Registration of new real estate projects picks pace in U.P. RERA
Registration of new real estate projects picks pace in U.P. RERA
: So far 3467 projects have been registered in the U.P. RERA
: Total 1598 projects registered in NCR region
: Total 1869 projects registered in Non NCR area
*So far, a total of 3,467 real estate projects have been registered with the U.P. Real Estate Regulatory Authority. U.P. RERA is constantly striving to strengthen the real estate sector of the state and take it to the forefront of the race for development and regulation. A total of 1598 projects have been registered in the NCR region and 1869 in the non-NCR region.*
*Out of total 3467 projects registered in the state, 1411 projects are considered new projects, registered after 1st May 2017, and 2056 are considered ongoing projects, registered before 1st May 2017.*
Out of total 1869 registered projects in non NCR region, 882 are new projects and 987 are ongoing projects.
Out of total 1598 projects registered in the NCR region, 529 are new projects and 1069 projects belong to the ongoing category.
A total of 962 projects have been registered in Gautam Buddha Nagar, as the most progressive district in the real estate sector, out of which 671 are ongoing and 291 are new projects.
A total of 428 projects have been registered in Ghaziabad, out of which 268 are ongoing and 160 are new projects.
A total of 719 projects have been registered in the state capital Lucknow, out of which 320 are new projects and 399 are ongoing projects.
As per the objective of RERA Act, the registration of new real estate projects is being done continuously by U.P. RERA. The Authority is constantly striving with the aim to nourish the real estate sector in the state and at the same time empower the stakeholders in the direction of regulation.
*U.P. RERA Chairman Mr. Sanjay Bhoosreddy said that Uttar Pradesh is a state with a huge population where a balanced development and regulation in the real estate sector is indeed required. The balancing cycle of a developed real estate sector and secure home buyers begins with the registration of projects. All real estate promoters working across the state must register their projects with RERA and fulfill the responsibility of safeguarding the interests of stakeholders, especially home buyers, by following the RERA Act. By registering the projects, the promoters not only protect the interests of the home buyers but also contribute towards building a strong and progressive real estate sector by keeping the promoters themselves under the ambit of regulation.*
Shri Reddy expressed the hope that in the coming time more projects would be registered in Uttar Pradesh and the real estate sector of the state would become more robust and regular. The successful registration of about three and a half thousand projects is proof that the real estate sector of the state has now moved on the path of progress.
