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Non-NCR cities pips Noida, Ghaziabad to attract over 60% new housing projects in last 5 years: UP RERA data

Priya Singh | 2023-11-22

The UP RERA was established in 2017 to regulate the fast-growing real estate sector, bring transparency, protect the interest of homebuyers and ensure speedy resolutions of disputes between consumers and builders.
Non-NCR cities of Uttar Pradesh pipped Noida, Greater Noida, and Ghaziabad to attract over 60 per cent of the new realty projects in the last five years, according to registration data of UP Real Estate Regulatory Authority (RERA)
In 2022 alone, the UP RERA registered around 225 projects of which more than 150 were in non-NCR cities of the state like Lucknow, Varanasi, Gorakhpur, Bareilly, Agra, Mathura and Moradabad, the data showed.
The UP RERA was established in 2017 to regulate the fast-growing real estate sector, bring transparency, protect the interest of homebuyers and ensure speedy resolutions of disputes between consumers and builders.
The DLF, however, said it was yet to receive the communication.
The development comes in the backdrop of a Supreme Court order on May 5 in which it had directed the Noida Authority to ensure payment of compensation for the land to its previous owner Veerana Redyy.
Noida Authority CEO Ritu Maheshwari confirmed to PTI that the notice has been issued.
Another senior official told PTI that the notice was issued to DLF on December 23 and the amount has to be remitted in 15 days.
However, when contacted, a DLF spokesperson said in a statement: "We have not received any notice. Once we get it, we will review it."
The DLF Mall of India is located in Sector 18, Noida's commercial hub.
The land where the mall has been built was acquired by the Noida Authority, which functions under the Uttar Pradesh government's Industrial Development Ministry, in 2005 from Reddy and was later auctioned to DLF.
A major part of the compensation to Reddy remains unpaid and the case reached the Supreme Court, according to an official.