UP’s Real Estate Market Surges on Back of Mega Infra Projects: UP-RERA

UP, May 08 : Uttar Pradesh’s real estate sector is witnessing rapid expansion, driven by large-scale infrastructure development and increasing investor confidence, according to officials speaking at a real estate summit organised by industry body FICCI on Thursday.
Chairman of the Real Estate Regulatory Authority (UP-RERA), Sanjay R Bhoosreddy, said the authority is expected to approve more than 400 new real estate projects during 2026, marking a significant rise compared to previous years. He noted that the state’s property market is no longer concentrated only in major NCR regions but is now spreading steadily across several emerging cities.
Bhoosreddy highlighted that UP-RERA approved 197 projects during 2023, which increased to 259 in 2024 and further climbed to 308 projects in 2025. He added that 108 projects have already received approval in the first few months of 2026, indicating strong momentum in the sector.
According to him, cities such as Kanpur, Gorakhpur, Varanasi, Ayodhya, Jhansi, Hapur, Bareilly, Meerut, Muzaffarnagar and Gonda are witnessing increased real estate activity alongside established markets like Lucknow, Noida, Greater Noida and Ghaziabad.
He credited the surge in property demand to the state government’s aggressive infrastructure push, particularly the development of expressways and major connectivity projects. Bhoosreddy said western Uttar Pradesh has seen a notable rise in property prices due to projects like the upcoming Jewar International Airport, which has boosted investor interest and housing demand across nearby regions.
The UP-RERA chairman also stressed that the implementation of the Real Estate (Regulation and Development) Act has helped create a more transparent and balanced environment for both developers and homebuyers. Under the law, builders are required to obtain RERA registration before launching housing projects for sale.
Anand Kumar, Chairman of Delhi RERA, urged stakeholders in the sector to work with greater honesty and professionalism to strengthen trust in the industry. He emphasised the importance of increasing awareness about RERA regulations among both buyers and developers to ensure smoother transactions and accountability.
Industry leaders attending the summit said India’s property market is entering a strong growth phase supported by stable demand and improving investor sentiment.
Sandip Somany, Past President of FICCI and CMD of Somany Impresa Group, said the sector is benefiting from rising confidence among both domestic and institutional investors.
Raj Menda, Chairman of FICCI Committee on Urban Development and Real Estate and Chairman of the Supervisory Board of RMZ, stated that digital integration across the entire project lifecycle is becoming essential for sustaining long-term growth in the industry.
Meanwhile, Vipul Roongta, Managing Director and CEO of HDFC Capital Advisors Ltd, pointed out that residential housing continues to dominate India’s real estate market, accounting for nearly two-thirds of the sector. He said growing aspirations among India’s young population are expected to sustain strong housing demand in the coming years.
Roongta added that robust growth in the mortgage and residential housing segments plays a crucial role in supporting the expansion of any major economy.