UP RERA Approves 17 Projects Worth Rs. 48.44 bn
ECONOMY & POLICY

UP RERA Approves 17 Projects Worth Rs. 48.44 bn

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 17 real estate projects across eight districts ahead of Diwali, involving a proposed investment of Rs. 48.44 bn and the development of more than 5,726 residential and commercial units.

The approvals cover projects in Lucknow, Ghaziabad, Gautam Buddha Nagar, Kanpur, Meerut, Ayodhya, Firozabad and Moradabad. They were cleared during the authority’s 217th, 218th and 219th meetings held at its headquarters, according to an official statement.

Lucknow received the largest share of approvals, with nine projects comprising six residential developments, one mixed-use project and two commercial projects. The projects involve an estimated investment of Rs. 22.03 bn and are expected to provide 3,031 units.

Ghaziabad received approval for two residential projects involving Rs. 9.43 bn and 1,016 units, while Gautam Buddha Nagar received approval for one mixed-use project worth Rs. 9.4 bn, comprising 456 units. Kanpur received approval for a residential project involving Rs. 5.25 bn and 597 units, while a project worth Rs. 1.94 bn with 313 units was cleared in Meerut.

The authority also approved residential projects in Ayodhya, Firozabad and Moradabad. These involve proposed investments of Rs. 266.1 mn, Rs. 108.7 mn and Rs. 10.3 mn, respectively, and will comprise 159, 48 and 12 units. UP RERA Chairman Sanjay Bhoosreddy said timely disposal of project proposals and regular monitoring were necessary to ensure development progressed according to plan. He said the authority would work to provide homebuyers with a safe and trustworthy environment while ensuring compliance with prescribed rules. UP RERA will monitor the approved projects under the RERA Act and protect homebuyers’ interests.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 17 real estate projects across eight districts ahead of Diwali, involving a proposed investment of Rs. 48.44 bn and the development of more than 5,726 residential and commercial units. The approvals cover projects in Lucknow, Ghaziabad, Gautam Buddha Nagar, Kanpur, Meerut, Ayodhya, Firozabad and Moradabad. They were cleared during the authority’s 217th, 218th and 219th meetings held at its headquarters, according to an official statement. Lucknow received the largest share of approvals, with nine projects comprising six residential developments, one mixed-use project and two commercial projects. The projects involve an estimated investment of Rs. 22.03 bn and are expected to provide 3,031 units. Ghaziabad received approval for two residential projects involving Rs. 9.43 bn and 1,016 units, while Gautam Buddha Nagar received approval for one mixed-use project worth Rs. 9.4 bn, comprising 456 units. Kanpur received approval for a residential project involving Rs. 5.25 bn and 597 units, while a project worth Rs. 1.94 bn with 313 units was cleared in Meerut. The authority also approved residential projects in Ayodhya, Firozabad and Moradabad. These involve proposed investments of Rs. 266.1 mn, Rs. 108.7 mn and Rs. 10.3 mn, respectively, and will comprise 159, 48 and 12 units. UP RERA Chairman Sanjay Bhoosreddy said timely disposal of project proposals and regular monitoring were necessary to ensure development progressed according to plan. He said the authority would work to provide homebuyers with a safe and trustworthy environment while ensuring compliance with prescribed rules. UP RERA will monitor the approved projects under the RERA Act and protect homebuyers’ interests.

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