Noida emerges as top pick for realtors, bags nearly 50% of investments in UP

Of the 259 projects registered with UP-Rera, 46 percent were for Noida. (File photo)

The real estate sector of Uttar Pradesh saw a significant boom in 2024 with Noida cornering 46 percent of the total investments in the state.

Of the 259 projects registered with the Uttar Pradesh Real Estate Regulatory Authority (UP Rera), promising a total investment of Rs 45,000 crore, Noida emerged as the top investor's choice while other NCR cities accounted for 34 percent of the total projects registered, according to a report by the Times of India.

The Noida International Airport, set to open for flight operations from April this year, is being seen as a major real estate driver in the region. The airport and related infrastructure, like an extensive network of roads, railways and new metro and rapid rail corridors planned around the airport, has propelled property demand in the city.

Also Read: Greater Noida achieves nearly 50% target of investment

According to UP Rera data, 52 projects registered in Noida last year brought in an investment of Rs 20,929 crore.

"Previously, we have seen that almost 50 percent of the real estate projects were being launches in Noida. The data for 2024 seems to change that. Lucknow now leads in the state in terms of the number of new launches. But Noida continues to lead in terms of the number of units, project area and overall investment," an official from UP Rera told TOI.

Ghaziabad occupies the third position after Gautam Buddh Nagar and Lucknow in terms of area and units.

UP Rera chairman Sanjay Bhoosreddy told TOI this was the highest number of projects to be registered in one year since the Authority's inception. A total of 197 projects were registered in 2023 and 215 in 2022.