New Delhi: Uttar Pradesh’s real estate sector has witnessed a remarkable surge in investments, growing 53% to ₹69,000 crore in 2025, according to Sanjay R Bhoosreddy, Chairman of the Uttar Pradesh Real Estate Regulatory Authority (UP RERA). Speaking at the ICC Real Estate Summit 2026 in New Delhi on Tuesday, Bhoosreddy highlighted the strong interest of developers from across India, including South India, Maharashtra, and Karnataka, in the state’s property market.
This increase reflects a steady rise over the past three years: investments stood at ₹19,000 crore in 2023, increased to ₹45,000 crore in 2024, and have now reached ₹69,000 crore in 2025, driven largely by promoter-led funding in real estate projects.
RERA Approvals and Housing Units on the Rise
The state is also seeing a surge in RERA registrations and project approvals due to investor-friendly government policies. In 2025, 308 real estate projects were approved, exceeding expectations of 300 and marking a 20% increase from the 259 projects sanctioned in 2024. For perspective, 197 projects were sanctioned in 2023.
The number of housing units under construction has also grown significantly. Around 25,500 units were built in 2023, rising to 65,500–70,000 units in 2024, and reaching 85,000 units in 2025, signaling robust growth across residential segments.
Bhoosreddy noted that the state RERA has streamlined the registration process, providing approvals within 4 days if all documents are complete, with a maximum processing time of 30 days.
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Geographic Expansion Beyond Delhi-NCR
Real estate development is expanding beyond the Delhi-NCR region, with developers now actively investing in cities including Agra, Bareilly, Moradabad, Varanasi, Prayagraj, Ayodhya, Jhansi, Kanpur, Aligarh, Gorakhpur, Azamgarh, Deoria, and Mirzapur. Land prices in key areas are also rising sharply; in Ayodhya, the rate has reached ₹1 lakh per square foot, reflecting increased demand and investor confidence.
Bhoosreddy emphasized the sector’s long-term potential, stating, “The next two decades belong to real estate, especially in accelerating GDP growth at both the national and state levels. Our government aims to take India’s economy to USD 5 trillion, and our Chief Minister is committed to making Uttar Pradesh a ₹1 trillion economy very soon.”
Shift in Market Trends
Echoing these developments, Rajeev Singh, Director General of the Indian Chamber of Commerce (ICC), highlighted a structural shift in housing demand. “Affordable housing is gradually giving way to luxury and premium segments, driven by rising incomes and evolving lifestyles. Tier I cities continue to lead, while Tier II markets are gaining traction. Wellness-focused, amenity-rich residential projects are increasingly shaping buyers’ preferences,” he noted.
With strong policy support, fast approvals, and growing interest from national developers, Uttar Pradesh is poised to emerge as one of India’s most dynamic real estate markets, contributing significantly to regional development and the state’s overall economic growth.
