UPRERA clears 15 projects worth Rs 3,069 cr across 7 dists
Lucknow, Feb. 14 -- Giving a further boost to the real estate sector, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Friday approved 15 new housing and commercial projects worth over Rs 3,069.10 crore across seven districts in the state.
The approvals were granted at the 195th meeting of UP RERA.
Among the cleared proposals, two residential projects in Lucknow have been approved with an investment of Rs 328.04 crore. These projects will together develop 414 residential units.
Gautam Buddh Nagar received approval for the highest number of projects, four in total including two residential projects comprising 396 units and two commercial projects involving 433 units. The combined estimated cost of these four projects stands at Rs 1,092.19 crore, making the district the highest in terms of investment.
"An investment of Rs 3,069.10 crore will not only strengthen the construction sector but also create new employment opportunities and ensure the availability of quality residential and commercial infrastructure," said Sanjay Bhoosreddy, chairman, UPRERA.
In Agra, one mixed-use project with an investment of Rs 133.17 crore has been approved, comprising 432 units. In Ghaziabad, three residential projects have been sanctioned at a total estimated cost of Rs 1,119.22 crore, under which 1,193 residential units will be developed.
Aligarh has received approval for one residential project with an estimated investment of Rs 243.62 crore, proposing 512 units. In Mathura, one residential and one commercial project have been approved at a combined cost of Rs 40.61 crore, comprising 347 units.
Meanwhile, Moradabad has been sanctioned two residential projects worth Rs 112.25 crore, which will together develop 196 units.
Experts note that the approval of commercial and mixed-use projects in Gautam Buddh Nagar, Agra, and Mathura reflects rising business activity and growing investment potential in the state.
The proposed investment of Rs 3,069.10 crore across these 15 projects is expected to generate large-scale direct and indirect employment....
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