NEW DELHI: The real estate sector in Uttar Pradesh has experienced a remarkable 53% increase in investments, soaring to ₹69,000 crore in 2025, as reported by UP RERA Chairman Sanjay R Bhoosreddy on Tuesday.
Bhoosreddy attributed this growth to the state’s investor-friendly policies, which also led to a noticeable uptick in RERA applications for new projects during the ICC Real Estate Summit 2026 in the national capital.
“Investment in the real estate sector was ₹29,000 crore in 2023, driven primarily by real estate promoters. This figure rose to ₹45,000 crore in 2024 and has further increased to ₹69,000 crore this year,” he stated to industry stakeholders.
He noted that RERA approved 308 real estate projects in 2025, surpassing the anticipated 300, which was a 20% increase from the 259 projects sanctioned in 2024.
In 2023, RERA authorized 197 projects, Bhoosreddy added.
The number of constructed units reached approximately 25,500 in 2023, grew to between 65,500 and 70,000 units in 2024, and is projected to be around 85,000 units this year, he reported.
“Developers from South India, Maharashtra, Karnataka, and major national companies are now investing in Uttar Pradesh,” he emphasized, explaining the surge in investments.
Bhoosreddy also mentioned that RERA has set a minimum processing time of 4 days for approvals, given all necessary details are provided, with a maximum timeframe of 30 days.
The official stressed that real estate development is flourishing across the entire state, not just in Delhi-NCR.
Developers are now increasingly interested in Agra, Bareilly, Moradabad, Varanasi, Prayagraj, Ayodhya, Jhansi, Kanpur, Aligarh, Gorakhpur, Azamgarh, Devi Patan, and Mirzapur, with a significant number of projects emerging in these regions.
The land prices in Ayodhya have skyrocketed to ₹1 lakh per square foot, he noted.
“UP RERA believes that the next two decades are crucial for the real estate sector, particularly in driving GDP growth, both nationally and at the state level. The Government of India aims to grow the economy to $5 trillion, and our Chief Minister has committed to elevating UP to a $1 trillion economy soon, and we’re all working towards that,” Bhoosreddy remarked.
Rajeev Singh, Director General of the Indian Chamber of Commerce (ICC), also highlighted the shifting demand towards luxury housing, as affordable housing gives way to premium segments driven by higher incomes and evolving lifestyles. Tier I cities are leading this trend while Tier II markets are also gaining momentum, characterizing new residential preferences with larger, wellness-oriented, and amenity-rich homes.
