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UP RERA registers 36 real estate projects worth Rs 3,600 crore in September

Of these, 24 new projects are in non-NCR towns and 12 in NCR

Representational image.

Representational image.

As many as 36 new real estate projects across Uttar Pradesh, estimated to be worth Rs 3,648.35 crore, have been registered with the Uttar Pradesh Real Estate Regulatory Authority (UP RERA). Of these, the maximum is residential (32) and four commercial, UP RERA said on October 13.

The numbers of proposed units to be constructed in these projects are 8116, of which 6,931 are residential and 1,185 commercial.

As a trend, non-NCR districts are the new focus area for the promoters as 24 projects have been registered in these districts. As many as 12 new projects have been proposed in NCR districts. Thus the ratio of non-NCR to NCR in registration of new projects is 70:30. Currently, non-NCR districts are getting a higher number of registrations than NCR districts in comparison to 2017 when the ratio used to be 50:50, it said.

All projects have been registered in 14 districts of the state of which three projects are from NCR and the remaining 11 are from non-NCR districts.

In NCR, seven projects have been registered in Ghaziabad district followed by Gautam Budh Nagar and Meerut where three projects have been registered in each district. In non-NCR towns, the maximum number of projects, almost four, have been registered in Lucknow and Agra each, three projects have been registered in Kanpur, Vrindavan and Moradabad, and two projects in Gorakhpur. One project each has been registered in Jhansi, Varanasi, and Gorakhpur districts.

This festival season promoters are coming forward to register real estate projects in districts like Gonda and Badaun where group housing projects were not in vogue.

The registration of real estate projects from non-NCR districts reflects the growing demand for homes across the state as well as the growth of the real estate sector and the increasing regulation of the Real Estate Regulatory Authority, UP RERA said.

Moneycontrol News
first published: Oct 13, 2022 09:11 pm