In an interview with the news agency IANS, Rajive Kumar said that  so far more than 3,300 real estate projects and over 5,500 real estate agents have been registered under Uttar Pradesh RERA.
Uttar Pradesh RERA has 2,057 ongoing and 1,249 new projects registered under it. Ongoing projects registered means those housing projects registered as on May 1, 2017. Of these, 1,070 projects (52 per cent) are in eight districts of NCR, mainly Noida, Ghaziabad, Meerut and Hapur while 987 housing projects (48.01 per cent) are registered in other 67 districts of the state. Of these 399 projects (19.40 per cent) are in Lucknow district.
New housing projects means those housing projects which are registered after May 1, 2017. Of the 1,247 new projects, 464 projects (37 per cent) are in NCR and 783 projects (63 per cent) are in non-NCR districts. In the last one year, 74 new housing projects in NCR and 139 new housing projects have been registered in non-NCR areas.
Rajive Kumar claimed that the real estate sector is growing at a relatively faster rate in the districts outside the NCR, especially Lucknow, Varanasi and Gorakhpur. In recent months, especially after the Covid-19 pandemic, it is seen that the number of registration of new housing projects in the NCR is more than expected.
Of the total 783 new housing projects registered in the state in non-NCR region, 679 (86 per cent) housing projects are in 11 districts – Lucknow (280), Agra (59), Varanasi (52), Bareilly (52), Prayagraj (50), Kanpur Nagar (47), Jhansi (38), Mathura-Vrindavan (31), Barabanki (29), Gorakhpur (23) and Moradabad (18).
As many as 2,057 ongoing housing projects are registered with the RERA, of which 1,300 (nearly 65 per cent) housing projects have been completed.
The UP RERA Chief also admitted that there are some housing projects which are no longer viable and they can be solved only through the NCLAT.
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(The writer is CEO, Track2Realty)
