UP RERA witnesses 25% increase in new project registration

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has registered 125 new projects in the first half of 2022, a 25% increase in new project registration in comparison to H1 2021. About 66% of these applications belong to non-NCR districts and 34% belong to NCR districts. The residential category has the highest share of new project registration applications, about 75%, and the applications of commercial and mixed-land used projects are in the remaining 25 %. More project registration in non-NCR districts indicated the growing demand of housing units as well as the growth of the real estate sector across the state. In the first half of 2021, about 100 applications for new project registration had been received. Presently, more than 3200 real estate projects are registered in UP. Lucknow, Kanpur, Varanasi, Bareilly, Prayagraj, Agra, and Mathura are the top districts of non-NCR districts in new project registration. Apart from these popular locations, applications have been received from Amroha, Shahjahanpur, Gonda, Bahraich, Sultanpur, Firozabad, Lalitpur districts that show an upward trend of group housing and rising impact of real estate regulation among promoters of these districts. In NCR, Gautam Budh Nagar, Ghaziabad and Meerut are top in project registration.