Lucknow, Oct 13 The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Tuesday said it has approved 15 real estate projects across eight districts, involving a proposed investment of Rs 1,226.57 crore and the development of 1,549 residential and commercial units.
Lucknow accounted for the largest share, with seven residential projects approved at a proposed investment of Rs 471.24 crore. These projects will comprise 599 residential units, UP RERA said in a statement.
The approvals were granted at the authority’s 216th meeting, chaired by UP RERA Chairman Sanjay Bhoosreddy at its headquarters, following scrutiny of the project proposals, the statement said.
Varanasi secured approval for two projects, including one residential and one mixed-use development, involving an investment of Rs 166.73 crore and 330 units.
Among the other districts, Mathura received approval for a residential project involving an estimated investment of Rs 252.80 crore and 310 units. Agra’s approved commercial project entails an investment of Rs 135 crore and the construction of 29 commercial units.
Bulandshahr received approval for a mixed-use project involving Rs 119.34 crore and 122 units, while a mixed-use project in Moradabad entails an investment of Rs 42.34 crore and four units, UP RERA said.
In Meerut, UP RERA approved a residential project worth Rs 26.44 crore with 63 units, while Barabanki received approval for a residential project worth Rs 12.68 crore with 92 units, according to the statement.
UP RERA said the proposed investments were expected to accelerate construction activity and generate employment opportunities in the districts concerned. The projects could also benefit allied sectors, including construction materials, transportation, engineering and labour services, it added.
The authority also said it would monitor the progress of the approved projects and focus on compliance with the Real Estate (Regulation and Development) Act, 2016, and applicable rules, including adherence to stipulated timelines.
Bhoosreddy said the authority was working to make the state’s real estate sector more organised, transparent and accountable.
(PTI News)
