New Delhi, Jan 20 (PTI) Investments in Uttar Pradesh’s real estate sector have surged 53 per cent to Rs 69,000 crore in 2025, as developers from all over the country continue to show interest in the state, UP RERA Chairman Sanjay R Bhoosreddy said on Tuesday.
The state is also witnessing a rise in RERA applications for real estate projects, driven by investor-friendly policies of the government, he said at the ICC Real Estate Summit 2026 in the national capital.
“In 2023, it was Rs 29,000 crore of investment in the real estate sector, which is basically by the promoter (of real estate company), which increased in 2024 to Rs 45,000 crore, and this year it has increased to Rs 69,000 crore,” he said while addressing the industry stakeholders.
Against an expectation of 300, RERA approvals were given to 308 real estate projects in the state in 2025, around 20 per cent higher than 259 projects sanctioned by the regulatory body in 2024, he noted.
In calendar year 2023, RERA had sanctioned 197 projects, Bhoosreddy added.
The number of units which have been constructed in 2023 is around 25,500 units. In 2024, it was 65,500 units to 70,000 units, and this year it is 85,000 units, he said.
“…let me tell you now promoters from South India, from Maharashtra, from Karnataka and all the big national companies. You name it, they are now in Uttar Pradesh,” he said, citing reasons for the rise in investments.
Bhoosreddy said the state also has a minimum timeframe of 4 days for providing RERA registration if all details are provided by a developer, while the maximum is 30 days.
The official said that real estate development is happening across the state and not just in areas of Delhi-NCR.
Real estate Developers are showing interest in Agra, Bareilly, Moradabad, Varanasi, Prayagraj, Ayodhya, Jhansi, Kanpur, Aligarh, Gorakhpur, Azamgarh, Devi Patan and Mirzapur, and projects are coming up in huge numbers here.
The most costly rate of land in Ayodhya has reached Rs 1 lakh per square foot, he stated.
“It is our UP RERA’s understanding is that the next two decades are of the real estate sector, especially in accelerating the GDP, whether it is the national GDP or state GDP.
“The government of India has determined to take the economy to USD 5 trillion. And our CM has taken the vow to ensure that UP goes and jumps to a 1 trillion economy very soon. And we are all working for that…,” Bhoosreddy added.
In his address, Rajeev Singh, Director General, Indian Chamber of Commerce (ICC) said, “a structural shift in demand is evident as affordable housing gives way to luxury segments, driven by higher incomes and evolving lifestyles. Tier I cities lead, Tier II markets gain traction, and larger, wellness-focused, amenity-rich homes redefine residential preferences”. PTI ABI MJH ABI BAL BAL
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