After 2018, 2019, highest number of project registrations in 2022 in U.P. RERA

January 16, 2023: In the second half of the year 2022, about 90 new residential, commercial and mixed land use real estate projects have been registered in Uttar Pradesh RERA. Whereas in the first half,  125  new  residential,  commercial  and  mixed  land  use  real  estate  projects  were registered   under   U.P.   RERA. A release issued by the Authority says,  thus,   in   the   year   2022   about   215   new   projects   were registered and this shows the highest number of projects registration after 258 and 216 in the year 2018 and 2019 respectively which has touched the pre-Covid level.

In the year 2020, due to the Covid-19 epidemic, there was a decrease in the registration of new projects and only 161 projects could be registered, in which there was a huge decline, almost 60 per cent, in new project registration in  the  NCR  region.  In  the  year  2021,  the health  of  the  real  estate  sector  improved  and  almost  174  projects  were  registered.  That year, there was a jump of 64 percent in the registrations of the NCR region, which was like a comeback for the sector. While,  there was  no significant change in  registration  in non- NCR districts.

About  68  per cent  of  the  projects  registered  in  the  year  2022  were  located  in  non-NCR districts and 32 per cent in NCR districts of Uttar Pradesh but in the year 2018, the ratio of projects in non-NCR and NCR districts was 54:46. From the year 2018 to 2022, the figure of ‘registration of new projects’ per year is as follows:

So far, there was strong dominance of the residential category because from 2018 to 2022, about 73 to 75 per cent of the projects belongs to the residential category and the remaining 27 to 25 per cent of the projects belongs to commercial and mixed land use categories. At present, more  than  3345  projects  are  registered  in  U.P.  RERA.