Gautam Budh Nagar has more projects—962—registered with the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) than any other district in the state. Lucknow is next with 719 projects registered with the real estate regulator, data provided by the Authority showed.
In all, UPRERA has registered 3,467 projects since its inception in 2017. Of those projects, 1,598 have been registered in the National Capital Region (NCR) areas in the state: Noida, Greater Noida, Ghaziabad, Meerut and Hapur.
Set up in May 2017, UPRERA, as the regulator, is tasked with protecting the interests of homebuyers, bringing in transparency, and ensuring speedy resolution of disputes between homebuyers and developers.
“As the most progressive district in the real estate sector, a total of 962 projects have been registered in Gautam Buddha Nagar, out of which 671 are ongoing and 291 are new projects. It is followed by Lucknow having 719 projects registered with UPRERA, out of which 320 are new projects and 399 are ongoing projects. A total of 428 Ghaziabad based projects are registered with the real estate regulator, out of which 268 are ongoing and 160 are new projects,” the Authority said in a statement on August 22.
Of the 3,467 projects registered in the state, 1,411 are new projects, registered after May 1, 2017. The rest are ongoing projects that began before the RERA Act was passed.
Of the 1,869 registered projects in the non-NCR parts of the state, 882 are new projects and 987 are ongoing. In the NCR, 529 of the 1,598 projects are new and 1,069 are from the ongoing category, the Authority’s data showed.
Sanjay Bhoosreddy, Chairman, UPRERA, said that the balance between a developed real estate sector and secured homebuyers begins with the registration of projects.
Also Read: UPRERA disposes of over 88% consumer complaints, most of them against promoters
“All real estate promoters working across the state must register their projects with RERA and fulfil the responsibility of safeguarding the interests of stakeholders, especially homebuyers, by following the RERA Act. By registering the projects, the promoters not only protect the interests of the homebuyers but also contribute towards building a strong and progressive real estate sector,” Reddy said.
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