha to divest 49% stake in profit-making PSU

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) reported a 23% increase in new project registrations in 2022 over the previous year. According to the UP RERA, 215 projects were registered in Uttar Pradesh in 2022. The UP RERA was established in 2017 to govern the rapidly increasing real estate sector, introduce transparency, safeguard homebuyers' interests, and ensure timely resolution of consumer and builder disputes. Around 258 and 216 projects were registered in 2018 and 2019, respectively, in comparison to 215 projects in 2022. Another 161 and 174 projects were registered in 2020 and 2021, respectively, the state's real estate regulator said in a statement. The number of projects registered in 2022 increased by around 23% over 2021, according to the report. According to UP RERA secretary Rajesh Kumar Tyagi, approximately 90 new residential, commercial, and mixed-use real estate projects were registered in the second half of 2022, whereas 125 new projects were registered in the first half. In 2020, due to the Covid-19 epidemic, there was a decrease in the registration of new projects and only 161 projects could be registered, in which there was a huge decline, almost 60 per cent, in new project registration in the NCR region, he said. In 2021, the health of the real estate sector improved and almost 174 projects were registered. That year, there was a jump of 64 per cent in the registrations of the NCR region, which was like a comeback for the sector. While there was no significant change in registration in non-NCR districts, Tyagi added. According to the secretary, the registration of 215 projects in 2022 shows the increasing demand for homes in Uttar Pradesh, the rapid and positive growth of the real estate sector. This year, there was a hike in the registration of new projects from 10 to 30 per cent across categories in NCR and non-NCR districts, he noted. Also Read Jodhpur railway stn to be revamped at 4740million in 3 years Odisha to divest 49% stake in profit-making PSU

Next Story
Infrastructure Transport

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Next Story
Infrastructure Transport

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Next Story
Infrastructure Urban

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement