125 new project registration applications in UP RERA during the period of Jan-June’22

Lucknow/Gautam Budh Nagar: In the first half of 2022, U.P. RERA has received about 125 applications of new project registration in the housing, commercial and mixed-land use category. About 66 per cent of these applications belong to non-NCR districts and 34 per cent belong to NCR districts. Residential category has the highest share of new project registration applications, about 75 percent and the applications of commercial and mixed-land used projects are in the remaining 25 percent.  

 More project registration in non-NCR districts indicated the growing demand of housing units as well as growth of the real estate sector across the state. In the first half of 2021, about 100 applications of new project registration had been received. With 125 applications, the first half of 2022 has scaled a hike of 25 per cent in new applications in comparison to first half of 2021. Presently, more than 3,200 real estate projects are registered in U.P. RERA.

Lucknow, Kanpur, Varanasi, Bareilly, Prayagraj, Agra, Mathura etc. are top notch districts of non-NCR districts in new project registration. Apart from these popular locations, applications have been received from Amroha, Shahjahanpur, Gonda, Bahraich, Sultanpur, Firozabad, Lalitpur districts that show an upward trend of group housing and rising impact of real estate regulation among promoters of these districts. In NCR, Gautam Budh Nagar, Ghaziabad and Meerut are top in project registration.

U.P RERA has received more than 60 applications of new project registration per quarter in last 6 months.