The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) is anticipated to approve approximately 400 new real estate projects in 2026, a significant increase from the 308 projects sanctioned in the previous year. This projection was shared by UP-RERA Chairman Sanjay R. Bhoosreddy during a recent real estate summit organized by the Federation of Indian Chambers of Commerce & Industry (FICCI). The ongoing property boom in the state, fueled by improvements in infrastructure, has paved the way for this growth. Bhoosreddy noted that the flourishing real estate market in Uttar Pradesh is no longer confined to major urban centers like Lucknow, Noida, Greater Noida, and Ghaziabad, but is expanding to other cities such as Kanpur, Gorakhpur, Varanasi, and Ayodhya, among others.
In his remarks, Bhoosreddy highlighted the upward trend in project approvals over the past few years. UP-RERA sanctioned 197 projects in 2023, a figure that rose to 259 in 2024 and further increased to 308 in 2025. As of now, the authority has already approved 108 projects in the current year. This proactive approach reflects the increasing demand for residential and commercial spaces across various regions in Uttar Pradesh, driven by infrastructure enhancements, including the construction of expressways and the new Jewar airport, which has particularly boosted property prices in western UP.
The RERA Act mandates that real estate developers obtain a registration number from RERA before launching their projects for sale, establishing a regulatory framework that ensures a level playing field between developers and consumers. Bhoosreddy emphasized that the implementation of the RERA law has significantly improved transparency and trust in the sector. However, he also acknowledged the need for greater awareness regarding the RERA Act among both buyers and sellers to foster a more efficient market.
Industry leaders at the summit expressed optimism about the future of India's real estate sector. Anand Kumar, Chairman of the Real Estate Regulatory Authority (RERA) in Delhi, urged stakeholders to prioritize honesty and collaboration to enhance the sector's efficiency. Sandip Somany, Past President of FICCI, remarked that the Indian real estate market is entering a robust growth phase, supported by rising investor confidence and steady demand. Raj Menda, Chairman of the FICCI Committee on Urban Development, highlighted the necessity for digital discipline throughout the project lifecycle to maintain the sector's competitive edge. Meanwhile, Vipul Roongta, MD and CEO of HDFC Capital Advisors, noted that with two-thirds of India's real estate market being residential, the demand for housing will continue to surge, driven by a youthful and aspirational population. Roongta underscored the critical role of the mortgage industry in supporting economic growth, indicating that the future of real estate in India remains bright and promising.