UP Rera approves 10 projects worth Rs 1,412 cr across five districts

New Delhi: The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 10 new projects across five districts involving an estimated investment of Rs 1,412.55 crore and the development of 1,632 residential and commercial units, an official statement said on Monday.

The projects were approved at the authority's 207th meeting chaired by UP RERA Chairman Sanjay Bhoosreddy.

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According to the statement, Ghaziabad accounted for the highest investment, with two projects -- one residential and one commercial -- worth around Rs 957.20 crore. The projects will comprise 625 residential and commercial units.

Gautam Buddh Nagar topped the state in terms of the number of units, with three commercial projects worth Rs 281.64 crore for the development of 680 commercial units.

Three projects were approved for Lucknow -- two residential and one commercial -- with an estimated investment of Rs 26.57 crore. These projects will have 215 residential and commercial units.

One mixed-use project worth Rs 144.09 crore with 69 units was approved for Gorakhpur, while Moradabad got one residential project involving an estimated investment of Rs 3.05 crore and 43 housing units.

The authority said the projects are expected to boost planned urban development, construction activity and employment, besides generating demand in sectors such as construction materials, transport and engineering services.

"UP RERA is continuously promoting transparency, accountability and time-bound development in the real estate sector. Prompt approval of projects coupled with effective monitoring is creating a better environment for both homebuyers and promoters," Bhoosreddy said.

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He said the authority would continue to ensure strict compliance with the provisions of the Real Estate (Regulation and Development) Act while safeguarding consumer interests and promoting balanced and orderly growth of the sector.

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