In Lucknow, 61 projects were launched, while 51 projects were initiated in Gautam Buddha Nagar. However, Gautam Buddha Nagar outpaces the state capital in terms of project scale, with more units, a larger area under development, and higher overall investment.
Uttar Pradesh’s real estate sector experienced significant growth in 2024, with the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) registering 259 new projects across the state. Among the major developments, Lucknow and Gautam Buddha Nagar have emerged as prime destinations for real estate developers, with a combined investment of approximately ₹45,000 crore.
Ghaziabad ranks third after Gautam Buddha Nagar and Lucknow, registering substantial project activity (Sourced)
In Lucknow, 61 projects were launched, while 51 projects were initiated in Gautam Buddha Nagar. However, Gautam Buddha Nagar outpaces the state capital in terms of project scale, with more units, a larger area under development, and higher overall investment. According to UP RERA, the district boasts projects that collectively feature 1,09,075 units and cover 13,55,000 sq metres of land, drawing an investment of ₹20,929 crore.
In contrast, Lucknow’s registered projects comprise 53,655 units and span 9,29,200 sq metres, contributing an investment of ₹6,150 crore.
Sanjay Bhoosreddy, chairman of UP RERA, attributed Gautam Buddha Nagar’s higher numbers to a surge in demand for high-rise buildings and properties among the middle and upper-middle classes. “The larger number of units, expansive areas, and increased investment reflect the growing preference for high-rise developments, particularly in Gautam Buddha Nagar,” Bhoosreddy said.
Ghaziabad ranks third after Gautam Buddha Nagar and Lucknow, registering substantial project activity, with a notable increase in the number of units and development area.
“The UP RERA has issued registration certificates to all these projects,” Bhoosreddy added, further noting that the demand for flats in smaller and mid-range price brackets has risen due to improved facilities, including better education, healthcare, employment opportunities, and infrastructure.
He also mentioned that areas like Gautam Buddha Nagar and Ghaziabad saw a surge in demand for high-end homes, driven by investors from Delhi and NCR.