UP RERA clears 12 realty projects worth Rs 1,664 crore in six districts

Lucknow, Sep 23 (PTI) The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 12 new real estate projects in six districts, involving an estimated investment of Rs 1,663.85 crore, according to an official statement.

The projects, approved at UP RERA's 214th authority meeting chaired by its chairman Sanjay Bhoosreddy here on Tuesday, will comprise 3,090 residential and commercial units, it said in a statement.

Lucknow accounts for the highest investment and the largest number of units, with four projects, two residential, one commercial and one mixed-use, involving an estimated investment of Rs 609.35 crore and 1,972 units, UP RERA said.

Ghaziabad has three residential projects involving Rs 605.06 crore and 574 residential units, while Hapur has two residential projects with an estimated investment of Rs 123.45 crore and 192 units, it added.

Ayodhya, Prayagraj and Kanpur have one project each. The Ayodhya project involves Rs 72.61 crore and 85 residential units, the Prayagraj project Rs 51.66 crore and 109 units, and the Kanpur project Rs 201.72 crore and 158 units, the authority said.

UP RERA said the projects would boost construction activity and create opportunities in allied sectors such as construction materials, engineering and transport.

The authority said it would focus on ensuring compliance with the RERA Act, timely completion and protection of homebuyers' interests.

Bhoosreddy said transparent and systematic development of the real estate sector, along with timely approval and monitoring of projects, remained a priority for the authority.