Uttar Pradesh logs investment worth ₹52,800 crore in realty projects

Reflecting a boom in the urban realty sector, Uttar Pradesh (UP) has logged investments of ₹52,866 crore in the formal housing and commercial sector during the first nine months of the current calendar year.

 

The investments pertain to 249 realty projects, encompassing over 73,400 housing and commercial units in Lucknow, Noida, Ghaziabad, Meerut, Varanasi, Agra, Kanpur and Prayagraj.

 

UP has witnessed a robust uptick in the formal real estate projects in recent years.

 

All these projects are registered with the UP Real Estate Regulatory Authority (RERA).

 

The state clocked capital investments of ₹28,411 crore, ₹44,526 crore, and ₹68,328 crore in the calendar years 2023, 2024 and 2025 respectively.

  

Gautam Buddha Nagar district is among the top recipients of the investment with 38 projects, encompassing over 19,000 housing and commercial units.

 

Lucknow accounted for about 90 projects comprising 29,000 units, with an investment of over ₹17,000 crore across various categories.

 

The collaboration between big developers and financial institutions is driving the formal real estate sector in the state. 

 

Recently, HDFC Capital Advisors Limited, the real estate private equity arm of the HDFC Group, partnered with premium housing major Shalimar Corp Limited for a ₹750 crore platform focused on residential and mixed-use developments across UP. It will comprise multiple projects with a combined development of over 5 million square feet and approximately 3,000 houses, according to Khalid Masood, managing director (MD), Shalimar Corp Limited. 

 

“Emerging urban centres in UP will lead the next phase of housing growth, supported by rising incomes, urbanisation, and infrastructure development”, MD and Chief executive officer (CEO) of HDFC Capital, Vipul Roongta said. 

 

Emaar has also launched premium group housing project ‘Elara’ in Lucknow. It is the company’s second project in the premium high-rise residential category in Lucknow.

 

“As Uttar Pradesh emerges as one of India’s key growth stories, Lucknow is drawing a new generation of professionals. We see Lucknow as a long-term market for Emaar,” Kalyan Chakrabarti, CEO, Emaar India, said.

 

Meanwhile, UP RERA Chairman Sanjay Bhoosreddy said the authority is committed to fostering transparency, accountability, and timely development in the real-estate sector.

 

“The timely approval of projects, and effective monitoring of their development are helping create a congenial environment for both homebuyers and promoters,” he added.