Increase in applications for registration of new projects: UP RERA

In the new projects, Lucknow, Kanpur, Varanasi, Bareilly, Prayagraj, Agra, and Mathura are most favoured destinations for developers in non-NCR districts

LUCKNOW The UP Real Estate Regulatory Authority (UP RERA) has received 125 applications for registration of new projects, from January till June this year. Around 66% of these are from non-NCR districts and 34% from the NCR region, said authorities.

As compared to the corresponding period last year, UP RERA recorded 25% hike in applications for registration of new projects. (Pic for representation)

As compared to the corresponding period last year, UP RERA recorded 25% hike in applications for registration of new projects. Around 75% of the applications are of residential category. The remaining are for commercial and mixed-land used projects, said RERA officials.

In the new projects, Lucknow, Kanpur, Varanasi, Bareilly, Prayagraj, Agra, and Mathura are most favoured destinations for developers in non-NCR districts.

“More project registration in non-NCR districts indicated a growing demand for housing units as well as growth of real estate sector across the state,” said UP RERA authorities.

At present, more than 3,200 real estate projects are registered across the state. According to the regulatory body, applications have been received from Amroha, Shahjahanpur, Gonda, Bahraich, Sultanpur, Firozabad and Lalitpur districts for new projects.

In NCR, Gautam Buddha Nagar, Ghaziabad and Meerut are favoured destinations for developers.

Based on the information provided by promoters, UP RERA reviews the projects and issues necessary guidelines to promoters to ensure time- bound construction in the interest of home buyers. Once the approved information is uploaded on the website, it is not possible to change the original plan without prior approval of the RERA.