Infra projects driving UP’s property market: UP-RERA
Uttar Pradesh’s real estate regulatory authority UP-RERA is likely to sanction 400 new projects during 2026, as against 308 in the last calendar year, as the property market is growing across the state, driven by improvement in infrastructure, its Chairman Sanjay R Bhoosreddy said on Thursday.
Addressing a real estate summit organised by industry body Ficci, Bhoosreddy, the Chairman of Real Estate Regulatory Authority, Uttar Pradesh, highlighted that the property market in UP is now just not limited to Lucknow, Noida, Greater Noida, and Ghaziabad.
Real estate activities have picked up in other cities like Kanpur, Gorakhpur, Varanasi, Ayodhya, Jhansi, Hapur, Bareilly, Meerut, Muzaffarnagar, and Gonda, among others, he added.
“UP-RERA sanctioned 197 projects in the 2023 calendar year. This increased to 259 projects in 2024 and jumped to 308 in 2025. So far this year, we have already sanctioned 108 projects,” Bhoosreddy said, adding that more than 400 projects are likely to be sanctioned in the entire 2026.
Under the RERA Act, real estate developers need to take RERA registration number before launching their projects for sale.
He also noted that the RERA law has brought level-playing field between real estate developers and consumers.
Bhoosreddy said the real estate prices in western UP have sharply risen because of infrastructure development, including Jewar airport.
He said the real estate sector is doing well wherever the state Government has developed expressways.
Anand Kumar, Chairman, Real Estate Regulatory Authority (RERA), NCT of Delhi, asked all stakeholders to be honest, to move beyond individual interests, and to make this sector more efficient and transparent.
He stressed on the need for greater awareness of the RERA Act among both buyers and sellers.
Sandip Somany, Past President, Ficci, and CMD of Somany Impresa Group, said, India’s real estate sector is entering a new phase of growth, backed by rising investor confidence and steady demand.
Raj Menda, Chairman, Ficci Committee on Urban Development and Real Estate & Chairman, Supervisory Board, RMZ, said, “India’s real estate sector has earned its place as one of the most consequential growth stories in the world. Sustaining that position now demands digital discipline, embedded not as a front-end tool but across the entire project lifecycle.”
Vipul Roongta, MD and CEO of HDFC Capital Advisors Ltd, said two-thirds of India’s real estate market is residential, and with a young and aspirational population, the demand for residential units will grow.
“If any major economy has to grow, then it can do so on the back of the mortgage industry and residential industry,” said Roongta, who is also Co-Chairman of FICCI Committee on Urban Development and Real Estate.
