UP RERA has approved fifteen real estate projects in Uttar Pradesh aimed at stimulating the regional market. The total investment in these projects will amount to approximately 1226.57 crore rupees. These initiatives plan to construct 1549 residential and commercial units across eight districts of the state. This information was officially announced by UP RERA on Tuesday.
The decision to approve the projects was made at the 216th meeting of the body. The meeting was chaired by the Chairman of UP RERA, Sanjay Bhusreddi. The projects received approval after a thorough review of their proposals at the body's headquarters.
According to UP RERA data, Lucknow received the highest number of approvals—seven residential projects. Investments of 471.24 crore rupees are planned for these projects, which will facilitate the construction of 599 residential units.
Two projects were approved in Varanasi: one residential and another multi-functional, intended for both living and other activities. 166.73 crore rupees will be spent on these two projects, ensuring the creation of 330 units. In Mathura, one residential project valued at 252.80 crore rupees will be built, providing 310 living spaces.
One commercial project was approved in Agra, with an allocated investment of 135 crore rupees. This project involves the construction of 29 commercial spaces.
A mixed-use project was approved in Bulandshahr with investments of 119.34 crore rupees, including the construction of 122 units. In Muradabad, a mixed-use project worth 42.34 crore rupees was sanctioned, involving the construction of four units.
A residential project in Meerut received approval with a budget of 26.44 crore rupees and plans to construct 63 units. Additionally, a residential project worth 12.68 crore rupees was approved in Barabanki, where 92 units are planned to be created.
According to UP RERA, these projects are expected to accelerate the pace of construction work in the respective districts and create new employment opportunities. Related industries such as building material production, transport, engineering, and labor services may also benefit.
The body emphasized that monitoring the implementation of the projects will continue even after receiving permissions. Special attention will be paid to compliance with the Real Estate Act of 2016 and its related regulations, including monitoring the completion of projects within the stipulated timeframes.