Uttar Pradesh RERA Registers Over 250 New Real Estate Projects in 2024
Uttar Pradesh’s housing sector, 259 real estate projects were registered with the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) in 2024. This surge in registrations is expected to provide homes to an estimated 2.7 lakh families, indicating strong growth in the state’s real estate market.
Among the key cities, Lucknow has seen a remarkable uptick, registering 61 projects with UP-RERA, which are set to deliver nearly 54,000 homes. Meanwhile, Gautam Buddh Nagar continues to be a real estate hub, with 51 new projects in the pipeline, contributing over 1.1 lakh new homes to the region. These developments are part of the broader trend of rising demand for housing in both urban and suburban areas of Uttar Pradesh. The newly registered projects represent an estimated investment of Rs 45,000 crore. This reflects the continued investor confidence in Uttar Pradesh’s real estate sector, driven by the state’s progressive policies and rapid infrastructure development. Sanjay Bhoosreddy, Chairman of UP-RERA, attributed this growth to the state’s investor-friendly policies and ongoing improvements in infrastructure. He noted that, in addition to major cities like Noida and Ghaziabad, there has been a notable rise in demand for housing in smaller cities, particularly driven by advancements in education, healthcare, and urban facilities.
Interestingly, Lucknow, which previously accounted for a smaller share of the state’s real estate activity, has now surpassed Gautam Buddh Nagar in the number of new projects registered. In 2024, the city saw 61 projects registered with a total of 53,655 housing units and an investment of Rs 6,150 crore. On the other hand, Gautam Buddh Nagar, which had previously accounted for nearly 50% of the state’s project registrations, saw 51 new projects with an investment of Rs 20,929 crore. Gautam Buddh Nagar and Ghaziabad are also experiencing a rise in the demand for higher-end housing, particularly from investors in Delhi and other NCR areas. This shift reflects the growing appeal of these districts, which are benefitting from better connectivity and enhanced infrastructure.
Before issuing registration certificates, UP-RERA conducted a thorough review of each project to ensure homebuyers’ interests are protected, thereby safeguarding them against fraudulent practices. The stringent checks by the authority have played a key role in ensuring transparency and trust within the sector. In a related development, UP-RERA issued a warning against a company called SIILC, which had been falsely claiming to be an authorised training partner of the authority. SIILC had been charging Rs 5,000 for agent certification, misleading applicants. UP-RERA clarified that SIILC had no affiliation with the authority and vowed to take legal action against the company for misrepresentation. With this continued focus on growth, transparency, and consumer protection, Uttar Pradesh’s real estate sector looks set to thrive in the coming years, contributing significantly to the state’s overall development.
